As the penny auctions craze sweeps the nation (and the world) it becomes more important to educate yourself so you can join the best penny auctions site for you.
Penny auctions are the hottest way nowadays to do your shopping for deep, deep discounts on top brand name merchandise — all while enjoying the thrill of the live auction environment.
The way it works it this; top, name brand merchandise still in the box and still under manufacturer’s warranty, is put up for bid. Take a look around and pick the product you’ve been searching for and were going to go out and buy anyway.
Once you select the right site (we’ll go into more about that below), buy your bid pack. Penny auctions are different than other kinds of online auctions in that you buy your bids first to be able to play. Then go to your item and you’ll see there’s a timer and current bid price shown. Begin placing your bids. You’ll notice that each time you bid the timer gets set back by a few seconds and at the same time the price of the item goes up by one penny. This is why it’s called a penny auctions site!
The point of the penny auctions and the way to win your item is to be the final bidder placing your bid as the timer reaches ‘0’.
There are strategies you’ll learn to increase your chances of winning — such as buying the biggest bid pack available so that you won’t be caught short at the final moments when just one more bid could make the difference between winning your prize or losing it to one of the ‘pro’s’ who bid high, fast and furious! You need to be able to beat them at their own game.
If you’re the final bidder when the clock hits zero then the item is yours! All you have to do then is proceed to checkout and pay the final sale price (usually 60-98% off regular retail prices) plus any shipping or handling charges (these will usually be listed for you to review before beginning the auction, so there should be no surprises there.)
Not all penny auction sites are created equal though. To pick a great one look for things like;
- Wide product selection of in demand brand new merchandise or hot gift cards.
- Penny auction bid packs starting with low prices and discounts for quantity purchases.
- Buy Now penny auction feature which allows you to redeem the cost of any spent bids should you not win the auction for any reason. This way you will have had the fun of competing while still being able to purchase your desired product at the regular price and putting the value of your bids towards that final price. This way no one has to walk away without winning!
- Fair play penny auction guarantee, meaning employees or robots are not allowed to place bids, and top winners are restricted to the number of auctions they can win in a given time frame (that way everyone gets a fair chance to win!)
- Great customer service and support for any penny auction questions you might have getting started and/or making sure the items you win get to you fast and in great shape.
- A good selection of beginner’s auctions to help newcomers learn how the auctions work, and get a chance to win an item in a less competitive, smaller format to build confidence before taking on the ‘giants’.
There are lots of other details that could impact your final decision but those are the main ones I would bear in mind when starting your search, especially if you’re brand new to the penny auction world.
To make your search and decision making process easier you’re invited to check out my top penny auctions site recommendation by clicking the link.
As you can see there are a lot of benefits to being part of the exciting penny auctions phenomenon which is sweeping the world right now. In fact it could change the way people shop forever. So go ahead and take a look around, be sure to check out my personal favorite top penny auctions site and – Happy Bidding!