The Steam sales create a huge amount of hype and the standard advice people give at these times are wait until the game you want to buy is on a flash or daily sale as these have the biggest discounts.
But Steam may be getting rid of both the flash and daily sale as soon as this Autumn (late November). Posting in a Steamworks developer group, Valve said that “this year, to optimize the sale for customers and to allow us to feature and recommend your products in more ways to more customers, we’re asking for just one discount, to run the length of the sale.”
The best sellers during the sale period will get highlighted at the top of the page as Valve has confirmed “We’ll still be highlighting top games on the front page for 24-48 hour spans, but those products will stay at their most competitive discount, before and after being featured.”
This could be to stop people abusing the refund system Valve have recently implemented. Another thing you’re missing out on is AAA games being put on a high discount for a limited time, now the prices probably won’t reach these high discount prices since the discount will last much longer.
What’s for sure though is that the upcoming Autumn and Winter Steam sales might just be a tad less interesting if Steam does decide to stick with this approach. On the upside, you can grab your favourite game the moment it goes on sale instead of waiting around hoping for a better deal.