Have you seen how many penny auction sites there are these days? There are
literally hundreds of them! With so many available which one do you choose?
Some of them advertise that they have the best prizes, others advertise
that they have the lowest cost per bid, while others advertise their
success rate, so which is it? The answer – all of them!
Here are some tips on how to find a great penny auction site:
Pick a site with great products and prizes.
This seems like an easy one but you wouldn’t believe how many people get
caught up in the excitement of the moment and simply bid on the first site
they happen to visit. Also, the more great prizes a site has to offer the
more the competition will be scattered. If they only have a couple of good
prizes and the rest are just “fillers”, all of the competition will be
bidding on the couple of good prizes making it increasingly more difficult
to win.
Also, the quality of prizes that are available to bid on are a reflection
of how much time and money the owner has invested in his or her business.
It is easy to slap some half-rate junk on a site – it is much more
difficult (and costly) to really take the time to find some great quality
items in order to keep their customers happy.
Three sites that have promoted huge prizes recently are:
1. Bidonx : They reign supreme in large prizes and in the frequency
of the promotions. You can always find massive auctions at Bidonx and when
it comes to value, no other site can come close to this leading auction
site. At the time of this article they are promoting a single auction
that promises to award two cars and four large Best Buy gift cards. When
it comes to big prizes…all hail the king.
2. Quibids : About every week or so this popular penny auction site
auctions off one big product/prize. Recent items have included Jukeboxes,
trips and a car. The competition is fierce due to the popularity of the
site but serious penny auction participants will like their product
selection.
3. Swoopo : It is no surprise that a sites popularity has a lot to
do with their ability to promote and auction large products. Swoopo is
also one of the leaders in penny auction sites and as such the will, from
time to time, offer special product auctions.
Pick a site that has reasonable prices on their bids.
The way penny auctions make money is by selling their bids. You then use
those to bid on the auction items you hope to win. Even though the auction
price only increases by one penny with each bid – you are paying a higher
price anywhere from $.10 on up. Make sure you do your research on who is
offering the best deals. Many offer free bid when you sign up which is a
great way to test the functionality of each site. Pick a site that has
limited competition.
Obviously, the more competition there is that harder it is for you to win.
Pick sites that have limited competition. This can be tough to do because
as soon as you find a good website it seems like everyone else finds that
same website and then it is completely flooded again. We mentioned Bidonx
in this article because of the size and quality of the products they
auction off regularly but they also offer a unique value proposition to
their members. In many of their auctions, they put a cap on how many
people can participate in the auction. This is a great feature because it
limits your competition. Like real world live auctions, you have to
pre-register for some of these auctions which adds, in our opinion, a
degree of transparency and credibility that we have not seen on other
sites.
auction sites
With so many auctions sites out there it can be difficult to know which one
to go to. But by taking the things mentioned here into consideration you
will be able to find a quality penny auction site that offers great deals
on great items. By paying attention to the amount of competition at each
site or making your preferred site one like , your chances of winning will
increase tremendously and that is what is called a “win-win” situation.
