Zeekler Penny Auctions
by Ljerka S. TeacherHow Penny Auctions Work:
Penny Auctions are a new and innovative approach to the auction pace. Unlike
traditional e-Bay style auctions, penny auctions work with a 20-second timer
and on a pay-per-bid basis. In a typical e-Bay auction, bidders wait until the
closing seconds to place a bid and hopefully outbid all other bidders as the
clock winds down. In a penny auction, when a bidder places a bid, it adds 20
seconds to the clock to allow other bidders the opportunity to bid over
you. The price of the item goes up 1¢ at a time. After you bid, the timer
counts down from 20 seconds, and if no one has bid over you, you win the
auction.
Penny Auctions work on a pay-per-bid model, which is also different than e-Bay
style auctions. When bidding in a penny auction you must purchase a Bid Pack.
On Zeekler, bids are $0.65 each. Even though bids cost you $0.65 each, the
value of the item you
are bidding on increases by 1¢, so you are paying with every bid you
place, hence pay-per-bid.
Bidding in penny auctions requires strategy, and bids. We encourage newcomers
to participate in Beginner Auctions only. Bidders with fewer than three wins
can participate
in them (fewer bidders=less competition). From the Zeekler Penny Auction
page click on "Auctions" and select 'Beginners Auctions'.
Second get the stars out of your eyes. Go after auctions with fewer bidders and
less action.
When an iPad2 comes on the auction block you must account for all the other
more experienced bidders that will be participating. Take your time and develop
a strategy. Some bidders choose intimidating names. Others win as many
auctions as possible so when new bidders go and look at the winner’s circle and
see the name all over the place, the new bidder may back out of the auction
once they see the name. Start small then win big. Get a couple of
wins under your belt, and understand how the bidding works. There is risk
involved in penny auctions because there is no guarantee that you will get a
good deal. It is very easy to get caught up in the heat of the moment and spend
more in bids to win an auction than if you just bought the product from a
retail store. Penny auctions are not like shopping at Wal-Mart. They are
entertainment. You play in hopes of winning a product that is also a great
deal. But, it does not happen ALL the time.
Zeekler has penny auctions running at 6:15 pm New York Time every Monday,
Tuesday and Thursday. Every Wednesday at 12:15 pm New York Time.
I hope you'll like my post and post a comment or two, and have a look at my
page : http://bit.ly/jo43b6
Ljerka
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Created on Dec 31st 1969 18:00. Viewed 0 times.