When in Doubt… Do Your Homework!

Confidence is something that comes and goes with varied consistency in just about every one of us. There are days when we can’t even merge on the freeway without causing those around us to wonder why the “Student Driver” sign was not on our car! Speed-up, no brake, no speed-up, no brake… ughhh!

Making decisions can be like that at times, especially financial decisions. What do you do when you are in doubt about a financial decision? I want to narrow down this discussion to making financial decisions regarding buying bids on penny auction sites. Should I or shouldn’t I? Experienced players wrestle with these decisions. Imagine those who have never bid on a pennyauction site? Well, here’s some help from a very real (it happened today) decision.

One of my favorite places on the internet is Pennyauctioncoupon.com. This is a site that offers special deals for bids on pennyauction websites almost daily. You can click on the name above and the link will take you there for today’s special… but before you do, let me share with you the decision making process I went through. I am confident it will help you too.

The first thing I did, when I saw the special offer, was to login to the site. Now, I have already registered there, so if you haven’t you will need to… and by the way, type in amcoffee when you come to the “fill in the box” that asks who referred you! Anyway, back to the process, because I had my doubts today.

I logged into my account and began to look around. First, let me see what kind of items do they offer? I like gift cards and they have gift cards! That’s a match. Next, off to the win history…

In the last 70 auctions that closed, over half of them were won by the same 5 names (and I recognize these names – I don’t see them lose too often… if at all!). That tells me that 5 power-bidders are hauling in over 50% of the available auctions! Taking my research a step further, I saw that over the last 100 auctions while there were 21 different winners, again the same 5 names still won about half of the auctions. So, do I really want to buy bids for a site where these 5 people are winning the majority of the auctions? I need more information. I need to do more homework. Do they have any win limits? Yes… 2 wins per day. Ok, that helps me allot. Oh, and one more thing… these 5 names virtually always mark their auctions. I seldom, if ever, see them join an auction they did not first mark. So, I can bid on auctions they do not mark with a relative certainty that they will not come after me. That’s good news too.

Next, does the site ship their winnings? Off to a couple penny auction review sites (you will see one linked to the right side of this page). I check out their reviews and everything looks good. Finally, do I have any money???!!! The special deal is 25 bids for $5. I have an $8 balance in my account at Penny Auction Coupon! It’s a go!

Now, you can do the same thing, or you can take my word for it. I’m in at Bidbreezy for a great deal. But at first I wasn’t sure. What caused this confusion? I had trouble getting on the freeway this morning!



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Filed under Penny Auctions with Personal Experience

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