| While there are many reputable and transparent penny auctions site where you can have a very profitable buying experience, there is no dearth of dubious penny auctions as well. A very common practice among some auction sites is that they make their employees and friends bid for items or create fake user IDs through a built-in automatic script in order to place fake bids.
Bids have to be bought in penny auctions and that’s the main source of earning for these auctions. Now by placing fictitious bids these sites intend to extend the auction time so that more bids are placed. Every bid is going to increase the price of the item by a penny. Therefore, you may end up paying more for an item compared to what you have to pay to bag the item in a legitimate site.
Launching a penny auctions site is not a big deal today. It’s inexpensive. This can be attributed to the ready availability of a large number of auction scripts. Therefore, the number of penny auctions is growing by the day, many of which are economically weak. Now in order to sustain itself a site has to attract enough bids. The total amount of cash collected from all bids placed on all its items should be more than the retail price of all the items on the site in order that the site doesn’t incur any loss.
Poor penny auctions sites spend little or nothing on publicity or search engine optimization, and thus fail to attract enough bids. Such sites disappear overnight but not before taking away people’s money, and failing to ship items to winners. True, that you will face much stiffer competition for winning items in reputable sites but you won’t be duped by them.
And reputable sites offer many other buying options apart from bidding such as BUY NOW etc. You can always opt for one of those to directly buy items from the sites at handsome discounts. The Buy Now for instance allows you to quit bidding midway and buy the item directly at a discount equal to the bids placed by you on the item; so you don’t lose your bids. You may also opt for the automatic bidder that reputable sites offer. You can set the automatic bidder to place bids for you when you are offline. It will place bids within your chosen price range and with your specified amount of bids.
Reputable penny auctions sites always use reputable payment gateways like PayPal. Also the range of products is very wide. You will find iPads, iPhones, laptops, gift cards, free bid packs, iPods, HDTV and a plethora of products on reputable sites. Also reputable sites are integrated with famous social sites like Facebook, Myspace and Twitter.
Log on to bidzillion.com, a very reputable and legitimate penny auctions site. |
Article Details