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
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.
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