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Having eBay losing the actual faithand internet auction seeker turning to sites like Bonanzle instead many bargain hunters are finding penny auctions as the second good way to go.There are many genuinely amazing finds to be had with any amount of money auctions for a tiny investment where otherwise can you pick up an iPod for just a few pence but there are also a number of scam sites around as well.How do you inform the scams from the legit sitesBy means of learning how these sites work where the possible pitfalls are and picking up on a couple of rules of thumb.In this site youll not only learn the basic principles of what these cent auctions sites are generally and how they function youll find out how scam sites carry out what they do and learn how to tell the gem stones from the scams.And then well review a few of the better sites in existence and turn you actually loose to grab items gift cards and also cold hard cash with cents on the greenback.
How penny sites work
Merchandise is offered on a penny auction.If the site provides extensive users there could be ten or more auctions going on at once at every hour of the day. 32gb zune hd If the website is just starting up there might be just one auction each time they may be staggered in hour or half-hour intervals or perhaps the site may actually only feature auctions 1 hour per day.Users enthusiastic about these sites have purchased offers which they then utilize to try to outbid each other about the items.Unlike a typical auction site each put money only jumps the value up by a dollar.It also increases the moment left on the items public auction clock allowing various other users to wager again.The last consumer to place a bid on the product wins it commonly for something between a few cents and many bucks.
What kinds of items can I expect
Primarily penny auction sites attribute 50 and 100 gift charge cards for everything from M.C. Penneys Borders Household Depot and Covering to restaurants similar to Olive Garden and Applebees to Visa gift charge cards which can be spent similar to cash.Recently a number of penny auction sites have been auctioning off cash which often absurdly goes for a smaller amount than the actual cash benefit most of the time.The idea here is normally to draw new people to the site and make them coming back.Personal electronics like mp3 player Nanos and Touches are usually big draws and lots of of these sites are already regularly auctioning off Netbooks a smaller more lightweight take on notebook computers and huge wall-mount plasma exhibit TVs.Gaming devices like PlayStation 3s and Gamecubes are common and once shortly a site may any amount of money auction off a car.Various sites tend to follow their own themes and also trends of merchandise one site may specialize in electronics another in home furnishings one more in handbags jewelry and fashion accessories.Section of finding the right penny auction site for you involves considering their selection and seeing if they auction off products you actually would like.
How do penny auctions make their money
To put it briefly theyre banking on having or attaining enough users and keep the whole thing profitable.Maybe you have bought a PlayStation 3 pertaining to 10.54 but the web site has made more than that.Remember for each bid you could have used youve furthermore spent the money you used to buy the prices for bids from the site to begin with.Depending on the sites prices for bids usually cost involving three cents to some dollar a bid.Etc a site where offers cost say 55 cents each the particular 10.54 that the Nintendo wii went up to with penny-bid increments also signifies 527.00 earned by the site as each and every bidder threw inside bids... meaning that this product actually went regarding 537.40.Still this is the more ideal case compared to most sites encounter at least at first since they havent acquired sufficient users to pump the actual bidding up which far.When you see some sort of 50 gift card going for nine cents you know the internet site probably lost their shirt on the deal but that theyre relying on getting enough users soon to make the difference.In the meantime the person who got that 50 gift card with five bids of their own each being fifty cents each has come out of it with quite a bargain.
What exactly do scam penny auctions do
When a web page is just starting out maybe its a penny auction site or some other kind it hasnt yet attracted a lot of users.For a cent auction site this means that their products are bidding regarding very low amounts and a starting penny auction site can lose a lot at first while it can be waiting for new consumers to trickle with.Fraudulent penny auction sites create fake customers to place fake bids on their items to help keep the final bid cost high.Any real user who firelogs in and will buy bids ends up losing their money on them mainly because either theyll never win the item because of the fake bidding taking or theyll get it for an absurdly substantial price as a result.No matter what the scam web site has just defrauded them beyond most of the money they have spent there.By using this kind of fake bidding process either through a program termed as a bot or by having close friends or employees setting friendly bids they can be called shills defrauds people along with makes the site less than worthless in terms of profitable auctions.Although you can come away together with far more money merely suing the pants away from them as online marketers are necessarily an easy task to track down through their own internet registration.
How do i tell a legitimate dollar auction site from a con
Its actually pretty uncomplicated. First you can check to see whether the usernames who are demonstrated bidding are right up all hours of waking time bidding consistently.
Next you can check whether an internet site with an awful lots of supposed users upon it is actually getting adequate real traffic to are the cause of them by looking at their internet targeted visitors statistics either about this handy table as well as by googling regarding site traffic statistics and using a conventional service to find out more about these. If theres large bidding going on but the site doesnt have much traffic coming to the idea you can bet its actually a fake and make to unleash the attorneys.
Finally you can preserve your ear to the ground. Google for the web sites name and another search phrase like scam shill or bot. You are able to blogs like Penny Auction Watch. The typical practice seems to be that if someone calls fraudulence run. But Im a little cautious about of which practice. By that judgement a scam site might post messages claiming fraud on the part of a more impressive more established site along with users would leave it in droves intended for no reason. This isnt sound practice. A more sensible strategy would be that if someone telephone calls fraud assess and evaluate. And of course a much more sane approach would be that if fraud is discovered sue the bejeezus away from them enough to provide anyone even considering starting up a fraudulent site the heebie-jeebies.
If youve been defrauded using a website you may be in a position to come out of it using a ton of cash.Make sure to read What to do if a website rips a person off.
What should I look for in a penny auction
Are there items you would probably actually want -- Before registering using a site make sure they feature products you actually have a use for. There is obviously little part of picking up a 50 Dairy queen gift card for some cents plus delivery if youre a vegetarian. A different site may have that will coffee maker youve been hunting... but what happens once youve nabbed it Does the site have enough things you will want frequently enough making it worth buying prices for bids on it Still another website may feature a variety of movies youd in no way watch and game titles youd never play usually because Dvd disks can be very easy for an internet site owner to come by. Certainly not particularly useful. However as you peruse what on earth is on offer keep in mind that also you can use penny merchants to snag brilliant gifts at perhaps awesomer prices... doing of which Christmas shopping early the whole year round hasnt ever been more fun or less costly.
Does your website have enough auctions - Theres little reason sinking money directly into bids on a internet site that has one public auction a day. Look for sites that have at least one market preferably multiple many auctions on a constant basis. The flip side of this reasoning is the fact that sites with much less auctions tend to be like that because they dont yet have a very lot of users and that can be good for you. Although even the few customers it does have often focus on the one or two online auctions a day it does have and thats bad.
The right amount of users space Sites with several users tend not to have some of auctions and usually do not have much selection regarding their inventory. Contrariwise web sites with more users plus more auctions tend to have bidding coming hot and high enough to drive the prices and the amount of bids necessary to gain. So whats the proper balance Whichever you feel more comfortable with actually. Decide on one and develop a bidding strategy around it. Even a packed site tends to employ a dropoff at around 6am when the most English speaking customers whove been up through the night have gone to cargo area and before those in the daytime possess gotten up and on the internet. Nabbing auctions in away hours can be a excellent strategy.
Avoid sites with automatic consumer bidding - Several sites have begun to present free automatic putting in a bid as a service... but for whomThe idea goes that you simply set your userbot with a minimum and highest price and a most of bids to use up.You point it at a specific public sale and let it go to help town.But that so-called service ends up helping the site owner for the expense of the users.In the scenario in which some users have set their bid-bots at an market the automatic bidding solely succeeds in bouncing the auction selling price and the number of bids used quite a bit since the bid-bots battle their way back and forth.Almost all concerned lose their own bids and the website owner has just made a tidy sum consequently.Even worse sites which in turn do this and present the bid good reputation for a closed auction raise the suspicion in which any supposedly reputable user whos already been bid-botting could be working for the site owner and defrauding another users in the process.In addition to being if that werent bad enough site owners who have installed user-bots on their web site could just as easily have used botting scripts for their own reasons creating completely artificial users to routinely compete against genuine users.Once botting programs are installed there is no way to know how they are being used.Long story short bots of any kind can make even the best associated with penny auction sites search suddenly dicey.
Smart prices on rates for bids - The average selling price for bids over a good site is all around fifty to seventy-five cents.Some sites possess bids going for 3 cents while an uncommon few charge money a bid.If I am just paying more each bid I by natural means expect to see a lot fewer bids winning exactly the same auction or Now im just wasting my time and money.Dollar bids arent necessarily some sort of losing prospect however make sure youre benefiting from good value for your money.Regarding example the site may element awesome products that different sites dont carry.Decide if its worth it and let other users do the exact same.The site will do well or perish according to whether enough end users think its worth the cost.
Penny auction sites examined-
Ive reviewed many of the more widely-used sites for you personally here.There are plenty more listed at Penny Sell Traffic complete with search rankings and web-traffic statistics which are updated daily.
BidFight functions some very impressive merchandise and a very responsive customer service department. Online auctions seem to happen at a rate of one per hour. Offers are a dollar each and every which ordinarily would have been a deal-breaker but they have some really good items up pertaining to bid. Im hesitant of their user-bots which this site calls Fight Assistants. For me that scratches the site in front of them. But that may be what youre looking for.
Wavees an example of what a penny auction site looks like when its all grown up and it has acquired a large sufficient user base. A goodly variety of items all of which ended up selling for ridiculously low prices when last I checked 50 Chevron gift card for 14 cents Rock Band 2 Special for 2 cents a new 50 Barnes Noble gift card - for those who prefer to obtain their literature through the pound at the publishers discernment - going for 3 cents and an Xbox Elite 120GB bundle load up going for 24 cents just in case you wanted to decide into serfdom in Microsofts demesnes. 75 cents every bid an auction just about every half-hour and user-bidbots. Ordinarily bidbots of any kind would make a site the write-off but with the final market closing prices which low if they are wanting to scam theyre certainly doing something extremely very wrong. Worthy of a look in.
Zoozle features a decent selection on great prices. They even sell cash. Auctions usually are constant set in an hour apart. Rates for bids are 67 mere cents with discounts escalating as you purchase large quantities. They provide user-bots which they get in touch with bid-buddies. A fair to poor quality site depending upon what you will be after. As I compose this the last sell sold was a 16GB blue iPod New ipod nano for 16 pennies which is nothing to sneezing at.
DubLi has remarkable items. The shutting down auction prices change even for the same item- a 200 Visa gift certificate sold for 18.40 and then for 49.75 then the third for 183.Twenty five. The closing public sale prices Im seeing at the moment look rather high overall. Quote credits are 50 cents per. Costs of a current public auction arent shown and soon you place a bid at which point the price is reduced by 25 pennies and you have the option of purchasing it for that price. If you dont someone else may place a bid and find it for less. This specific probably explains the reason the final prices are excessive - not enough consumers lowering the prices. A reasonably clever approach to preserving site costs little as it accrues a user starting... but one that keeps prices dissatisfyingly high and also allows other consumers to nab a product after some more money before you happen to be through chipping apart at the price. DubLi incorporates a modest amount of targeted visitors... but I really dont realize why.Theres really no point to reducing the price of something by simply 25 cents using each bid charging eighty cents.Im genuinely beginning to question both about the site and its users.
To sum up
Penny auction sites will offer extremely good bargains should you your research and prepare yourself.Theres a plethora of web sites to choose from with a new one cropping up every day.Select one that everyones learned about and you wont acquire much of a bargain considering the bidding.Choose one that may be just starting up so you risk finding the most recent greatest fraud.Or perhaps... you would have should you hadnt just figured out how to tell respectable sites from hoaxes.Now not only can you spot the difference however you also have the option of getting a scam site in the process calling up an attorney and pulling the plug on it... along with making far more over a penny in the process.
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