Be a smart bidder who knows the potential risks and reward of bidding on online penny auction sites. Mostly the newer sites offer bid packs of a sizeable dollar amount. Also, there are many schemes to get few free bids for the first time users. It is important to be read the guidelines if you are new bidder and are willing to risks a few amount of money for getting top class products at deep discounts via the auction bidding process.
The types of bidding and inherent caution
There are cash auctions where bidding is for a certain cash amount, there is also proxy bidding as a hope for the losers to have a second chance of winning. In each bid process, in many popular sites reviewed at Penny Action police, the bidding amount is increased by one cent every time a bid is placed. Unlike in the ordinary auctions, the final bidders and not the highest bidders are able to purchase the item by paying some shipping cost or for free and the product will be delivered safely to your doorstep. The highest amount of profit goes to the auction site and then some profit is also enjoyed by the winners; however the losers are trapped with heavy losses as after shelling out hundreds of dollars in the auction process they are left with no money and also no product, hence one must bid carefully and strategically in less popular sites with less bidders. People must limit bidding amount to the price of the item and many good sites offer this special limit. Go for sites with automatic bidding and hence people will not miss on bidding due to connectivity problems.
The difference from a traditional auction
A traditional auction is a fun place where you are less stressed as you know you have nothing to lose if someone outbids you, however in case of this penny auctions, there is a threat of losing a huge amount of money in case you lose. Coming home with something rather than a zero is suggested at http://www.pennyauctionpolice.com by using buy now option.
Loser’s haven-buy now options
Penny auctioning is suggestive of gambling. However, the losers can reside on the buy now option available in many sites to buy the products on losing at the retail price. The losers can also check the price genuineness by comparing with other sites and hence make sure he is not being overcharged for the item. The winning members are also given a confirmation of winning in order to intimate them and they are also made aware of the number of wins possible and allowed in a day filled with many auctions.
Sometimes, there are dirty games played in some of the penny auction sites where the retail price of an item auctioned is actually very much lower than displayed, especially in cases of jeweler, accessories where it is difficult to judge the real price. There is a rat race for bidding this dirt-cheap item where the victims lose a huge amount. However, there are many good and genuine sites too.