subject: How Do You Bid on a Penny Auction? [print this page] How Do You Bid on a Penny Auction? How Do You Bid on a Penny Auction?
What really goes on at penny auctions? People know quite quite a lot about widespread online auctions or yard sales websites like eBay but also the new kid around the block is the penny auction, where buyers get top items for dirt-cheap prices. You'll hear stories of pricey pieces of jewellery being sold for a mere 5% of its valued price! Could those stories be true? Penny auctions have a specific procedure to follow so you obtain what you want. The name comes from the starting bid - a penny, or in the most, a dime. You have to plan the timing of the bids to win your item. The last bidder to add his bid when the timer hits zero would be the single one which may get the item.
Every time someone bids on an item, the purchase price goes up by either $0.01 or $0.10. When time will be added on the clock, either ten seconds or thirty, that means another person has just bid . You do have to pay for this privilege to bid. If you're really set on an item, you will need to buy a bid package and have it an appreciable one. Can you actually get what you want? It would really be dependent on you. Some websites have many competition since they accept bids from all over the world. You'll also find websites that only allow American and Canadian residents to take part, which means less people after the item you like.
As always, the penny auction sites vary so make sure you pick ones that have good reviews on service and delivery before you even begin to bid. You'll at the very least be sure which you'll be getting the best with sites like these. If you still have qualms, choose a site that uses a trusted payment system so if you want to return your item, you've got that "stop payment" option. That's an extra security for you! You'll be more sure of getting the winning bid with this technique. Just start bidding when the timer goes below sixty seconds. At this time, the sole people left in this game are the ones which are serious about the item. When the others surrender, you'll buy it, for sure.
