Online Auction Sites Allow Penny Bids To Determine The Cost Of Merchandise

Bids posted in online auctions have become a huge draw for people that are shopping for a bargain

. Through online auction sites anyone can sign up to be included in the fast paced and fun game of bidding for popular electronic items and tickets to events at a discounted price. Knowing what to bid and when to bid is a matter of analyzing the competition and making a move before the clock runs out on the item that is being auctioned. For many people that participate in the online auctions the right time to make a move is moments before the end of the auction. Waiting until the last minute and then placing the penny bids that raise the total in favor of the bidder allows a person to hold onto their credits for as long as possible.

On average the auctions typically last about 8 days and after receiving an opening bid most products will sit untouched for several days before a frenzy of bids are added to the total in the final seconds of the auction. The thrill of winning a prize is almost as much fun as placing a bid. For some people the excitement of the chase is more rewarding than actually being named the winner of a particular auction. However the opportunity to buy merchandise for pennies on the dollar is drawing a lot of attention from the millions of people that do their shopping online.

Rather than paying retail for a product that has caught the eye of an individual a person can go to one of the online auction sites and buy a series of tokens or credits that can be used to bid on the same item at a reduced rate. As credits do not expire they can be used at anytime. However unlike live auctions that only collect from the winning bidder the online bidder may have to wager their credits in order to be taken seriously. Knowing that what they are spending is still far less than any retailer that is making their merchandise available on the Internet, the individuals that participate in an auction are able to spend much less than they would if they were to buy the same item outright.

With a number of people placing their penny bids online during the final moments of an auction the action heats up and things become intense and exciting as the clock is counting down and the last few bids are accepted by the website. The winner is then announced and for a small price people that are fortunate enough to have maximized their bid are able to make a purchase that adds up to a very small amount of what they could have paid for the product if they were willing to offer the asking price from an online retailer.

by: Art Gib

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