The nature of penny auctions means that the ease of winning and the cost of items depends on how many people are on line at a given point of time and how many auctions are simultaneously going on. Using the right strategy, you can win some items for really less.
Generally, penny auction sites try to make the bidding process uniform throughout the day. This means that bidding at a certain time of the day should not give you any advantage over bidding at another time of the day.
However, this rarely works and the whole bidding experience is not as even as they’d like it to be.
You have a better chance of winning an auction at certain times of the day and at a lower price . You must identity such times and bid accordingly to win and get great prices. Most penny auction sites do not publish the kind of data that you need to identify the best times for bidding. So you’ll have to do some more research with such websites.
Here is a list of times that you should bid and the times that you should avoid bidding for most penny auction sites. But take time to compare this with any given site and adapt accordingly.
The best times
Days: The best days to bid are Tuesday, Wednesday and Thursday, with Wednesday being the best day. There could be many reasons for this. People are generally occupied with more important things during the weekdays.
Times: The best time to bid is around 2pm-5pm, EST. If you live in different time zones, convert it accordingly. At this time there are few people bidding and lots of auctions to bid on.
The worst times
It is important to avoid these times as there are just too many people who are bidding on any given auction.
Days: Weekends are the worst. Try to avoid them. There are just too many people who are free on the weekends and have nothing better to do than sit in front of their computers. You can see this yourself. Sunday evenings are perhaps the worst time for auctions from the user’s perspective.
Times: The worst time to bid is somewhere around the night. In EST, this comes to about 10pm – 2am. This time has too few auctions and too many users. Try to avoid these times.
So the competition on a Saturday night is huge. And remember that behind the final price there are many people that lost hundreds of dollars trying to win that item.