online auction websites | Penny auction sites: is it worth embarking on this new fashion?

Penny auction sites: is it worth embarking on this new fashion?


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Auctions have always attracted the attention of consumers, since it is possible to buy expensive products for values ​​well below the market. Who ever wanted to close a "China business" and buy something really good for a small price ?!

From televisions to cars and real estate, auctions have become a common activity. With the popularization of the internet and the evolution of technology, the buying and selling of products through bids has won virtual versions, in which those interested do not need to be physically present to pick up a good.

With the arrival of the auctions to the world computer network, a new category of this activity was created, the so-called auction of a penny. The idea is almost the same: the users bid, the product dispute is great, only one leads the merchandise. But, as stated, the idea is almost the same.
The penny auctions
What's different?

In the penny auction, the user who takes the product is not the one that gives the highest bid, but rather the one that gives the last. For each given bid, the value of the product is increased by one cent, and one unit is discounted from its bid package.

penny to penny

The duration of the auction will depend on the number of users who are disputing the product. Each given throw increases the time by ten seconds. That is, the more people want to get the goods, the longer the auction is open and the lower the chances of winning.
Bid Package?To compete for a commodity, the user first needs to purchase a bid package, which is nothing more than a set number of bids that he can bid on the site. The value of this package varies according to the site, as well as the minimum number of bids that the user must acquire.

Some penny auction portals do not sell packages with less than 100 bids. Others, usually smaller services, allow the user to buy 10 or 20 bids. It is precisely in the idea of ​​the bid package that the profits of the sites are.
Profits and partnerships

For-Profit Sales As explained above, users need to purchase bids in order to participate in an auction. Most portals sell each bid at $ 1.

That way, if a product had 6,000 bids, for example, and the user that bought it took the merchandise for $ 60, the site will profit R $ 6,000, only with the bids. This is how penny auction portals profit.

Another way to raise money that the sites use is through partnerships with the stores that supply the products. That way they can buy cheaper products and sell them for more than they are worth, without the user feeling it directly.
Is it worth it?

The biggest concern of users when it comes to buying the internet (not just auctions) is: "Can you trust and be worth it?". With the news of fraud and data theft more frequent in the news, it is totally understandable that such questions arise in the minds of consumers.

And now? With regard to trust in the penny auction portals, there is always the internet to help in finding information regarding the sites. Through any search service you can check for many complaints or no complaints regarding the auction site.

There are those who say that the winning users of the auctions are actually robot users and that there is no real winner. However, there is also the other side of people who claim to have bought new goods for values ​​well below those practiced in the market.Better known services tend to be also more reliable and to do everything within the established rules. For these reasons, give preference to the most popular sites of this type of service.

As quoted in the paragraphs above, a good way to get some questions regarding the portals you are visiting is through internet searches, but the sources of information should also be reputable and reliable.

If you decide to try your luck and take chances, start with small, low-value bidding packages. The same goes for the products. Give preference to lower priced goods in the beginning. If all goes well, it might be worth risking something bigger.

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If you, dear reader, have already tried your luck on a penny auction site, be sure to tell your story and share the experience with other users.