How to Win on QuiBids Using Historical Data
I recently received a question from one of our members asking for How to Win on QuiBids Guide and how to use the historical QuiBids Report data to win on QuiBids. Our user said he felt overwhelmed with all the statistics that QuiBids Report provides and wanted to know where he should start with all the data. These are good questions and I thought I would share with everyone my recommended QuiBids tips on how to win on QuiBids using the statistics found here at QuiBids Report.
How to Win on QuiBids Tip 1: The Day and Time You Bid Matters
First rule is bid only on the days and hours the QuiBids product sells for the least amount. On days where the average price of the product are the lowest indicates those are the days with the least competition. You can find out which days are best to bid for each QuiBids product on QuiBids Report. You are dead set on winning a particular item then be patient and wait until the day/time of the week in which that product sells at a below average price. The days and hours with lower average price means less competition and you will have a better chance at snagging a deal. This is the single most important way to save bids and how to win on QuiBids. To access this data simply create an account with QuiBids Report, look the product up in our database, and then click on it. The next window that opens there are the “Top 10 Best Times to Bid”, or “Average Selling Price by Day of the Week”, or the “Average Selling Price by Hour of the Day”. Tip: Click on the Top 10 Best Times to Bid link to display a full list of best times to bid, then in the search bar type in a day of the week (Mon, Tue, Wed, Thu, Fri, Sat, Sun) to display the average price for each hour of the day. From here you may want to bid differently based on the retail value of the product. See below..
How to Win on QuiBids Tip 2: Small Value Products and the Bully Strategy
If you are bidding on a small value item then many times you can win using the bully strategy in the 1st and 2nd Quartile ranges to win the auction. The Quartiles are listed on the same page as the Best Times to Bid. Most people do not know, but a large proportion of products on QuiBids sell early rather than later in the auction. Many power bidders use this strategy to save bids and how to win on QuiBids.You can tell by looking at the Quartiles and Frequency Charts to see this reflected in the data. To bully other bidders you want to be in the auction from the first time it counts down to zero. Bid early then as soon as someone outbids you, BID AGAIN. Keep you mouse over the bid button and click it as soon as a meek bidder bids. Many times you can win a $10 Gift Card for under 20¢ however this method is employed a lot and there is a good chance that you will run into other bidders trying the same thing. It’s important you can spot a bidding war early. Typically if another bidder counters your bid more than 4-5 times on a $10 gift card then this is a sign that you have another bully in the mix! At this point back off and take a last second bidding strategy for a few bids. Let the other bully exhaust his bids on other bidders giving you a numerical advantage. Keep in mind that the bully/aggressive bidding method works on the premise that by being aggressive early on in the auction most other bidders move on to the next auction, however if they bid then they become vested in the auction. Once someone places a bid in the auction they have now invested in it and will typically continue bidding in the hopes to recover their investment! The more bidders vested in the auction the less chance you have to successfully pull off a bully strategy. So bid early and bid each time you are outbid to scare off the other bidders. Pulling this off is a great way to show dominance and how to win on QuiBids if done correctly.
How to Win on QuiBids Tip 3: High Value Products and the Long Haul Strategy
If you are going for a high value QuiBids auction then the bully strategy usually will not work because there will be just too many bidders to take on. What you want to do here is look for confusion points or points where basically everyone thought someone else was going to bid. There is a lot of discussion out there on confusion points and they are hard to spot, but again the Quartiles and Frequency Charts on QuiBids Report clearly show that more QuiBids products close on the left-side of the average price than on the right-side. In other words, the majority of the products sell before the average price then after the average price. This means that you should place most of your bids for high-value products before the average price or in the 1st or 2nd Quartiles than after the average price in increase your chances of winning. I would suggest being more conservative and not try to bid each time you are outbid. It would make more sense to bid randomly as well as count the bids of your opponents. Lookout for fully committed bidders in these price ranges. A fully committed bidder is typically a bidder who has bid roughly 50% of the retail value of the auction in terms of value of the bids placed (60¢/bid). For example if the QuiBids Product has a retail value of $200 then its bid value is 333 bids (333 x 60¢ = $200) and 50% of that would be 166 bids. Tip: Use bid counting software to track the number of bids placed by other players. Remember, high value items need a bigger bank-roll to have a real shot at winning so be ready for the long haul. Your goal is to place most of your bids in the quartile ranges where the gap between prices are small thereby increasing your odds, but if you find yourself late in the auction then bid last second or even try to employ the straddle method.Pulling this strategy off successfully and consistently means you certainly know how to win on QuiBids.
How to Win on QuiBids Tip 4: High Value Products and Bid Late Strategies
There are other strategies you can employ on the high-value products on QuiBids as long as you are okay with paying more for the product you are going after. There are two methods for the bid late strategies. The first is the QuiBids Straddle Method which you can read about on our other blog posting. The other is bidding at the last second at or around the Hot Price or Very Hot Price of the auction. What is the Hot and Very Hot Price of a QuiBids auction? These are statistical calculations based on previous auctions which are reported on QuiBids Report. These are price points that indicate the auction has reached a point that has not happened many times in the past. Likely there will not be many new bidders at this point and all that are left are vested bidders. Again it is good to be counting the bids of others which will give you an indication as to when the other bidders will give up. Remember the 50% and 120% rule above. Your goal here is to bid at the very last second effectively starching your bids. Remember, bidders at this point in the auction are on the polar opposite of the bidders at the beginning of the auction: stubborn and in it for the long haul.Tip: Spotting auctions at or around the Hot, Very Hot, or Straddle prices is hard to do on QuiBids because they are hidden from the front end of the site at these prices. You will need to open and monitor live auctions in separate windows/tabs to see the auction go into these price ranges before you can use this QuiBids strategy.
QuiBids Tips to Live By
- Bid more frequently and aggressively in the first and sometimes the second Quartiles (Q1 and Q2).
- Stay out of bidding wars in late quartiles (usually Q3 and 4).
- Low-Value Auctions try to use the bully strategy but beware of other bullies.
- If possible use software like BidPanther to count the bids placed in the auction by other players.
- If you see someone bid 50%+ the value of the item in bids then he is likely going to be committed to spending full retail value or more in bids on the item. Many bidders will bid roughly 120% the retail value in bids (this takes into account free bids the player may have stockpiled).
- Remember if you don’t bid then you can’t win. Not bidding can save bids, but it you run the risk that others won’t bid as well. Keep an eye on other committed bidders.
- Finally, I would suggest you look at the auctions and compare them to the data on the site. After some time this will give you a feel for when products will close and when to bid.
- Most importantly BID AT YOUR OWN RISK! The methods above do not guarantee winning. They are merely a view of how to win and will not work in every case.
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