Many people hate the jumper. What is the jumper? In penny auction terminology, it is somebody who “jumps” in on the auction after all or many of the other contestants have already exhausted their bids, their BIN limits, or their personal limits for that auction. Or they could end up making someone who just won’t give up pay much more than they wanted to, and in many cases, more than retail. Like it or not, jumping is a common penny auction strategy on many websites, and this article will take a closer look at this controversial subject.
Are you a jumper?
You know that you are a penny auction jumper if you wait till there seems like only 1 or 2 persons left in the auction before you jump in. This can be done with or without an auto bidder. Some people are jumpers and don’t even know it. One thing to keep in mind is that some people do indeed seek revenge in the form of jumping you back, sometimes repeatedly until you want to quit the site. Lots of people have found that one out the hard way.
When is jumping advantageous?
So when is it a good idea then? Some sites are way better than others when it comes to helping people who bid early actually win. Other sites are more geared towards people who jump in late. To be honest, there are some situations where doing it would be a very bad idea, such as on auctions with high end items. If somebody has already put in hundreds or more bids, they are not going to be scared off by a jumper. That is, unless you are loading up with hundreds and hundreds of bids as the jumper. Those are called powerbid jumpers, and they are extremely dangerous in penny auctions. As a general rule of thumb though, the smaller the reputation of the people bidding, and the lower the price of the auction, the more effective this strategy will be.
They do, and some of them even encourage it in their strategy section, telling you to bid late and be tricky to win big, etc.
Keep an eye out for more strategy articles, and check below for some of the past ones:
Quibids Strategy: Getting to know your way around the world’s largest penny auctions site.
Beezid Strategy: This site, with no buy it now option, has it’s own unique strategy.