Much has been made in recent months about the advent of penny auctions websites, what they stand for, how they work, and whether or not they are scams like they have sometimes been labeled. Although I will not be able to answer every question that you may have I would like to think that reading this article, as well as the other articles located on this website will help you to figure out whether or not these penny auction sites are for you, what the best penny auction websites are, and how you can make money by using the penny auction sites
themselves. Though assuming you have done research elsewhere you will find that the majority of people are having success with these types of websites, and with the low cost of entry you can really have a lot of fun as well as learn alot just by signing up. And when you're ready to do so we have a variety of websites that we have partnered with to bring you the very best that the online auction business has to offer. In any event lets get to the business shall we.
So for starters lets look at what exactly these penny auctions
are, why they exist, why you should use them, and how they work. For starters these websites are developed by reputable companies from all over the world with hopes of both making money for themselves, and getting consumers products cheaper than you could ever hope to pay at a retail store. While they offer an interesting product it is a safe product, and one that can bring you a lot of joy and top of the line products as well. How Normal Bidding Sites Work
On a traditional bidding website the item for sale is put there by an actual person (not the auction company) and you bid against other people. If the auction starts at $1, and you bid $2 thats where the bid stands, if someone bids $3 it goes to $3 and so on and so forth. With this model the person with the deepest pockets is going to win the auction outright nearly every time simply because their is no strategy involved. The cost of the product in turn is not all that much cheaper than if you had bought it in a store, and in most cases you are better off purchasing it within a store to ensure that you are getting something that definitely works, can be returned, and is not broken. You get none of these three things when you purchase from a traditional online bidding company. Lastly their is a fair about of auction sniping going on within these types of auctions. The reality is that most folks will put in a bid at the one second mark, so while you're sitting there thinking you're about to win, you get crushed at the last second. How Penny Auctions Work
Penny Auction websites are entirely different than traditional auction websites for a variety of reasons. For starters when the item goes on sale its being sold from the auction company and not a detached third party. The product itself is sold as brand new, which means you know that your buying a legitimate product which is not always the case from random online sellers. The auction begins with a set time period and a bid
of $0.01. Users of the site purchase "bid packs" which allow you the opportunity to bid on whatever item it is that you want to purchase. Every time you use a bid the price of the item increases by a penny, and the time remaining increases by twenty seconds. When the smoke clears the person who has placed the highest bid when the timer hits zero is the winner of the auction. The advertisements and other literature are not lying, people are winning iPads, cards, gift cards, and other high end electronics for pennies on the dollar!
I am sure you can see just how lucrative this can all be, just imagine the possibilities. Most people shop for themselves but their is a huge market for those looking to resell the products they win on the penny auction sites. You don't need to be a math or business expert to understand that buying an iPad for $19 and selling it for several hundred is a good and very profitable move. Some people are extreme couponers and thats how they make a few extra bucks, now this can be your avenue. This is such a young and fertile business landscape that their is a variety of money to be made in a variety of ways. Do not let yourself miss the boat on this opportunity.
While their is a bit of risk involved when entering one of these contests the reality is that nothing good in life comes without some kind of a risk. If you are willing to risk $20 to possibly win a camaro for $5.28 like this man
did then you might just walk away a very happy person. And I don't know about you but I have risked a lot more for a lot less of a return in the past so that seems like a pretty irrelevant sum to be risking for a pretty awesome looking return. Whats the learning curve here?
At the end of the day most people can get easily discouraged if they are not able to jump into the den and become a winner. Thats where most of those penny auction scam posts get their story from, but the reality is that these websites are not scams, they are a form of entertainment that may involve a bit of risk. You will not win every auction you bid on, you may not win your first one, and you may not win something everyday. You must stick with the program however and the reality is that if you do then someday you will be able to make a name for yourself inside of this new up and coming arena. And with that being said, the final part of our speech....
Are Penny Auctions for You?
If you enjoy a bit of competition
then you should definitely start playing on penny auction websites. Surely, at the beginning not everyone is going to be a winner but that goes without saying in most everything that we do in life. Rather if you follow a penny auction strategy and do not let yourself become discouraged you will find yourself purchasing great products, at low prices and having a lot of fun in the process. I would say that these types of websites are for anyone that is interested in having the opportunity to purchase amazing products at rock bottom prices. Its never a guarantee but its always possible which is what makes them so much fun to play on, and speaking of fun to play on.... Sites to Play On
If you do a bit of research you will find a variety of penny auction websites that you can play on. Unfortunately some of these websites do not offer the best experience for users and that is why we have hand picked the top two websites out there to make sure you avoid the bad apples. The websites that we are affiliated with and recommend that you play on are Bigger Bidder
and Cost Dropper
. If you're wondering whether or not you should play on all two of the sites, we say YES and explain why in our strategy posts that are scattered throughout this website. But the main purpose here is so that you get the best of every world. At the end of the day contest competition is in direct correlation with how many people are bidding on the items. So to be a top dog in the penny auction world you are going to have to ensure that you are on every website all the time. This is going to enable you to seek out the best auctions with the best deals each and every time.
Now that you have all the details in regards to how the sites work, and how you can get started what are you waiting for? Click on one of the banners above to sign up and begin placing bids and winning items today! This site will eventually have a photo gallery of all the people that send us pictures of themselves with the products that they have won, so be sure to submit them as soon as possible! Simply use the contact us page above and we will let you know where exactly you need to send your pictures.