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When it comes to penny auction sites, there are strategies that can help in securing the best outcomes. Finding the best time to bid is most critical. These were based on BidCactus.com savings.
The best savings were typically found between the hours of 11 pm and 2 am and 1 pm to 3 pm, all Eastern Time. The most auctions were held between 2 pm and 5 pm. The least number of auctions were held between 3 am and 8 am.
Auctions that ended between 10 pm and Midnight tended to be the most difficult to win. The easiest hour to win was between 6 am and 7 am, presumably when most people were off to work.
Penny auction sites are widely regarded as gambling. Payment processors sometimes code transactions as such.
- Aaron Goldstein, Gambling911.com
