The 411

Keep up to date on what your competition is doing. Create a strategy. Increase your odds of winning.
Showing posts with label math lesson. Show all posts
Showing posts with label math lesson. Show all posts

Wednesday, July 6, 2011

DealDash 411 - Math Lesson for Newbies

Newbies - I'm going to start with the simplest math you need to know before going nutso on DealDash! This one is as basic as it gets.

let me set the scene:
         You've just discovered DealDash and realize that the world has plotted to keep you away from this amazing site. So you are anxious to get going and win cool stuff like toaster ovens and cameras for pennies. You buy the intro package - $60 for 200 bids. You are thinking this is too good to be true right? You are either at home with your spouse/friend/kid, or at work with co-workers crowding around you going, "It must be a scam! There is no way this is real! They probably never ship the items. You are a moron!" But you still believe. You watch the auctions and you see a $10 gift card come up for auction. You think this is a perfect item to possibly bid on. You watch the clock count down to zero and auction ends without ANYONE bidding. You can't believe it! Then another $10 gift card comes up to auction so you throw down a penny bid. And you actually win! While you hug your spouse, kid, pet, or co-workers jumping up and down in a locked embrace screaming and crying with joy that you have finally found a way to REALLY get stuff for pennies, you lock your eyes on the ipad auction coming up...You need the ipad! What better way to boost your ego and feel like you outsmarted the rest of the world by getting an Ipad for $1.00.
           The room goes quiet as everyone else sees what you have locked your eyes on. And then you all see the Wii package, and the ridiculously cool Nikon camera and a LAPTOP...Oh my gosh they have great stuff on DealDash...But those auctions are being won at higher prices than a $1. Then your brilliant idea comes to you: If you just win a bunch of those 40, 80, 150 bid auctions, you can build up enough bids to go for the big items.
Then you proceed to  spend 50 bids trying to win a 40 bid auction.

Math Lesson #1:  If you go for a bid auction, you take a higher risk because there is no Buy It Now. So realize once you have bid 40 times, you are now not "winning" anything. I've seen Newbies bid more bids than the # of bids they can win. Yes, I counted. I know who you are.  I am just hoping you were trying to win to minimize the damage. Or you were so excited that you didn't realize what you were really doing. But if you really didn't think about how many bids you used, then you need to take a step back from DealDash. And tell your co-worker, the one who is egging you on and saying "don't let that player keep trying to outbid you, you're weak if you let him win" to keep quiet. You know he is the one with the big voice but he's too scared to go on DealDash himself.

I know - long story for the most obvious lesson ever. But you know someone out there just read this and went "ohhhhhhhh. oops" even if it wasn't you.

Keep count of your bids, especially on auctions with bid packages. Or don't. We're ok with it if you burn yourself out too.

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