The Best Penny Auction Sites 2014
What is a Penny Auction?
A penny auction is an auction site where the price goes up by 1 cent at a time. The catch is that you need to buy the bids ahead of time, and the average price of 1 bid is 60 cents.
Are Bidding Fee Auctions Scams?
The penny auction model is not a scam, nor is it gambling. That being said, however, there have been some rogue penny bidding sites that gave the industry a bad name. The bidding fee sites reviewed on this page are all legitimate, and do not use shills or 3rd party bots to scam users.
What is YOUR Favorite Penny Auction Website?
What Is Your Beezid Rating?
Who has the best bonuses?
The penny auction coupons industry is not like the poker industry where it is all about bonuses and freebies. That being said, however, some of the different penny auction sites do indeed offer free bids. Let me tell you right now not to get sucked into a site just because of this. You should only base your auction choice based on the actual good benefits you get from them, aka the deals. For instance, when looking for Quibids promo codes, the most you will probably see is 10 bonus bids on your original bid pack purchase.
What Do The Bids Cost?
Are Penny Auctions Scams?
THere are lots of people who feel cheated when they lose their bids on penny auctions. That being said, these sites are not scams. What they are is strategic entertainment shopping. You should never be aiming for something that you cannot logically afford anyway on one of these sites. Go for things that you already want and utilize the BIN feature if you are not the type of person who can handle losing. It is entirely possible on most penny auction sites that you can lose your bids if you don't know what you are doing.That however, doesn't in and of itself make them a scam.
Are there any good strategies?
There are several different strategies that you can use successfully as a penny auction shopper.
Powerbidder: Only for those with deep pockets, you will be bullying people around and making sure people don't mess with you in future auctions by staking your claim in early ones. Only for those who don't care about losing money, because it's a risky venture. It can also be very profitable.
And if you want to know how to deal with power bidders, read this article for the answer.
Last Minute Jumper: This one should be done in moderation or you might get hunted on the site and have it happen right back to you. This strategy means waiting till the last possible second before joining the party, while your opponents have already wasted many bids. This works best on bid pack auctions where most of your opponents will be close to zero bids.