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It’s tempting to think that you’ve been outbid by a bot or an employee of the penny auction site you’re using when you end up losing. This justifies being able to ask for a refund for the bids you used up, but just because someone is over bidding on a product does not make them a bot or an employee. There are actually several reasons why someone is actually using up more money in bids than the product is worth.
However, the old saying “just because I’m paranoid, doesn’t mean they aren’t out to get me” applies to this situation. If you have a suspicion that a bot or employee is bidding against you, try to do some research and follow them around on the site. Or better yet, stop bidding and move on to a reputable penny auction site instead.
Nevertheless, here are the reasons someone might be legitimately going crazy with their bids…
Obviously one of the main reasons people will go crazy bidding on an item is sheer stupidity (sorry it had to be said). There are those people you see that NEED to win, so much so that it’s not even about whether or not they end up profitable or actually getting a discount. For some people penny auctions have become a form of gambling – but that doesn’t mean penny auctions are gambling. As with anything, addiction to anything is possible, even food.
Another reason you might see people over bidding in penny auctions is because they look at their previous bids as something that was completely wasted unless they win the item in question. That pretty much is the WRONG way of looking at things. Just because you’ve put in 500 bids into trying to win a product does not mean that you should continue at all costs to get the product. That’s like putting your money in a stock and then when it keeps dropping you keep putting more and more in until it goes bust.
A final reason someone might be going crazy with their bids is because they’re mad or on tilt. They want to get back at someone and want to drive up the other person’s costs for the product. These people will bid against you like crazy, but you’ll probably figure out who they are.
By the way, there are those people that bid like crazy because they’re using it as a strategy. They want to develop their reputation of being a power bidder, so they’ll overpay now in the hopes that they’ll be under paying for stuff down the road.
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