If you frequent the QuiBids Facebook page, then you’ve probably seen this word being thrown around a bit. According to PennyBurners.com, a Power Bidders is described as:
“A bidder who has made his/her reputation by over-spending on auctions, often to prove a point, and in the hopes to win auctions at cheaper prices in the future. For example, a Power Bidder may spend $500 on a $100 item in one auction; if other bidders see that that Power Bidder is willing to over-spend and go all the way, that bidder may win a future $500 auction for less than $50.”
Now on QuiBids, this definition doesn’t quite match up as nicely because a customer that places $100 worth of bids towards a $100 item would get that item through our Buy Now feature without having to bid or pay anymore. In fact, we have found the concept of Power Bidding to be even more complex, but PennyBurners was definitely right about Power Bidders working to earn a reputation.
Power Bidding is a strategy used by some on our site to get more auction wins. Early on in our site’s almost four-year life, we realized that this bidding style could create a one-sided playing field for bidders. This is why we started implementing auction limits – to give everyone the best opportunities possible to win great deals on the items they want. This prevents the same users from winning every auction. Here is a description of the current auction limits on QuiBids taken from the Help Section of our site:
QuiBids allows 12 wins in a 28-day period and 12 wins per 24-hour time period. In addition, you may only be winning 5 normal auctions and 1 beginner auction at a time.
Additional auction limits include:
- You can only win one of the exact same item greater than $285 in value during a 28 day period.
- You can only win one of any item equal to or greater than $1,000 in a 28 day period.
- Voucher Bids only apply toward a user’s daily 12 win limit. Voucher Bids do not apply to a user’s 28-day win limit.
Although these limits were a step in the right direction, we understand we have a lot of opportunity for improvement in this area to continue to provide customers with the most entertaining way to shop online. According to feedback from our customers, the playing field isn’t as level as it could be, even with the current limits in place. We take comments like these very seriously, and determining appropriate limits to give more people even better opportunities to win can become quite a complicated issue to address.
We wanted your feedback to solidify exactly what a Power Bidder is and what factor(s) make someone go from “normal bidder” to “power bidder?” Since employees cannot bid on QuiBids, we took to Facebook to get insight from those with the most experience bidding in auctions: our customers.
What are characteristics of a Power Bidder?
1. Their bidding strategy includes stocking up on Voucher Bids.
One of the more common themes of the responses to our post was that Power Bidders typically have a stockpile of bids. They can acquire bids through various ways, but the most common way is by bidding exclusively on large voucher auctions. Once they acquire a bunch of bids, then they’ll go all in on a higher end item.
2. They create a reputation of winning.
We’ve seen this a bunch too. Another common bidding strategy for Power Bidders involves creating a reputation of winning and by intimidating users with their reputation. Some bidders are notorious among the QuiBids regulars simply because they win a lot. QuiBidders will begin to recognize these types of bidders and quickly learn to avoid auctions they’re participating in which in turn exacerbates the one-sidedness of the auctions. Another more common method of intimidation involves creating a username that is meant to scare away other users. For example, you might see a name like IWillWinThisAuctionRightNowNotYou, or YouAlreadyLostBecauseImHere, or anything similar. If you see these names, don’t freak out. They are probably just trying to intimidate other bidders. However, it’s always best to observe a bidder’s bidding behavior to get a better understanding of their tendencies before entering into an auction with anyone. Read QuiBids 101 and our Strategy blog posts for more tips and tricks.
3. They have tons of money.
Money is an important part of anyone’s strategy, because money translates into bids, and bids are how you win. In QuiBids 101, we recommend setting limits for yourself so you never go over your budget. When you have more money, it just makes sense that you’re able to bid more and win more. This is a big reason we have our limits in place – to give more people more opportunities to win. If you have any suggestions about our limits, be sure you’ve left your feedback in our Limit Busters — Your Thoughts blog post.
4. They have lots of time.
Another characteristic of Power Bidders that was mentioned on our Facebook page this week involves the amount of time they have to bid. The more time that a person spends bidding and strategizing, the more they are going to win.
One last note…
One other thing we noticed in the comments were about Power Bidders being allowed to circumvent our site rules by winning the same high-end items. Our site rules state that a bidder can only win 1 of the same product with a value price over $285.00 in a 28 day period. So when you see a user winning the exact same item within a 28 day period, this is more an issue with how our site displays the information – which our developers are working to fix as we speak. More specifically with our new auction format, a user may have one item selected while bidding, but select another item after he or she wins. If this is the case, then our site will still show the original product that was visible when the auction was won, regardless of what product was chosen afterwards. So essentially someone could bid on the same $285+ item that they’ve won previously. If they end up winning one of these auctions, then when a bidder gets ready to complete the purchase, he/she would be required to select a different option before finalizing. If you’d like this explained in further detail, contact our support at support@QuiBids.com and we’ll be happy to talk more about it.
Thank you to everyone for sharing your thoughts with us on Facebook this week. Let us know your thoughts on how we can improve our limits in the comments below.