Penny Auctions And Money Saving Bargains

June 17, 2017 Facebook Twitter LinkedIn Google+ Online Auction

Ever heard of online penny auctions? I hadn’t before a like minded money saving friend introduced me to them. If you love online shopping for the best bargains or then you will probably like penny auctions.

The principle of a penny auction is simple. Unlike eBay, where bidders place minimum or maximum offers, with penny auctions you simply have to click to indicate that you want the item, similar to raising a hand in a conventional auction. The last person standing gets the item, for however much it is worth.

There are just loads of luxury goods, from cars to mobile phones, for 98 per cent less than their recommended retail price. You can get a multitude of shiny, high-end goods such as Apple MacBook Pros, 50in plasma-screen TVs, even gold bars or wads of cash, which are directly delivered to auction winners from the sites warehouses.

The catch?

Well the only thing is that you have to pay for each bid you make and you dont get that money back. Unlike a conventional auction, all prices start at 0. Each time a bid is made the cost of the item rises by a few pence. Like EBay, a stopwatch on each lot counts down to the end of the auction. However, each time someone bids, the time on the clock advances by a few seconds. Also unlike with Ebay, you cant use an AUCTION SNIPER to help you with your bids. The good thing is that the price of each bid is low about 50cents.

I find that placing your bid early or late, and keeping your eyes always focused on the countdown timer helps to make it more likely that you will win the item you want. You might also want to bid at the right time of day for the particular item. You can pick up bargains by bidding when others are likely to be busy having breakfast, taking the kids to school etc. Bid at times when there is less likely to be lots of other people bidding for a particular item. Ask yourself who is likely to want this item? When are they likely to be around to bid for it? Eg washing machines are likely to be bid for by Wives. And stay at home Moms during the daytime.

Do I use penny auctions?

You bet I do but Im very careful about what I bid for and yes I have won a few things but nothing as grand as a new car or a TV. Stuff like a coffee machine, watches and headphones for just a few dollars. I use bidhere auctions

I would say penny auctions are worthwhile as long as you are sensible about it and bid wisely using the above advice.

In these penny pinching times, every penny counts Thats why I always try to find ways to save money whenever I can. Hopefully my advice and experience will help others!