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- Penny auction is simply an online auction service where first of all you need to buy bids. So, this is a kind of prepaid service, first you buy bids, next, you can bid on auction of your choice.
- On good penny auction services you are allowed to buy only brand new products so you are sure you receive product in best available condition. Also there are services offering free shipping no matter where you live :)
- When you bid on single auction then usually it's price goes up for $0.01. So, this is not about increasing the price a lot, because 100 bids would change the price up for only $1. So, the potential of buying products for extremely cheap prices that way looks great. Especially when auction starts from $0.01!
- Each bid increases auction time and auction time may be as short as even thirty seconds! So, that's quite logical that auction time should be extended when someone bids on it.
Maybe some practical example would put some lights on.
Let's say you want to buy plasma TV, which retail price is $650. So, you buy 150 bids pack, which equals $74. On my website you can learn where you can buy bids for such low price ($0.66 per bid).
OK., lets move on. Auction ends, you placed 100 bids, which is a lot for a single auction and usually it ends with max few bids per person - but let's make such example.
Let's say you win that auction and you have to pay for your TV $42. For penny auctions this is quite normal price. Now, as you know, the retail price for that item is $650 and you did some investment - you bought bids pack for 74 dollars and you have to pay 42 dollars for TV, so you save $534! And such auctions are often finished in 20 - 30 minutes.
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How do you use 'penny auction' in a sentence?
I got this iPod from the penny auction.
What is good definition of penny auction?
Any auction where starting price is 1 cent.
What is the best way to use a penny auction?
Online penny auction gives you advantage of purchasing quality and branded products under the most affordable price.
What is the deffiniton of hepher?
fat overweight
What is the deffiniton of a nonfiction book?
True story.
What are some of the products offered on penny auction websites?
Penny auction websites are always offered electronics goods, appliance, gift card and many items. Penny auction website are always sell the items from the lowest price and make the time limited to make the customers to bid the price and after the time the highest price customer will be the winner to buy that item.
Are there any good penny auction sites?
There are good and bad penny auctions sites which is why it is important to do research and read reviews from other people. Popular penny auction sites such as swoopo.com have a lot of people bidding which makes it more difficult to win. Other penny auction sites such as Zeekler.com have less people, but have been around a lot longer and because there aren't as many people bidding, it's sometimes easier to win something. I am a rep for Zeekler and by far it is one of the most reputable penny auctions tbinnovate.zeekler.com
What is the most a Lincoln penny has ever sold for at an auction?
More than likely the 1944 matte proof penny. It was stuck in steel instead of copper.
Who will have the the black penny stamp?
The One Penny Black is the first stamp created. Most dealers will have them for sale. You can also find them on auction sites as well.
Can you Trust gozila.co.uk penny auction?
Gozila penny auction is just just like the others penny auctions in UK. Main features for all of them: Every bid costs 0.5 pound. Bid increases price by 0.01 pound. A lot of players so it's hard to win. Awyway, Gozila is legit.
What is madbid?
MadBid.com is a UK-based penny auction site. A good overview is available at thepennyauctionsite.co.uk/what-is-madbid/
How many penny auction sites are on the internet?
There are about 5 companies that are operating as penny auctions but they are not legit! Beware!! You should just use a trusted site like amazon or Ebay.
