quibids.com reviews - Penny auctions are slowly becoming a fad these days when it comes to the world of online auctions. Now, every online user has this unique chance and equal opportunity to purchase a mobile phone, notebook, gift cards, home appliances, games consoles and other useful stuff at unbelievably low prices. According to the recent statistics, the process of trading on online penny auctions can save consumers up to 70 to 90% of the total value of these goods. It is a simple reality but it could also be a hoax or perhaps a scam. For you to avoid being a victim of several fraudulent activities, make sure you sign up for a legitimate penny auction site.
Penny auction is also considered as the ‘lowest unique bid’ auction. Penny auction uses the principles of competitive shopping. Penny auction is essentially an online auction where trades happen online, goods are displayed for sale at very minimal costs and bets are usually made with fixed steps. The emerging winner is someone who placed the final bet. With every bid, the duration of the online auction actually increases. The bigger the lot’s value, the less time is added upon the auction (usually from 30 down to 5 seconds).
The principle behind penny auctions is based on interests and time. A member of penny auction sites may place their bets in a number of ways:
· SMS system. You can send messages to a certain short number that requires lots
· Manual mode. Members may also place their bets using the manual mode by directly going to the auction site and manually clicking the appropriate buttons for them to place their lots.
· Automatic mode. Any bidder can adjust the auto feeds of his bet on certain lots and they don’t need to personally monitor the bidding process for a certain lot, saving them valuable time and cash as well.
quibids - Penny auctions have been popular in Europe and are now a growing consumer purchasing trend in the United States. In this online auction, you can avail of high quality goods such as mobile phones, designer handbags, laptops, plasma TVs, consumer electronics and so much more. All these items are on sale at very affordable prices compared to their price tags in ordinary retail stores. For consumers to participate in penny auctions they need to register and sign up but there are a few sites who won’t require this process anymore. As a general rule, an individual who is interested in these online auctions can participate together with other online consumers, fight and bid for their favored auction lots, and shop the night away. If you are a consistently prudent and successful bidder, you get the better chances of winning a laptop or a brand new iPhone at an incredibly low bid price.
beezid reviews - In the end, it turns out that an auction is profitable for both the winner of auction lots and as well as the owners of these websites. As for bidders who weren’t that successful, many of them may not have placed much interest on their bids or didn’t invest a good amount of bids. The smartest and strongest participants are always lucky, and participating in many auction sites plainly assumes intellect and luck.