What were penny auctions?
Basically, a person lists an item for sale for a fraction of what that item is worth. Let's say I want to sell my car. I list it for $1.00 but I charge everyone who wants to join the auction a dollar for every bid they make. If I can get 1,000 bidders and each bidder makes 10 bids...well you can see how I could get a good price for my old jalopy. Meanwhile a buyer can get my car for his 11 bids or $11.00 Sounds great to get a car for $11 but keep in mind the other 999 bidders have all lost their money.
On the auction site eBay penny auctions are used to cheat the feedback system. A seller lists a non-existant item for one penny and the buyer gets the item for one penny, meanwhile they both pad their feedback.
Sellers on eBay also use them to build a mailing list. They use the penny item as a loss leader in order to get a huge number of valuable email addresses.
There are legitimate uses for penny auctions. The website Pheebay promotes penny auctions to publicise online sellers. Valuable items are listed for one penny(or cent) with no reserve and after seven days the item goes to the highest bidder, even if the bidding only reaches two cents.
A seller may also use a penny starting bid to attract immediate attention and generate excitement about a popular item they are selling to get the bidding going knowing that the end price of the item they have to offer is generally in a certain range. For instance if you go to a large website like eBay you may find 15 copies of a recently released novel. The one started for one cent will attract bidders before the one started for $10 as long as the shipping and condition are the same. And it is not uncommon to see the one started for a lower bid go for more in the end than the one started for the higher bid due to the excitement generated attracting more bidders and driving traffic to the sellers listing. Of course sometimes a seller does not attract the customers he or she has hoped to attract with the low opening bid, but in the end, selling at the lower price may also add a loyal customer. This would be a customer who will add this seller to their "favorites" and continue to buy from them for years to come.
many sites now auction gift cards such as walmart gift cards, and visa gift cards.
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… Read More
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. Read More
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… Read More
About $1 but for a 50 penny roll (of that penny) on on-line auctions can sell anywhere from $2 to well over $50(if your auctioneers are in a good mood).That pretty good if you ask me Read More
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. Read More
No doubt the best penny auction site is Smokoo. I say this because they've are amazingly transparent and have the best customer service. Their lineup of auctions is by far the best in the world. I have only been on www.tbinnovate.zeekler.com plus we give free bids that work for most auctions. Read More
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… Read More
Raffle, ebay, craigslist, those penny autions or low money auctions Read More
Recently, with the rise in popularity of "penny auctions", sites such as Quibids and Bidcactus have been getting their fair share of internet traffic. As for general auction sites, one can find auctions to bid on at sites such as Amazon, Sam's Club, and Public Surplus. Read More
Recent sales of these by Heritage Auctions (ha.com) range from $4,000 to $373,000 depending on condition and mintmark. Read More
no, not at all. All penny auctions, regardless of reputation, are a bad idea and should be avoided. All penny auctions, regardless of reputation, are a bad idea and should be avoided. First of all, QuiBids.com and other penny auction sites require people to pay for the option to bid, but don't allow them to bid in increments of their choosing. This means that QuiBids is forcing the price up and profiting all the while. Read More
Yes they do, but you need to understand them fully and note that each site that offers penny auctions offers them slightly differently. You're almost guaranteed to lose if you just jump in without first doing a bit of research. It's like anything I guess. You just can't assume you'll do well without study and practice. But if you check the rules out, set your bid limits strictly, bid on the cheaper items and also… Read More
The Penny Auctions during the Great Depression were where farmers got together, preformed satanic rituals, and then got really drunk. After several drinks, they barfed into a barrel, then mixed it with their alcohol-saturated piss. They would sell cups of it for a penny each. Read More
Well value is dependent upon demand, condition, rarity, and other things. In Jan 2005 someone paid $431,250 for a 1793 uncirculated penny at auction. There may have been higher prices since then in more recent auctions. Read More
Penny auctions are NOT traditional auctions and more akin to gambling and gaming. You purchase 'bids' and this allows you to bid on an item. There is ABSOLUTELY NO GUARANTEE that you will win anything and each time you bid you have to pay. This new breed of website has come in for a lot of criticism with a number of these sites being closed down for 'automating' bids ensuring a real person bids against… Read More
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. Read More
Too many to list. A few types: Concerts, auctions, car washes, and penny drives. Read More
Right now I think mastibids is the best online auctions website. I've won twice there in just 2 weeks! And they are like really quick with shipping the product. The bid packs are also cheaper. But this is a penny auction site. If you want other types of auctions, I'm not quite sure. Read More
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. Read More
I've seen this coin go for as little as $22 on e-bay but I've also seen it go for $572 on other on on-line auctions Read More
Grab and go auctions and sold to the highest bidder auctions... Read More
There are a lot of places that have car auctions in the UK. Newport Car Auctions and British Car Auctions have websites with more information on when and where. Read More
They haven't. The auction never ends! They make you believe that you've won the item that you are bidding on, then they reset the clock on you! Check out all the stories about this scam on the link that I've included. Join and fight back! Read More
The best place to purchase Wii skins for on the high street is at GameStop, eBay, Bol or even Amazon. Check penny auctions and classified adds from your area, too. Read More
There are several famous car auctions. Some examples are Barrett Jackson, Mecum, Classic Car Auctions, Copart, Bonhams, British Car Auctions and RM Auctions. Read More
Merlin Car Auctions is a company that auctions used cars and is based out of Ireland. One can find information on Merlin Car Auctions through their website or by calling them directly. Read More
Cars are sold at BCA auctions. BCA stands for British Car Auctions. They auction many different vehicles and hold hundreds of auctions every week. One can make an account on their website. Read More
British Car Auctions offers many services in terms of car auctioning such as purchasing a car from the auctions and British Car Auctions also lets you examine the cars before you purchase them. Read More
There are thousands of used car auctions in the U.S. Read More
Car auctions can operate in many different ways. However, car auctions typically sell cars based on the highest bidder. Read More
The utmost advantage of online auction is that it helps to save a huge sum of cash.Without any purpose of promoting any meticulous website and just basing this instance on the truth that it is among the well- known auction websites on the Internet. Read More
Charity Car Auctions auctions off vehicles that have been donated by individuals. This donated money is then given over to assorted deserving charities. Read More
MadBid.com is the UK's most popular penny auction site. In my opinion, it deserves to be so. It has the widest product selection, the biggest auctions (e.g. cars) and its delivery times are good. You can read more reviews at http://thepennyauctionsite.co.uk/madbid-reviews/ Read More
British Car Auctions is a company in Europe and the UK that holds British car auctions. They have a large variety of vehicles, new and used, to choose from. Read More
Car auctions are often listed in local newspapers or on websites that specialize in auctions. Often you can ask to be on their mailing lists to keep you updated. Read More
There are many websites available online that list auctions for heavy equipment in Canada. Some of these websites include Bryan's Farm, AuctionTime, AuctionZip, RB Auction, LVG Auctions, Aero Auctions and National Auction List. Read More
Online car auctions can be found on sites such as eBay, Auto Trader and Copart Auctions. Many local and state governments also offer information on auctions of automobiles seized buy Police, Sheriff, DHS and other government agencies. Read More
You will be able to find auctions near you using AuctionZip.com ... They have over 20,000 auctions throughout the US and allow you to search for free. Read More
Yes at computer auctions you can buy the whole pc or you can purchase many parts.You can get a bargain at these auctions especially if no one bids against you. Read More
Gun auctions can be found from many different resources. Online, some of the best resources for finding gun auctions include the websites GunBroker and Calguns. Read More
100% you can trust plbid.co.uk because i have won an item and i received. Plbid penny auction is just not like others penny auctions in UK because they offering more free bids all the time and great customer service. Not only me, there is many other user say good feedback about this site. You can see in their winner page. So everyone can trust plbid.co.uk Main features for all of them: Every bid costs £0.45… Read More
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. Read More
Almost all penny auction sites operate on the same principle which some people have compared to a form of gambling. Come check out www.pennypavilion.com for great auction items and for a limited time get 50% more bids on every package we have. So kick off your shoes and join everybody. There's an auction just for you running right now!! ********* None of the above answers the question and is just a poor excuse to try… Read More
There are a number of websites that offer information about commercial property auctions. One can find information on sites such as 'Commercial Real Estate', 'LoopNet' and 'Savills Auctions'. Read More
== == I guess google would be the best help for you. Try seaching for unrevealed bid auctions, or reverse auction. Silent auctions for which item is the next question i have to ask? Read More