When bidding on these auctions I HIGHLY suggest finding a lesser known site with less users
. Why? Well less users means less competition. And less competition means using less bids and saving more money. For example, try a brand new penny auction site such as IShop4Cheap. The prices as well as the bid numbers here are significantly lower than the likes of a Beezid or Snaglo. Also, try to use patience and not bid too early. Once the product gets up to it's average sales price it is time to start a bidding marathon. If you place 200 bids on the auction at 60 cents each, then you spend $120 on bids for a product that cost $400. Not bad at all. In fact, some people make a living at home by purchasing items low, then selling at retail price on Ebay. I recommend giving penny auctions a shot. Remember to keep the techniques above in mind when bidding and you will be well on your way to turning large profits.