Hints and how Winnit works
As opposed to traditional auctions where the highest bid wins, at Winnit.com members bid SMALL to win BIG!
Winnit members bid against each other by placing their guess for the lowest, unique amount on any given product, which results in a winning price that equates to a small fraction of retail cost. The goal is to be the first (and only!) member to bid a price as close to zero as possible without guessing a price that someone else has already bid.
Once members have placed a bid, Winnit will inform them whether their bid is (1) unique and/or (2) the lowest. Based on this, Winnit will provide hints for the next bid in order to help users guess the lowest, unmatched amount on the same product. Each auction has a set fee-per-bid ranging from $1 to $4 depending on the product. Members may bid multiple times in any auction, but please note that the bid fee applies to each individual bid.
If a single Lowest Unique Bid has not been received by the close of an auction then the winner is determined by the lowest bid amount that has been placed by exactly two members. The member that placed this bid amount first will be deemed the winner. If an auction does not have a bid amount that exactly two members have placed then Winnit will find the bid amount that three users have bid and apply the same rules.
Winnit winners are notified of their prize within 12 hours of an auction’s close in order to account for the reconciliation of bids and the auditing of results when necessary.
Winnit is truly a game of skill and to help our members understand how to WIN BIG, we wanted to pass along some hints that will help you get started and discover your own effective strategy. Be sure to follow us on Twitter and check out our Facebook page to read more!
Hints
- First and foremost, constantly monitoring placed bids will help you to understand how others are bidding and allow you to see if your lowest, unique bid has been eliminated. Especially in the last minutes of an auction, keeping an eye on your bids and acting accordingly will improve your chances of winning.
- Serial bidding allows Winnit members to place multiple bids between two set prices at one time, which effectively covers every amount between them. When used strategically, serial bidding can be incredibly helpful in auctions. (Please note that when using a serial bid, you will be charged a fee-per-bid for each amount within your selected range.)
- As you would imagine, your chances of winning increase as you bid more, but bidding more doesn’t always ensure a win. We’ve seen members secure an auction with a single bid!
How to get started:
- Create a user account
- Select an auction to bid on
- Place your bid (bid fees are listed by product)
- Winnit will immediately inform you of the status of your bid and let you know whether or not you have guessed the lowest, unique amount. Remember to press the refresh button
to update the status on your bids - You will be updated on the status of your bids by e-mail and may also view auction status on your "My Account" page
- At the close of an auction, if your bid remains tagged as the Lowest Unique Bid, you will be notified of your win by email with instructions on how to proceed!
BEST OF LUCK FROM THE WINNIT TEAM!!
