Power-bidders are the select few people who are there in the bidding arena just to make your life a little harder. They’re there in an attempt to frustrate you, drive up the price, and ultimately kick you out of the room.
What is penny auction power bidding?
Power-bidding refers to a bidder who aggressively bids against another. It may come in the form of a higher bid immediately after someone puts theirs in, or it could be an on-going bid for multiple hours against one another. Both situations result in loads of used up bids for both parties.
Why do bidders use this tactic?
Power-bidders take this tactic as a form of intimidation. Over time other bidders will recognize the power bidders name, and will often choose not to bid against them to avoid spending money on used bids. This makes future penny auctions easier for the power bidder.
How to Compete with Power Bidders
Unfortunately there’s not a lot you can do to compete against penny auction power bidders. Your best option is to wait it out or leave the room for a while. Hopefully once you come back the intimidator will be burnt out and give in. Beginners should definitely stay clear of power bidders, but if you’re more experienced you can try to wait it out.