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Are online penny auctions a fake?

Updated: 9/18/2023
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11y ago

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A fake? Online Penny Auctions are a real thing, and people win real items on them. Check out Zeekler, QuiBids, BidCactus, or several others for a reputable online penny auction. I won some earrings for my mother, but I had to watch them for several hours. People see it as more of an entertainment thing than actual shopping, but deals can be had.

If you're interested in how they work, just Google how online penny auctions work, or I think there's a site out there with a similar name - probably several.

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How do online penny auctions work?

Online Penny Auctions work by harnessing the power of individuals all betting for the same item. In a traditional online auction, the bidder pays nothing unless he/she wins that auction. Conversely, in Online Penny Auctions, every bid costs a predetermined amount. For example, an online penny auction might sell bids at $1/bid, and therefore raises money on people betting on items for sale through their website. These auctions are call "Penny Auctions" because each bid raises the final price of that item only $.01. Thus, the winner of said auction can get the item at an incredible discount, where the other bidders lose-out. This has been argued to be gambling, and for all intents and purposes can be seen in a similar light, but in many online auctions you can buy the item outright, and so these auctions often refer to their business as "Competitive Shopping."


What is a 1957b series silver certificate worth?

These sell for a little over a dollar in online auctions.


What kind of auction is a 99p no reserve?

There are many auctions that are offered at 99p no reserve. The very best website for finding 99p no reserve is a site called eBay that has the most auctions online.


How can you invest in penny stocks?

Penny stocks, usually called common stocks, can be invested in for as little as $5 a share either at a brokerage firm or online. Consultation with a broker who specializes in penny stocks is recommended.


How do you sell a car that still has a large balance on the loan?

You could try ebay,auctions, personal sale or want ads in the newspaper or online.

Related questions

How do online penny auctions work?

Online Penny Auctions work by harnessing the power of individuals all betting for the same item. In a traditional online auction, the bidder pays nothing unless he/she wins that auction. Conversely, in Online Penny Auctions, every bid costs a predetermined amount. For example, an online penny auction might sell bids at $1/bid, and therefore raises money on people betting on items for sale through their website. These auctions are call "Penny Auctions" because each bid raises the final price of that item only $.01. Thus, the winner of said auction can get the item at an incredible discount, where the other bidders lose-out. This has been argued to be gambling, and for all intents and purposes can be seen in a similar light, but in many online auctions you can buy the item outright, and so these auctions often refer to their business as "Competitive Shopping."


Where can you get a Wii online for a good price?

You can get a Wii online for a good price at eBay. Sometimes at Amazon. You should compare prices online. Check classiefied adds and penny auctions, too.


Where can I find a list of Government Auctions online?

You can find the list of Government Auctions online. check the following site www.GovernmentAuctions.org/Auctions


Where are there online car auctions?

www.copart.com is the source for online car auctions and parts auctions in America. If you visit this site, all the information you require will be available.


Free Firearms Values online?

Online auctions


What is the leading source of online fraud?

Online Auctions


How can sites like Madbid and other penny auctions sell their goods for so cheap and should you trust them?

Sites such as Madbid and other penny auctions sell their goods so cheap because the bids must be bought in increments. Many of the bidding sites are trust worthy, but others may be scams. Always research the site online before buying bids.


Online gun auctions?

auctionarms.com and gunbroker.com both feature online gun auctions. AuctionZip.com has thousands of live auctions containing guns, and many of these auctions allow online and/or absentee bidding. You might also try GunsInternational.com Gun Classifieds, you deal direct with the seller.


What is teletrade auctions?

Teletrade Certified Coin and Currency Auctions is an online auction that auctions coins and other currency to collectors and coin dealers. They have several online auctions per week.See the related links section for a link to this site.


Where can you find heavy equipment auctions?

Euro Auctions is an online company who offer heavy equipment auctions, which also have online bidding. This is a UK and Ireland company. Alex Lyon and Son in the USA have lists of their upcoming auctions on their website.


Where can one find the best car auctions online?

To find the best car auctions online one should visit car auction sites like Copart USA, Car Export & Used Auto Auction, Online Car Auctions and eBay. These sites all offer some of the best car auctions online.


Are there any jewelry auctions taking place in Delaware?

There are several jewelry auctions taking place at Delaware. There's Penny auctions that offers wide range of selections of items from jewelry to handbags and cosmetics.