Are penny auctions or online bidding sites worth it?
Should you go to online deal sites to find great deals?
Online bidding sites are becoming popular. I think the reason for this is that more and more people are hearing about the advantages of penny auctions. In fact, the largest online site rakes in around $25 million dollars a month in revenue.
People from all over the world visit penny auctions, and many participate in the hope of getting great deals on goods or services.
People are receptive to finding deals on online deal sites because they can find deals that are 99% off retail prices.
Bargain websites are able to offer these deep discounts because the products on offer start the bidding process priced at just one cent.
A penny is confusing to many because a penny is actually representative of spending between $.50 and $1.00 per offer. An example of this would be me bidding on a TV where the final bid would show that the winner won the TV for only $5.00 dollars. The actual number must show that the television was awarded to the winner for $50.00 based on television offers that cost one dollar for every penny spent.
Each offer of one cent represents one dollar spent. For some sites, you’re lucky enough to only have to spend $.50 per offer. This represents a great bargain.
Spending $.50 on bids {giving this example} will allow the winning bidder to get this TV for only $25.00, plus tax and shipping.
The bidding process with penny auction sites is similar to eBay, but with bidding websites you must use bidding. Offers are much like tokens. However, offers are intangible products.
There has been criticism of penny auctions. The main complaint is that there are multiple bidders for the item being bid on, but there can only be one winner per item sold. The problem is magnified because many people are spending fifty cents to a dollar per offer in the hope that low price
The remedy to this problem is easily understood with this explanation.
You can still get a great deal by shopping on penny auction sites even after the auction has ended. The prices are usually only good for a limited period of time; so you need to hurry up to buy the item you want.
Typically, the customer who participates in penny auction websites will probably bid on the products they actually want. This means that it was worth using the online deals site because you can find the product you want at a good price. And if you win the bid, chances are you got a great price. In addition to these benefits, I have found the online bidding process to be very exciting.
I recently made an offer on a 65-inch TV and my heart was racing. The bidding process gets the adrenaline flowing. It’s fun to do.