How To Win at Penny Auctions

Anyone who’s seen the rock-bottom prices on goods sold at penny auction sites like SkoreIt, Swoopo or Lucky Chic must be at least a little tempted to find out how they can get the same fantastic deals on the most-wanted consumer items. Whether you are in the market for a new computer, or simply looking for good fashion deals, learning about penny auctions can help you get that must-have without going over budget.  Here are a few tips to get you started.

Firstly, do some leg work before signing up. As with other online transactions, you should check the reputation of any penny auction site you plan to join. While penny auctions are a legitimate way of selling, there are many companies getting on the bandwagon. Some sites have been branded as scammers for setting up unfair auctions, while others have a good track record. Because you pay for each bid, you should make sure that you are dealing with a company that plays fair. While there were a number of bad pennies, no pun intended, in the penny auction game when this online shopping trend started out, customer feedback has weeded them out. It shouldn’t be hard to find a reputable auctioneer with some simple research.

What should you look for? Check the penny auction site for a list of previous winners, final price and bid history. Honest sites will not hide this information as it gives them good marketing mileage. Also, read the rules for each site to find out how much each bid is worth, how much it will cost you and any other instructions for new bidders. Check the history of the site and find out as much as you can about the company which runs it. Several sites also have additional features, for example, Pricebenders has a contest called ‘Pick-the-Price’ while Beezid gives away 10 bids to new sign-ups.

Once you’ve chosen a trustworthy penny auction site which lists products you would like to buy, don’t be too hasty to place your first bid. Watch a few auctions in progress, so you can see how other bidders strategize. Read each product description carefully, so you don’t get any nasty surprises. It may seem an obvious detail, but be sure you know the true market value of the item you are bidding on. More user-friendly sites will display the market value of each item, next to the auction details, but it can’t hurt to confirm this.

Expert bidders recommend starting out on low-ticket items with fewer bidders in play. This lets you ease into the process without getting left behind in a fast-paced auction. Some sites offer bid-bots or automatic bidding programs to avoid losses while you are offline. However, these need to be used with caution and only if you truly understand exactly what you are doing. Experienced bidders also stress that one should never bid when exhausted, hungry or under the influence of alcohol. Finally, set a limit for yourself and stick with it. Now sit back and let the auctions begin!

Learn how to get discounts of up to 95% on virtually any item. Click on this Penny Auction Link for our insider’s guide on winning the best penny auction deals on computers, designer apparel, accessories and much more.

Shop Online the Fun Way with Penny Auctions

If you are looking for a way to combine shopping with entertainment, then look no further than penny auctions. Sites featuring this type of auction basically sell a wide array of consumer goods at shockingly low prices. With top-of-the-line laptops going for as low as $113, and a host of similarly astounding offers, the appeal of these auction sites needs no explanation. What’s even better is that this is one fun way to do your shopping, the guilt-free way.

Penny auctions are the latest in “shoppertainment”: a novel way to combine two of the nation’s favorite pastimes: shopping and social gaming. Penny auctions take traditional online auctions up a notch by charging buyers for each bid they place.  In return, these sites offer the chance to purchase straight-from-the factory goods at a fraction of their retail price.  Some examples of good deals up for grabs are $100 gift vouchers at $4.85, brand new Iphones at $33.42 and designer sunglasses for $8.31.

These days, there is a penny auction site for every shopper. Some sites specialize in specific goods, such as Oohilove, which caters to fashionistas. If designer goods are right up your alley, this site offers the chance to grab huge savings on goodies from Gucci, Louboutin and Chanel, among others.  On this site, a buyer recently spent $7.17 for a $50 Macy’s gift card, winning a discount of 85%. If electronics are more your thing, you’ve got a whole host of sites to choose from. Swoopo,  Beezid,  Bidrivals and Bidrodeo are all good places for great electronics deals. However, most popular sites don’t limit the products they sell and give you many categories to choose from. Several sites have even been known to auction off cars and cash. Imagine getting your hands on $2,000 cash by paying only $36 and you can see why these sites have won themselves thousands of Facebook fans and even a write-up in Time magazine.

The thrill of a chance to win consumer goods at a steal has always been hard to resist, which is why online auction sites such as e-bay have always had a steady following. Yet, with penny auctions, buyers pay for each bid and can lose money if they don’t win the auction. With this feature, penny auctions bring the thrill of gaming to online shopping. Depending on the site, bid amounts can be as low as 1 cent or up to $10. Because of this, it is necessary to bid wisely and to apply the same common sense one would with online gaming sites.

To increase the fun factor, many penny auction sites have bonuses and contests for buyers. For example, Swoopo lets you opt to purchase the item you are bidding on at market value, so you don’t lose anything on your bids.  Even better, most sites are currently offering free bids for all each new user. So if shopping and gaming are among your interests, then a visit to one of these sites might just open up a whole new world of fun!

Learn how to get discounts of up to 95% on virtually any item. Click on this Penny Auction link for our insider’s guide on winning the best penny auction deals on computers, designer apparel, accessories and much more.http://gnspf.com/click/?s=133491&c=389048

Winners and Losers at Penny Auctions

Who wouldn’t be attracted to the chance to buy a new Mini at $1358? And how about getting $5,000 cash at the remarkably discounted price tag of $399? A good deal is something that many buyers can’t bear to miss. And the number of users at the many penny auction sites on the Internet is proof that even the mere chance of getting a good deal has the power to draw customers and their dollars. But who really wins at auctions like these? More importantly, who actually stands to lose?  Before you embark on a new auctioneering adventure, be sure to read these important facts.

Penny auction sites charge for each bid. Unlike auctions where bidders set their price, this type of auction has a fixed incremental bid. The original penny auctions had bids of one penny, but auction sites featuring bids of 10 or 15 cents are also common. Users sign up and pay for packages which allow them to place a specific number of bids.  Sites also allow users to purchase bids in bulk, offering them a much lower price per bid for volume buys. Next to each auction item is a ticker, which tells you when the auction ends. Each new bid adds some time to the ticker.

These days, some penny auction sites set auction deadlines in response to complaints from bidders that the extra time for each new bid means that some auctions can go on indefinitely.

The prices on items for sale at penny auction sites are so ridiculously low that many people think the site owners are running some sort of con. How could a company possibly afford to sell a Sony Vaio laptop worth more than $1,000 laptop for just $234? Actually, the companies offering this type of auction make a great profit. With an opening price of zero, one cent per bid, a selling price of $234 translates to 23,400 bids. If the company is selling bids at 50 cents each, this means a total collection of $11,700, which gives them more than $10, 000 of pure profit.  So no matter how crazy the price tag seems, the winner at a penny auction is always the company that is running the auction.

Who else stands to gain from penny auctions? Well, the winner of the auction, of course. Go to any of these sites and review their past auctions and you will find details of  amazing deals, such as a Samsung Home Theatre system for $5.88 and a Canon Powershot camera sold at 22 cents ! Winners of these auctions walk away with in-demand consumer products at massively discounted prices, plus shipping charges if any.  All the other bidders lose the amount they spent on their bids. While these losses can start out at negligible amounts, they can quickly add up if users start bidding uncontrollably. As with e-bay, these auctions can be addictive and time-consuming. If you have a compulsive personality, participating in penny auction sites might prove to be a costly and frustrating habit.

There are lots of penny auction sites offering free bids to new users. Our free penny auction site shows you where to get these risk-free bids and how to use them to win great deals on the latest laptops, cell-phones and electronics.

Penny Auctions-Friend or Foe to Penny Pinchers?

Most people are on the lookout for ways to cut costs but still enjoy the lifestyle they desire. The traditional haunts for high-quality products without their hefty price tags are store sales and factory outlets. The Internet also offers great savings, for example, on trading sites where used items are bought and sold, and auction sites like E-bay, where consumers can save on anything from baby clothes to lawnmowers.  The recent crop of penny auction sites  have registered on bargain hunters’ radars. Sites like these offer up to 95% off the ticket price of brand new electronics, designer apparel, cars, gift cards and cash, but can they really help your bottom-line?

The important thing to note about penny auctions is that you pay to play. If you are an E-bay regular, you are probably familiar with the ins-and-outs of free bidding. With penny auctions, however, each bid costs money.  Membership on these sites is usually free, but you can’t bid unless you buy a bid package. Bids increase the selling price of an item by minimal amounts, from 1 to 10 cents. However, bidders pay a higher price per bid, often between 50 and 80 cents. The more bids in the package, the lower the cost per bid. Auction sites still turn a profit when they sell, say, an LG Blue-ray player for $5.10 because they gain from selling bids, rather than from selling the items.

Other than that, penny auctions are similar to other types of auctions.  Each auction item features a timer, displaying how much time is left. Each new bid extends the auction time and when the timer hits zero, the last bidder can purchase the item at the final price. Some amazing deals have been won this way, for example, gold bars worth thousands of dollars sold at less than ten percent of their value. It’s hard to say no to prices like these, but penny auctions really only benefit two parties: the auction sites and the winning bidder. Everyone else loses, that includes hundreds of bidders just like you.

In other words, if you have very limited funds, penny auctions are not reliable way to save  money. Since you are bound to lose some auctions before you actually win, unless you are extremely lucky or skilled at auctioning, you must be prepared to spend some money before you win.  Also, sites like Swoopo and Pricebenders tend to feature items such as designer bags, store gift cards and pricey electronics, which tend to be ‘wants’ rather than the ‘needs’.  If you have a history of getting caught up in auctions or social-gaming sites, you should also steer clear of sites like these since they can spark compulsive behavior.  On the other hand, penny auctions are worth a look if you are looking for a little fun with a chance at the buy of a lifetime. Staying realistic about your chances and bidding sensibly makes for a harmless bit of fun, with the possibility of a pot of gold at the end of the auction.

Do you want to avoid the mistakes that stop beginners from scoring big on Penny Auctions? Visit this penny auction site for advice from multiple winners, listings of the best sites, tested strategies and more!

Penny auction sites

Penny auction sites are gaining popularity, mainly because of the amazing price cuts they offer buyers. It’s not uncommon to see the latest gadgets, for example, flat screen TVs and Macbooks going for as low as two hundred dollars. Some of the popular sites featuring this latest type of auction have even sold off brand-new vehicles to lucky buyers for under $2,000!  Among the recently winners at Madbids, a UK site, is a recent winner who drove away with a brand new Mini after paying only 9% of the retail price. Beezids, a US site, has similar success stories, with one happy buyer scoring a 37” HD television for only $34.37.  With such low prices, it’s easy to dismiss these sites as unethical scammers out to relieve the gullible masses of their hard-earned dollars. In reality though, this latest type of auction is a great way to score fantastic deals on brand new items, as long as you know what you are doing.

The main difference between penny auction sites and regular online auctions, such as e-bay, is that potential buyers can bid on e-bay for free. On the other hand, people who want to bid on the latest gadgets and equipment on penny auction sites need to sign up and pay for bid packages, of various denominations.  By charging customers for each bid, the site gets to sell products at a fraction of their market value and still make a profit. Each bid is generally worth one cent, so for each time you bid, the auction price goes up by a penny. Unlike other kinds of auctions, where you only pay if you win the auction, placing a bid on sites like Swoopo, BidHere or Beezid will cost you money, so you stand to lose the amount you have bid. On the other hand, winning a penny auction means that you will get some of the latest brand-name gadgets, fashion items, store vouchers and all sorts of other great items at a steal.

So what kinds of items can you buy at a penny auction? While many auction sites tend to feature electronic items, you can find anything under the sun listed on these fantastic sites. Hot favorites among penny bidders are the latest high-tech toys such as the Nikon cameras, Playstations and HD LCD televisions, sold at one-tenth of their list price.  Members also get into hot bids over cash vouchers at some of the most popular chain stores, including Target and JC Penney. Recently, a lucky bidder purchased a $75 Target Gift Card for only $1.24.

With prices like these, it’s clear that penny auctions are here to stay. There are hundreds of such sites opening up to tap into this online shopping revolution, so you’re bound to find a site that caters to your interests and needs, and more importantly, your budget. To get the most out of a penny auction, be sure to do thorough research on the site. With a little homework and strategizing, you could soon be raving about your latest win to family and friends.

Swoopo and Eunibids are among the most popular and reliable penny auction sites. Visit our penny auction winners’ site to find out exactly how to win big at your first bid with Swoopo and Eunibids strategies and reviews.

Penny Auction Phenomenon

There is a new way to tender and win at auction. Called Penny Auctions, and no matter if you are looking for a new laptop, iPod or big TV people

 they are saving hundreds, sometimes thousands of dollars on things they want most. Penny Auctions are a form of auction where bidders pre-pay for their bids and then use the bids to drive up the auction price of an item from a single penny. The price of the auction end is usually ridiculously low, so that candidates get to pocket the savings.

Penny Auction There are many sites to choose from out there. They all have their pros and cons that participants should consider before tendering. For example, a very popular site like Swoopo, what are your chances of winning really? On the other hand, if a site no one ever heard of, how do you know if you are meticulous;

One of the most important things to consider when bidding is the price points for offers? How much to invest in advance in order to have the opportunity to win something? Then I really saving?

A site that has the savings on to the next level is 5050auctions.com. This site not only offers a reasonable pricepoint, but when you factor in the motivation of stocks and special discounts to throw, this site shoots in front of the pack in terms of value.

5050auctions Penny has run auctions for over a year and candidates have won over $ 50,000 in items in savings averaging 90% or more. It is the only site Penny Auction auction where the winners actually receive 50% of all the competitions they used to win back their behalf. They then use these offers to gain more information. There is no Penny Auction Site offers this incentive.

It is also the only region where the point values not exceeding 50 cents. In many locations, although the offer may be increased only the item price by 1 penny, the price of the item comes in fact amounts to $ 50 or more. So, on top of competing for money spent on public offerings, we must then pay more dollars for the item. Not in 5050. Item prices never go above 50 cents, to $ 10 flat fee for shipping. This equates to an even greater savings for users.

Find Penny Auction on Facebook

Be Cautious of Online Penny Auction Sites

Online ads, often designed to look like news, is cropping up on popular websites that claim you can get great deals on iPads and other electronics with on-line auction pen. Discounts are offered on auction sites is damn tempting, but the Better Business Bureau warns that bargain hunters should stop and do their research before the first offer.

More often auction pen, users must create an account and offers to purchase by credit or debit card; Each individual offer can cost less than a dollar and are often sold in packs of 100 or more. Each object has a countdown clock and as people bid, the cost of the item goes out and more time is added to the clock. Even if you win the item, you can still pay for the bids you place that can add up over time.

"BBB has received hundreds of complaints from consumers about a penny auctions so far this year and we are encouraging online bargain hunters to do their research," said Alison Southwick, BBB spokesperson. "Unlike a typical auction, unsuccessfully bid for an item using an auction will cost you a penny even BBB has heard from people who have lost thousands of dollars on items and offers nothing to show for it. "

Many people have complained to BBB about automatically charged $ 150 just for signing up for what is supposedly a free trial. These complainants expressed concern that some sites use fake bidders and "bots" to raise prices on items. Customer support is also a major problem, as many complainants state that they had a very difficult time receiving refunds or resolve other issues with the company.

Before the first bid at an auction a damn:

Research the auction pen with BBB first. Not all penny auctions are equal and BBB ratings on various sites range from A-F to search the auction site ever pen with your BBB before http://www.bbb.org/us/Find-Business-Reviews/

Read the fine print carefully. Before providing any personal information or subscribing to any "free" trial auction pen, read the fine print carefully on the website. Pay close attention to details on registration and annual fees, minimum requirements for bidding, the maximum amounts of prizes and how to get a refund.

Know what you buy. Before bidding on an item, research how much it costs elsewhere and keep track of how much you spend on the total offerings to see if you're really getting a good deal.

Closely monitor the status of your credit card. Many have complained to BBB about being charged unexpectedly more than $ 150 for registration. Some complaints were also automatically charged for more bids, when he ran out or for an annual subscription fee, do not realize this would happen.

You can contact the BBB if you think you have been cheated. If you think you are misled by a penny auction site, submit your BBB complaint. BBB has helped clients to resolve their issues, including refunds take. If the company does not cooperate, your complaint will still go down to the company's BBB reliability report and serve as a warning to others.

Penny Auction on Facebook

Penny Auction Sites Hurt by Glut of Competitors

Over the past few years, Silicon Valley has become enamored with a new kind of e-commerce: auctions dime. On sites like Bidrivals.com and Bidcactus, flat-screen TVs, laptops, iPads, and other products that sell for a fraction of retail price. There is a catch: Students pay a little money every time you bid, and any delay in the bid of the auction end time by several seconds. 

The first player in the auction pen, the Munich-based Entertainment Shopping, racked up torrid gains after it was founded in 2005, according to investors and entrepreneurs who studied the performance of the private company. Copycat acts popped up all over the world. Now move on auction sites dime reduced, and companies looking for a business model that works. 

Entertainment Shopping called Swoopo.com in the U.S. and parts of Europe, has more than 150 opponents with names like BidCactus and PriceSaver. Some of them backed by venture capital. Atomico, the investment firm of Skype founders Janus Friis and Niklas Zennström, invested 6 million U.S. dollars last month in a London-based startup called Madbids.com. venture company Google CEO Eric Schmidt, tomorrow Ventures, which also recently an unknown amount oohilove.com, a penny auctions site specializing in luxury women like bags. 

The audience for this combination of shopping and gambling has grown with the sector and the regions have led to an increase in the price of keyword advertising on Google, as "cheap iPad." Buying keywords on search sites is the main way to auction sites advertise products for sale. Traffic USA, Swoopo fell 62 percent between January and July, according to Web tracking firm compete. Beezid is below 50 percent and BidCactus less than 37 percent during the same period. "There was no other business out there manufacturing these kinds of profits, and leading the competition," says Paul Tsyrlin, co-founder of Atlanta-based penny auction site called Wavee. «A lot of people were unprepared for how difficult for a company that has been done. " Wavee traffic has declined steadily since the beginning of the year, partly because they stopped advertising. 

Some customers decided that the offer on auction sites did not do a damn good economic sense. Participants will spend a total of $ 1,500, so one of them could win a $ 1.000 lap-top for $ 50. The sites found that many customers are left unhappy after paying for bids, but losing auctions. Last year, many auction sites, including BidCactus, Swoopo, Bigdeal and Oklahoma City-based Quibids, said that losing bidders could "offer to buy, or apply the amount spent on an offer subject to buy in retail price. They destroyed the profit margins of companies. "These companies went from cutting money to make money rather than people who offer to buy, and then lost money for the man who won" says Tsyrlin. "The swing was massive, and the company became unbearable." 

Some of the biggest attractions are rolling back the rule changes. BigDeal, based in San Francisco, no longer offers a "Buy Now" feature for popular items like iPads, citing restrictions census. Swoopo now lets customers apply the money spent on losing bids for only 25 percent of the price of final markets; Before the spring, users could apply the money to 100 percent. CEO Swoopo, Frank Han, declined comment.

 Penny Auction on Facebook

Highest Ranked Auction Sites

If you've wondered what auction sites are better integrated, we've taken the guesswork out and collected this complete list of auction. Continue reading to learn what areas ranked highest in terms of transparency, customer service and product range.

Swoopo - This auction site has been online for some time and positioned itself to be the highest-ranking site that offers online buyers. From the largest range of electronics for the hottest gift cards, online shoppers and bargain hunters to get these items for unbelievable discounts - up to 90% of the suggested retail prices. From time to time, Swoopo.com offers some awesome promotional offers.

Swizzie.com - Even if Swizzie.com less than a year, the area offers a wide range of products - gift cards, electronics, and computer accessories. The site also features an interactive tool offering, where users can see where and when bids are placed, which is powered by technology from Google. Swizzie.com also offers free shipping on all merchandise with the winning hassle free performance. Be sure to check out the site.

OohiLove.com - There is no live auction site that offers online buyers only sell branded, high-end handbags, jewelry and gift cards. This site offers more hot trends in jewelry and accessories for online shoppers alike. Our customer service team is helpful and the range of products is unbelievable. Visit OohILove.com to view full inventory.

Justhaute.com - Justhaute.com has a great selection of high-end products. The latest kitchen appliances Sephora color palettes in order designer purses, JustHaute.com is the dream of every woman. Our customer service team is easily accessible, making the site one of the top live auction sites available today. JustHaute.com also offers free shipping on most goods.

Upchoo.com - This auction site is similar to JustHaute.com, but most products can meet the male demographics. From watches to the latest smart phones, Upchoo.com has a wide selection of products that online shoppers can choose.

Basically, live auction sites is the latest craze; However, there are many fake sites, so be sure to research each customer site and return / cancellation policies.

Before you start your auction, you must Read this Article : Penny Auction Article