Savvy shoppers opt for online penny auction sites

Savvy shoppers opt for online penny auction sites

As more and more people start to shop online in the hope of making savings compared to shopping on the high street, penny auction sites are full of users making huge savings. Penny auction sites offer shoppers the chance to save fortunes on great products.

You can find all types of products including electrical items, furniture, kitchenware, vouchers, holidays, cars and much more.

How do they work?

Well each site tends to have a few differences however the majority of legitimate sites work like this;

All auctions will start at 0.00, when a user puts a bid on an auction the price will increase by 0.01, the timer will then start counting down, these timers tend to range from 2 minutes to 30 seconds if it is a good site. If another user places a bid the timer will reset to its original time and start counting down again. If no-one else places a bid in that time the auction will close and the last bidder is the winner.

Top 3 Tips

Make sure the site is legit

For every great penny auction site there are plenty of fakes. It is important to do your homework before you bid or even register.

1) Look for logo's such as Visa Verified, PayPal & McAffee These show that the site is secure.

2) Google the site's name and have a look at what comes up, look particularly for Wikipedia, Forums and reviews. If a site has a lot of results then this is a good sign.

3) Check if the site has a closed auctions area and make sure there are plenty of closed auctions in there with various different winners.

Stick to your limits

Penny auctions are a great way to make savings, however you must remember that they are pay-to-bid auction sites and will cost you money. Set a limit and stick to it, sites that make you purchase bids in advance to put in your account are great because like a pre-pay mobile you can only use what you have.

Think Smart

Penny auction sites are all about strategy. To win regularly you have to play smart, make sure you;

Watch any How it works' videos or read any relevant guides

Watch auctions to get an idea how they work

Use sites that offer a couple of free bids as you can try before you buy

See if there are any YouTube videos for the site so you can see what goes on

Visit forums and see what others advise and see who are the big bidders

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