Benefits To Penny Auctions
As a bidder, you often wonder if real people actually win the auctions
, or if the website just makes you keep bidding, but in the end the company wins and no actual products are won by real people. This type of scam is not unheard of, but with so many penny auction sites being so successful, real people must have actually won a few auctions.
To start out with the basic rules of penny auctions, beginners should know how they differ from regular auction sites like Ebay. Sites, like Ebay, allow you to bid for free, and you only pay the dollar amount that is won with the auction. So if a T.V. auction on Ebay stops at the highest bid being $45, then that bidder pays $45 for the T.V.
Penny auction sites, on the other hand, require users to buy a package of bids which they use to make offers on the item up for sale. This means you pay for each time you make an offer on a product.
Users can purchase a package of anywhere from 20 to 1,000 bids, but if you don't use a bid that you purchased, you cannot return it. So be careful with the amount of bids you buy, buying too many can leave you with extra bids that mean wasted money.
After you purchase the amount of bids you think you will need, they are put into a "bid bank" and you use those during the auction. Once you enter an auction, you can bid on the item you want, and each time you press the "Bid" button, you use up one of the bids in your "bid bank."
This is where you have to be careful; you should only bid after you see a lot of other people bid first, this will make sure you don't use a bid unnecessarily and waste them. If you run out of bids, you have to purchase more, and this will take you away from the auction you are watching, and could cause you to lose the item you want.
But there is also the benefit that, unlike other auction site, if someone makes an offer at the last second; you don't lose out on the item because you aren't quick enough. In penny auctions more time is added to the timer when more bids come in, giving you ample opportunities to make an offer.
Now that the basic guidelines have been laid out, we can go over the benefits of using penny auctions. They allow you to get things for very, very cheap.
Everyone wants to save money and get things at a bargain price, its human nature; and on top of that most people are scraping up every last cent they have to make ends meet. These sites allow users to purchase things at a fraction of their retail cost.
These one cent sites also offer a wide array of product to choose from. You can purchase televisions, computers, iPods, cameras, cars, jewelry, clothing, gift cards, vacations, etc., etc. There is definitely something for you to find in their large catalog of items.
A lot of the items offered are typically very expensive, like iPads, boats, vehicles, cameras and other electronic things. One cent auction sites show users getting them for a mere few dollars. It is incredible how cheap they can be purchased for.
If you can find a credible site that is not trying to take your money without offering anything in return, try to win an auction and buy normally expensive products for only a few dollars. This can save you hundreds, if not thousands, of dollars on electronics and other items that you don't want to spend a small fortune on to purchase.
by: Ronald Pedactor
The Decrease In Penny Auction Success Due To Over-competition Penny Auctions What is meant by liquidation and who are liquidators Los Angeles? What Is Reverse Auctions And Why It Is Effective Selling On Ebay: Why You Need A Good Small Package Shipping Company Ebay Lisitings Dunhill Links Auction Is Hotting Up How To Make The Big Money Selling On Ebay Successfully Building An Ebay Auction Purchasing Land At A Property Auction The Pros And Cons Of Selling Your Personalized Plate At Auction Tn Gov Auctions Making Big Money With I Sold It On Ebay