I know it a hard to believe, but I’m not really “selling” anything on this page. Put another way, absolutely NOTHING is for sale on this page. All I’m doing here is helping you claim 25 free bids from a well run penny auction. Don’t get me wrong, I hope you enjoy the site and purchase more bids, but you’re under no obligation to do so.
Because this penny auction relatively new, there isn’t as much competition, but the deals people are receiving on in demand items are AMAZING!! I’ll show you some of the deals in just a moment. First, I want to make sure you understand how a Penny Auctions works and how people are walking away with incredible products for up to 90% off of retail.
Penny Auctions have been in business for many years, but many people are still not aware of their existence or have any idea how they actually work. This lack of understanding probably keeps many people from even checking them out. Maybe you’re one of those people. Hopefully we can educate you enough on how they work that you’ll take the free bids from this penny auction and check it out.
Here’s How They Work:
If you’ve ever been to an auction like Ebay, you know that you’re bidding against other bidders as the clock winds down to 0:00. When the clock finally hits 0:00, the highest bidder is the winner.
Penny auctions have a time element as well but the process is totally different.
For purposes of illustration, lets say you arrive at a penny Auction and see a smart phone that retails for $600.00 and you decide you want to take a shot at winning it.
Some penny auctions start with the clock around 2 hours and wind down from there. Some individuals will immediately bid, while others will wait for the clock to wind down to close to 0:00. When the clock hits the designated time, around 20 seconds for example (this varies with each auction) then the real action starts. If the clock goes to 0:00 before someone else bids, the highest bidder will win when the auction. (That’s really rare). However, if someone bids before the time on the clock hits 0:00, the clock then resets to 20 seconds and counts down until another person places a bid, which then restarts the clock again at 20 seconds.
Here’s an important point: every time someone hits their “Bid” button, the bid only increases by one penny. This is important and worth repeating: each time somebody bids, the bid is only raised by one penny. So if you have a $600.00 smart phone, the bidding starts and $0.00 and climbs up by one penny with each bid.
The auction ends once the 20 second clock expires and no one else bids. The highest bidder is then declared the winner. More often than not, the winner walks away with an extraordinary deal.
Using the smart phone example, we’ll say that the winning bid was $50.00. The exact cost to the winner would be $50.00 plus shipping as well as the cost of however many bids they utilized to win. So let’s the winner used 50 bids to win (at .50 cents per bid), then entire cost of the smart phone to the winner in this particular example will be $75.00 ($50.00 winning bid plus $25.00 worth of bids) plus shipping. If it costs $15.00 for shipping the winner would have received a brand new $600.00 smart phone for a total cost of $90.00!
To participate in a penny auction, you must have a good supply of “Bids”. Bids are penny auction currency, and must be bought (although there are ways to get free bids) at the Penny Auction site where you are bidding. The price for bids varies from auction to auction, but to make the math easy in our example let’s say we purchased them for .50 cents each.
So if you decide to go after a very in demand item, you would need to purchase more than enough bids to make sure you can stay in the game. There are numerous strategies that penny auction bidders use to win. We won’t go over those today. However, one real good rule of thumb is to bid on items after that you would pay retail for anyway, and have enough bids to make it happen.
The good news is that many auctions have a “Buy Now” feature, and they will credit the bids you spend toward the purchase of the item at retail.
For example, if you went after the smart phone in our example, spent 50 bids and didn’t get it, you could still purchase it for the retail price minus the 50 bids you spent. If you had the mind set that you were willing to pay retail for the smart phone anyway, then you still buy the smart phone for what you were willing to pay and probably had some fun doing it.
Great question, and believe it or not, a well run penny auction does extremely well.
Using the smart phone example above, we assumed that each bid costs .50 cents. That means that every time someone bids (raising the bid by 1 cent), they spent .50 cents. In our smart phone example, the winning bid was $50.00. Doing the math, we know that there are 5000 pennies (and each penny represents a bid) in $50.00. If each bid spent cost .50 cents, the auction company took in $2500.00 for an item that retails for $600.00. Of course, they probably didn’t pay retail for the smart phone. And don’t forget, in addition to the $2500.00 they took in, they collected $50.00 from the winner. Therefore, the company won with a large profit, and the winning bidder walked away with a huge discount on a very nice product.
If you would like to try a penny auction with no risk or obligation (not even a credit card), then just click on the link below and it will take you directly to the sign up page. I would also like to point out here that this Auction is world wide, and is online in most countries! It will take about 2 minutes to complete the form and log into the site, where you will find the 25 bids waiting for you. This penny auction is always auctioning off great items. Whether you’re a seasoned penny auction bidder, or new to penny auctions, this auction is a great place to visit with no risk or obligation. It’s just that simple. So what are you waiting for? Sign up now and claim your 25 free bids!
Just in case you were wondering about the spectacular deals people are picking up, here’s a screen shot from September 22nd showing 4 recently closed auctions and what the winner actually paid, as well as the amount of bids they used and retail price. These amazing deals may not be typical, but they did happen. If you’re like me, you’ll be upset you weren’t in on these auctions. The good news is you have absolutely nothing to lose by signing up and using your 25 free bids!!