HarkeyDuarte334
Aus Salespoint
Pros and Cons of worldwide Penny Auctions
As global penny auctions grow in popularity, one cannot but stop and think - is it great for me, like a bidder? Sure, it appears it is a good idea for the site because it are now able to get in touch with bidders around the globe with out a critical mass of bidders in each country. But what about bidders? How good could it be?
Here, by global penny auctions, I am talking about web sites where people from all around the globe compete on a single auctions. This means if there is a gift card that I am bidding on, odds are, the other bidder I'm competing against is from a different country and time zone as me.
Pros The biggest benefit of global penny auctions is it helps you with number of products. This is accomplished in two distinct ways. One, there are certain items that are popular in the US and not the UK or Australia and vice versa. Which means you reach pick and invest in auctions that you may not see in your country. This sure is exciting.
Secondly, bidders see more auctions during the day because now people from different time-zones are competing. This is really a good deal for many bidders that do not get to bid during the peak product times, like afternoon (since you are working) and instead want to bid during the night when there aren't enough products. Yes, it is a fact, just about all penny auctions have fewer auctions throughout the night.
Cons Obviously it's not all a bed of roses. There are times when you won't want to be bidding globally. One immediate problem is to do with competition. Will the penny auction scale in the number of auctions compared towards the quantity of bidders who've now increased? The solution obviously depends on the site but the usual response is no. This means more competition due to increased bidders on same number of slightly increased quantity of auctions.
Global bidding may also render some bidding strategies obsolete. This would mean bidders need to reevaluate everything, especially strategies according to best bidding times.
It's really exciting to be bidding against people from all over the world, but simultaneously you should never forget your reason for on the website - to win! Some penny auctions can pull it off well and others cannot. BidRivals, the most popular site at one point of your time throughout Europe is struggling today with significantly fewer auctions and bidders than at its peak.
