Penny Auctions Sites - An Official Review Of Penny Auctions

Penny Auctions Sites - An Official Review Of Penny Auctions

With Christmas right around the corner a lot of people are turning to penny auctions to help them buy gifts for their loved ones at low prices. After all, who wants to go shopping in an overcrowded mall and pay expensive prices when you can sit at home and purchase all the products you want from the comfort of your computer. But the real question is, do penny auction sites really get you cheap prices, or are they just a big scam designed to take your money? I wanted to find the truth...

I did a lot of research online and I found out that you have to be careful when choosing which penny auction sites to use. Most sites are legitimate, but you still have to watch out for the scams. I used the guide and reviews at Penny Auctions Review before I signed up with a penny auction site they rate as number one.

After signing up with a penny auction site, and buying a large bid package, I then started to look around for new electronics. I found an auction for a new HTC Touch smart phone, and I decided to get in on the action. Basically, to win a penny auction you have to use your bids on products you want. Each time anyone places a bid on a product, the countdown timer goes up by 10 seconds and the price of the product goes up by a penny. You want to be the last one bidding when the timer gets down to zero.

Anyway, I made a rookie mistake in the auction and I started bidding early on. I should have waited until the timer was below one or two minutes, but instead I started bidding against someone when there was still 4 minutes left. That mistake cost me a lot of bids (around 25).

I wasn't about to give up though. The people who were bidding against me started to slow down when there was 15 seconds left. The timer hit 5 seconds left and no one was competing with my final bid. And then, the timer finally hit zero, and I couldn't believe I'd won my first penny auction, and it meant that I got a brand new HTC Touch for less than $60 including all the bids I'd used up! Plus they sent my new phone to me in less than 6 days.

Since then, I've lost a couple of auctions and I've won others. There's no guarantee that you'll win an auction, but I've definitely saved a lot of money since signing up for penny auctions. For anyone thinking about signing up for one of these sites, I strongly urge you to read this guide before starting. It'll help you pick the right sites so that you don't get scammed.

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