How to Get the Best Out Of the Penny Auctionby Bid Vid Consultant
A premium content link page about how penny auction on the internet work with some advice like recommending that after fully understanding the mechanics of the way it all works a person should get practical experience by first bidding on relatively low value products.
How to go about getting a bargain with online auctions involves having a full understanding of how the system works and then making bids at the right point of time.
Step 1: First it is taken that you have a computer with wireless device and plenty of time to keep an eye on the auction in which you are participating. Choose the penny auction site that offers the best prizes and then register all your personal details.
Some sites offer an inducement to join by giving free bids at registration and as long as you are over the age of eighteen the fun of looking for top live auctions with great products can begin.
Step 2: Buy a good number of bids to add to the initial free ones you may have been offered and remember to keep these bids at a quantity level your budget allows. The price of the bids varies from one site to another and it should be easy to figure out that if the bids are ten pence apiece then a batch of one hundred will cost ten pounds.
Step 3: All the items in the auction are brand new original manufacturers with usual warranty just as if you had bought it from a reputable high street store. Select the item you want and watch the bidding begin. Get an understanding of how the value goes up by just pennies with every bid.
It is for this reason that this type of auction is often referred to as a penny auction as the bids bear no direct relation to the actual amount bid as the value only rises in pennies not pounds.
Step 4: Every item has a clock above or beside it which is constantly counting down to zero. You will notice that it resets as a last second bid comes in. The reset time can vary from site to site so this is another bit of knowledge you should really have gleaned from the small print before playing.
The person who makes the final bid at the clock deadline of zero seconds wins the prize and must then follow the necessary procedure to claim this prize. A final payment is made to include the end value of the bid which may well be just a few pounds for a one thousand pound latest wireless device or computer and there will be some shipping cost.
Hot Tips: It cannot be stressed enough that the more knowledge you have of the exact working of these auctions the more likely you are to bag a bargain. It is highly recommended that a beginner should make bids on low value items in order to get a full understanding of the system and not to waste too much money learning the ropes.
Be Aware: All the bids cannot be refunded whether you win or lose the many bids that have come from different people for that item is kept by the organisers of these auctions and naturally this is how they make their profit.
Created on Dec 31st 1969 18:00. Viewed 0 times.