subject: Penny auctions - A great way to shop online [print this page] Penny auctions - A great way to shop online
As the number of internet users grows by the minute more and more people are shopping online with the likes of eBay and Amazon. However a fantastic new auction concept is offering online shoppers to have fun shopping online whist making great savings.
A penny auction is a form of auction which is designed to be fun and entertaining. Basically an auction will start at 0.00 and will only increase in penny increments every time someone places a bid, each auction will have a timer which can range anywhere from 2 minutes to 30 seconds. When the first bid is place the timer will count down and when another user places a bid the timer will re-set to it's original time and start counting down again. This process will continue until no-one else places a bid within the time and the auction will then close. The highest (last bidder) will win the right to purchase the product for the final closing price of an auction.
Penny auction websites are pay-to-bid auctions and you will have to purchase your bids in advance before you can bid on an auction. Bid prices range from site to site but beware the sites that offer bid packages cheaply may be fake or not offer the same service as other more expensive sites, they also tend to have a very limited number of auctions.
Most good penny auction sites will offer you between 2-5 free bids upon sign up so that you can try the service out. Some of the best sites will offer some kind of special offer to new users such as a bids back guarantee to new users such as if you buy a package of bids and do not win you will get those bids back in your account the next day.
A genuine penny auction site will offer a great range of products from top brands. These products may include electrical products such as iPods, iPhones and laptops as well as furniture, high street vouchers, cars and other great products.
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