ADVICE TO BIDDERS
Kyrano.com is a unique shopping experience. Although bidding in our auctions can be enjoyable, Kyrano is a serious shopping site for people who have already decided to acquire a high-value item and use our auction to buy the item at a bargain price. Kyrano.com is not a merchant. We are an auctioneer. We provide the discount for your purchase from any merchant of your choice.
Kyrano members understand that every product or service has a price that must be covered if the seller is to remain in business. Therefore, to provide a real bargain to the auction winner, all participating members understand that they contribute toward the discount made available to the auction winner. You understand that participating in a Kyrano auction involves a degree of risk, in exchange for which you may gain a high reward. In view of that, we offer the following advice.
1. Enroll in an auction for a product only if you plan to buy the product, whether or not you win the auction. If you don't need the product, you are better off not bidding on it.
2. Enroll early while the auction is tentative to earn double points. Points can be exchanged for bidding tokens.
3. Decide ahead of time how much you are willing to spend. A good goal is to spend no more than 5 to 20 percent of the cost of the items on which you bid.
4. Estimate how many bids you can make. Divide the amount you are willing to spend by twice the initial cost of bidding. For example, you decide to spend $18 bidding and the initial bid is eight tokens, or 80 cents. Divide $18 by $1.60 and you see that you can bid about 11 times.
5. Make sure you have enough bidding tokens so that you don't run out in the middle of an auction. Gold tokens are refundable so having an extra supply in your account is a good idea.
6. Bid early but not too often. Free bids are available in the early bidding and you may win a free bid. After two or three early bids (which cost less) bide your time and let other bidders build up the discount.
7. Don't wait until the last two or three seconds on the timer to bid. If your bid is late because of a slow connection or other delay, it may not register before the timer runs to zero.
8. Decide ahead of time how much of the normal discount you are willing to give up to be an Instant Winner. The initial penalty for selecting the Instant Winner option is about 30 percent of the normal discount. This eventually reduces to 5 percent of the normal discount.
9. Observe the bidding to see who bids often and who bids rarely, to get an idea of your competition.