How to win on Quibids - easy two step method


Uploaded by pennyauctionstrategy on 28.05.2012

Transcript:
In this video I'll show you how to win on Quibids auctions.
There are two things to check before you bid on an item.
The first one is,
is this item
to the players advantage or not.
And then once you've chosen the item you want to bid on,
a second thing you want to check is:
are the players bidding on this particular auction
aggressive or not? Now before we go on, I just want to make something clear.
Most of the stuff you see on the internet
I'm sorry to say but it's terrible.
People have won a few times with a strategy or they just read something else
from another blog and they are repeating it.
What we're gonna show you here is based on actual data that is fed into the
engine in real time, and has millions and millions of records that are used to
compute the information you see here. So this is not
seat of the pants or "I'm lucky and I've won three times with my strategy so I'm
gonna write it on my blog". It's terrible the stuff you see on the net about penny
auctions: it's full of disinformation. Nothing like that here, just facts, okay?
So let's move on,
let me give you an example. Suppose I've
chosen to bid on this nice cordless phone.
So I just
type in here
and I look at that. If I go down just a little bit
I see this one is at a large disadvantage to bidders.
So this auction is a very risky one.
Perhaps,
I might want to try something else.
Now, I'm also interested in this item which is
a two hundred dollars "you choose it" card.
Now this is much better,
but it's still at a small disadvantage to bidders, so
I decide to go on because, perhaps, I'm a newbie player,
and I don't want to take that kind of risk.
Perhaps
you're a more experienced player
and you're comfortable with that.
Each one has to tailor
his own
experience and strategy
with what,
you know, he's
comfortable.
Now,
I really need that kind of stuff here.
This
fabric steamer, so I look it up.
Now, this is at a medium advantage to bidders so this is starting to be interesting.
It should be
a much easier auction to win.
Of course if you go down,
you see much more information on the previous auctions you've had on this item.
But you know what? I'm really green so I'll show you
the kind of auction
you're really really looking at.
The kind of auction you really want to find.
Now if I look at this...
This is at a large advantage to bidders,
and that means it is very, very, easy to win and I... actually you can see here on this
graphic that
twenty of these auctions closed between one and two cents. That means
people placed two bids to actually win it.
And here,
four auctions closed between two and three cents
and so on; and the highest prized auctions
on this item at the time I am running this video was
fifteen cents so,
people are winning really fast. On average
they're winning after one point two bids
and, I can see here that,
everybody's won with one bid except
this person here with four bids, an a few other guy or girls with
just two bids.
So that's the kind of item
that's real easy to win and that you want to look after if you're a rookie
or beginner.
Now, you've chosen an auction
and now people are bidding. You want to check out a player.
So this guy has started bidding.
Should I bid against him?
No! This guy is super aggressive,
he is on the top
eleven percent most aggressive
bidders
that are out there on Quibids.
So, this guy
rarely, rarely quits so
by all means,
stay clear of
this guy.
Now if I were to play against
this player,
I can see here that
it's much better.
He's around the average
and that means the most he's put on an auction is 52 bids and
on average he puts 7.6 bids on an auction.
But the median is one. That means that
the average is pulled up because, on one case, he placed between fifty one
and fifty five bids and
as you can see,
on twelve auctions, he put between one and five bids so that's why the average
is pulled up, because of this here.
The median gives you a better representation
of exactly
what to expect from this bidder.
Now, go ahead, in a few seconds I'll be giving more details on every item you
see here on screen, but, by all means if you want to start researching
penny auctions, go to
pennyAuctionIntelligence.com and you can start doing
your own searches.
Now I'd like to explain a few more of the numbers here,
but i'll go back to
this guy because he has
more data and it's more interesting to look at.
This part here is the histogram,
and it shows you
much more information than just the average or the median bids.
The average is often cited but it's a very, very dangerous number in penny
auctions because
all data on penny auctions is heavily skewed,
and, the few times that a bidder uh... like this guy you see, a
few times he's put
between 166 and 170 bids on an auction
and one time he's put between 131 and 135,
and another time between 90 and 95; so that pulls the average up
a lot even though
these things
have not happened very often.
It's happened here on four auctions that he's bid a lot on,
but as you can see here, most of the time,
on thirteen auctions, he's placed between 1 and 5 bids so that's why
the median is more interesting to look at then the average. But I still give it
out because most people are interested in that.
Now this blue curve here,
is a cumulative percentage frequency.
This dotted line is seventy five percent. So where those two lines meet,
it tells you that seventy five percent of the time
this guy is bidding
twenty-five bids
or less
and this is the ninety percent line.
So ninety percent of the time this guy is putting seventy-five
bids
or less on an auction so that also gives you a better sense
than just an average or a median
has to how this person
is bidding
most of the time.
This part here is designed to show you the pattern. This bidder
bids heavily at the beginning of the auctions and
in a few cases, well this one case here, he tried his luck
at the very end
you know, a long way into the auction
and this is for
all the auctions that he's played on. So look here, he's placed
105 bids between
bids 1 and 100 on any particular item,
whereas
he's placed only 53 bids
in any auctions between bid number 601 and 700.
You'll see some players have a tendency to,
for example,
bid a little bit at the start
and then
bid more when the're way more in the auction and that's also a good example,
a good way to see,
the player bidding patterns.
If you go way down here you see
everything he's bid on
and the number of bids he's placed on every one of those actions. And here,
highlighted,
is every time he's won.
Let's go to an auction
uh... and see
the data. Here is a very nice histogram because it has so much data.
You see the typical blue curve.
Now here as I said, seventy five percent of the time
this auction goes
between
uh... 1 bid and
uh...
1,686 bids which is sixteen dollars and eighty
six cents.
90 percent of the time
it goes out
between twenty six dollars eleven cents and twenty six dollars
ninety five cents.
Here again
you see the median price it goes out at; the average price it goes out at;
and the average winner uh..
the average number of bids the winner has placed on this, and the median
number of bids the winner's placed on this as well as the average
savings in dollars and in
percentage.
And here you see the history of that item,
with the winners, which you can click on to go and check them out.
And you see here
the number of bids
this
uh...
these players have placed to win.
So there it is, with all this information on PennyAuctionIntelligence.com
you'll be able to build
a great strategy
and greatly increase
your chances of winning
and since it's just
real data for you,
you don't go into generalisations like
"oh you should bid between this and that time" and so on.
You can really check out,
you know,
the items you're really interested in and we currently
support
quite a few
penny auctions sites, certainly we support all the big ones
so once again I invite you to go to pennyAuctionIntelligence.com.
Thank you for listening, and if you enjoyed this, please
share it with your friends and click the like button
below the video. Thanks!