Penny Auctions are all the craze on the internet today and there is a niche group of people who get incredible discounts in these deals. So how does it work?
Penny auctions, like the name suggests, allows you to get products like iPads and Macbooks for pennies. Penny auctions are quite different from traditional auctions. So how do they work? Simple - bidding is not free. This is the main difference. When you bid on a penny auction, you need to pay a certain amount of money, anywhere from $0.50 to $1.00 on each bid. A small amount of time is added to the clock each time someone bids. In the end, the person who makes the last bid when the timer runs out is the winner. Here is the interesting part: Every bid raises the price by only 1 cent, and the price starts at a base of 0! This means if there is only one bid, you get the product at an incredible 1 cent.
These are no scams. The thing to remember is that there will be a unique winner and he will get the deal of a lifetime. You should try to be this person. It is not hard if you know well about the process of getting these deals.
The first and most important thing is to choose a site. There are literally tons of them, the most popular being Quibids and Swoopoo. However, I would not recommend them. Why? Because they are both very popular and therefore extremely competitive. In penny auctions, as with other auctions, the less the number of bidders, the higher your chances of winning. Therefore, you should look at sites that are relatively new but that are 100% legitimate.
I use the website called BidRivals to shop for the most common products. This includes anything from games for children to Amazon gift cards. Of course you get some great products like iPads and iPhones for about a hundred dollars so it sure is a great deal. The best thing about BidRivals is that it is an international penny auction and people from all over the world bid on it. It is great fun and you can plan your wins well. It is especially good for winning smaller items like gift cards but you can get great deals on bigger items as well.
Another great penny auction to try out is ScoreLuxe. This is a highly exclusive penny auction with the best designer goods selling for a couple of goods! They also have some great electronics like iPads. This site probably gives the best returns as it is very less crowded and you can get the best products at never before heard prices.
To win on these penny auctions, you should first read about the penny auction model and familiarize yourself with it, if you are not already. Then, I suggest starting small - try the $10 gift card at BidRivals or the smaller gift cards at ScoreLuxe. This will greatly help you in the future if you want to bid on high-end items like Macbooks and iPads.
Penny auctions, like the name suggests, allows you to get products like iPads and Macbooks for pennies. Penny auctions are quite different from traditional auctions. So how do they work? Simple - bidding is not free. This is the main difference. When you bid on a penny auction, you need to pay a certain amount of money, anywhere from $0.50 to $1.00 on each bid. A small amount of time is added to the clock each time someone bids. In the end, the person who makes the last bid when the timer runs out is the winner. Here is the interesting part: Every bid raises the price by only 1 cent, and the price starts at a base of 0! This means if there is only one bid, you get the product at an incredible 1 cent.
These are no scams. The thing to remember is that there will be a unique winner and he will get the deal of a lifetime. You should try to be this person. It is not hard if you know well about the process of getting these deals.
The first and most important thing is to choose a site. There are literally tons of them, the most popular being Quibids and Swoopoo. However, I would not recommend them. Why? Because they are both very popular and therefore extremely competitive. In penny auctions, as with other auctions, the less the number of bidders, the higher your chances of winning. Therefore, you should look at sites that are relatively new but that are 100% legitimate.
I use the website called BidRivals to shop for the most common products. This includes anything from games for children to Amazon gift cards. Of course you get some great products like iPads and iPhones for about a hundred dollars so it sure is a great deal. The best thing about BidRivals is that it is an international penny auction and people from all over the world bid on it. It is great fun and you can plan your wins well. It is especially good for winning smaller items like gift cards but you can get great deals on bigger items as well.
Another great penny auction to try out is ScoreLuxe. This is a highly exclusive penny auction with the best designer goods selling for a couple of goods! They also have some great electronics like iPads. This site probably gives the best returns as it is very less crowded and you can get the best products at never before heard prices.
To win on these penny auctions, you should first read about the penny auction model and familiarize yourself with it, if you are not already. Then, I suggest starting small - try the $10 gift card at BidRivals or the smaller gift cards at ScoreLuxe. This will greatly help you in the future if you want to bid on high-end items like Macbooks and iPads.
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