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ny auctions are sales on a given item, in which bids are raised one penny at a time, resulting in a resulting low price tag on items. The final bidder before the deadline of the auction wins the item. While many legal and authorized penny auction sites exist, cautious research should be done before deciding to undertake activities in there.
In an auction, each bid is roughly one dollar expended by the bidder, and raises the price of the item up by a penny. Let''s say I want to sell my bike. I list it for $1.00 but I place a rate of one dollar for every bid, bidders want to place on my item. If I can get 1,000 bidders and each bidder makes 10 it is obvious how I could get a handsome price for my old wheels. In the meantime a buyer can buy my bike by his 11 bids or $11.00 but bear in mind the other 999 bidders have all lost their money.
Thus a bidder pays for his bids and for the end price of the auctioned item when successfully winning and buying it.
What makes penny auctions so popular is that the price is at most times a fraction of what it would be on the open market. But fake penny auction sites focusing to leech out bid purchasing money from people are still lurking in cyber world. All penny auction sites are being monitored these days and the owners make a right tight bunch of cash running them.
It is mostly feels like some bit like a gamble in which people rarely win, and on top when losing, facilitate for others to win and the websites to win.
Penny auctioning also includes a timer in between which bidders purchase bids and place them. During the countdown if a bid is placed the timer is reset or more time is thrown in. The last bidder is the winner.
There are still ways to pick up your winning ratio at the possibility of winning an expensive item for a very low cost. The key is to use less bids to do so for one simple reason…bids cost money and you want to keep most of it. Spend the least and try to get the most. Other ways to elude the system (for newbies)
? Save cash on bids,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], by using fewer bids to win.
? Wait till the time is nearly up, fewer bids can be,[link widoczny dla zalogowanych], or will need to be placed.
? Hold on until the end of the auction to bid, decide on a limit before starting, and do not exceed it.
? The chances of winning are greatest when the item is watched carefully.