Penny Auctions: A Great Deal or a Scam?

 Auctions are often fraud? If the electronics can be so expensive, even if you do not want to spend $ 25,000 on a projection TV, you will still want a way to save money on your purchases. And if you are the type of consumers, the hunt for the latest technology when it will be put on the market, you are more motivated to reach an agreement to look for.

must view with the latest games consoles, DVD players, digital cameras, etc. for a ₵, which may in your e-mail or Web sites look very tempting, but as in any case very tempting, you research and understand what is at stake. Let's take a look at how auctions work Penny and see if it is worth your time and money.

What is a Penny Auction?

According to Wikipedia, "an auction is often a kind of auction in which to pay the participating non-refundable fee, an offer to low marginal costs rather than have. When the time is up until the last person places a bid the item wins and also pays the price which is generally much less than the selling price of the "point.

How to buy in action

Penny auction sites like beezid, bidcentsible, bidsauce bidcactus and is calculated usually refundable fee of about $ 15 - $ 20 in force on the alert. Essentially provides bought, which cost between $ 0.10 and $ 1.50 (the load). Each bid is placed increased the price of an item ₵ and adds to the Clock, which the auction. At the end of the auction, the winner of the price of the item is displayed (which is above the tax is not refundable).

How to Make Money Penny auction?

Now you could sell a better idea of how companies can afford a new iPod or iPad for $ 2.41. Say a product reached $ 100, the cost of each offer at $ 1.00. Since each bid the price increases of 1 ₵ this means that 10,000 bids were placed on this product on the market. Someone wins, but the real winner is the owner of the site that paid just sunk $ 10,000 less for the product!

Beware of scams This auction Penny

Often there are legitimate auction sites and Penny auction sites like Penny observe traces of the type of information you need to know to prevent fraud and make the most of your "pennies." However, many auction sites are filled with penny-fraud, and virtually no rules to ensure that you and your portfolio is protected. The most common scams are:

Shill bidding Bot: Some owners Penny auction site using automated software or friends and family members in false bids in an effort to raise the prices file.
Non-delivery of goods or no winner: Some winners do not actually get their papers, or rather, no one will be successful.

Credit card fraud: They know your offers by credit card, which can be dangerous to pay in some places. Instead, they use paypal then protected.

If you are interested in legitimate sites and placing offers on electronics, see Muse, how to make money online auction sites use Penny, a review of the top ten sites penny auction, and the comparison site Cent auctions.

If you want to avoid all the penny auction, you can stick it on ebay this holiday season auction.