Great question! Glad you asked.
The key to predicting the final price in "Predict the Price" really comes down to the following variables:
§ Day of week
§ Time of day
§ Type of product
§ Type of auction
§ Number of similiar auctions around the same time
When you go to pick the price you will want to click the price history link. This is where you will spend your time looking at the auctions that ended and tabulating the data into a spreadsheet using the above variables.
I.E.
Say for auction of 300 Tcredits. Your data tabulation may be like this:
Price | Day Sold | Time Sold | Auction Type | Other Similar Auctions
------------------------------------------------------------------------------------------------------
$1.75 Mon 7am Double MRP Yes, see next line
$10.50 Mon 6:50am WBF Yes, see line above
$35.00 Sat 7pm BIG DOG No
As you can see, by building tables of data like above, you will start to see trends.
Then you can further analyze those trends to see like variables. Such as auctions that sold
for under $5 were more common on Monday - Friday mornings before start of business on the East
Coast of the US.
Once you group trends, you can then do price averaging of those auctions to come up with an average
predictable selling price based on law of averages and past events. This is of course is never absolute
usually with a high variance of plus or minus 10% or lower but if you can get this average price and tack the
§ Day of week
§ Time of day
§ Type of product
§ Type of auction
§ Number of similar auctions around the same time
around it, one can easily apply this to future auctions. If you know that a Sunday afternoon auction for IPAD no auto bidder usually averages $40 then you would just enter your price into any auction matching these details. Likewise, a silver coin auction coming up at 12 noon on a Tuesday in the US normally averages less than $3 then you would enter that into any auction matching these details.
All one can do is research and use statistical processes to average out the probability of what a future auction might end at price wise. Your won’t likely get 100% or even 60% or 40% right but if you can guess even one in 10 you are doing well and ahead of the pack.
I hope i was able to provide some insight into how to better your chances of winning Pick The Price.
Good Luck
less
Great question! Glad you asked.
The key to predicting the final price in "Predict the Price" really comes down to the following variables:
§ Day of week
§ Time of day
§ Type of product
§ Type of auction
§ Number of similiar auctions around the same time
When you go to pick the price you will want to click the price history link. This is where you will spend your time looking at the auctions that ended and tabulating
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