subject: Online Auctions - Playing For Pennies [print this page] Gambling is often used as a dirty word, but anyone who has gambled responsibly knows that it can be a lot of fun. As soon as the Internet supported payment by credit card, people were able to "pay-to-play" a huge variety of different games. Poker comes to mind immediately, but what about online auctions like eBay or the increasingly popular "Penny Auction" sites? If you've ever spent an hour on eBay bidding for items and winning them for half of what they're worth, you'll know that it is a fun, addictive, and above all rewarding experience. The problem with eBay is that when a lot of people want the same thing it gets expensive!
You want to get cool stuff like cheap MacBook Pros, netbooks, cameras, and gift cards, but you also want to have fun and not waste tons of money doing it. The good news is that there is a new type of online auction, called a "Penny Auction", that allows you to experience the excitement of a bidding war without putting a huge dent in your wallet when you win.
How do Penny Auctions Work?
The best way to learn is to visit a site like Penny Auctions Canada, watch the bidding, and be astounded by the sale prices. When you join, the first thing you need to do is get some bids. Bids are sold in advance in packs of 25, 50, 75 and so on, allowing you to concentrate on the best strategy for winning the items when you're bidding. Each item has a starting price of $0.01, and a timer counting down to the auction close. When you bid, the price increases by one cent, but you will win it at that price unless someone else ups the ante. This continues, but always results in a sale price far lower than the manufacturer's suggested retail price (MSRP).
Strategies for Winning Penny Auctions
If the final sale price is always an insane bargain, what's the catch? The answer: You have to pay for each bid, regardless of whether you win or not. It's like playing the lottery, except that you can actually win, have far more control, and you get something you want out of it (like a brand new Nikon D90 Camera!). The best strategy to maximize your chances of winning without spending a ton of money is to bid on... bid packs! It turns out that one of the most popular items on Penny Auction sites are the bid packs. Winning one of these means that you will only ever have to pay pennies for Big Screen TVs, PlayStation 3s, and other awesome products! If you're smart, you can keep winning bid packs and never have to pay for anything.
A Final Warning
Be warned! This game is addictive and you run the risk of ending up with a closet full of MacBook Pros that you have no use for. It's probably illegal to re-sell them, but they do make great Birthday presents!
by: Jason Walters
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