auction bargain
Online Auctions are great. Not only do you have a chance to win an item at a great price, but they’re fun and exciting. Online auctions have revolutionized the way that auctions are conducted in the U.S.A Whether it’s property auctions, government auctions, or police auctions, Internet auctions have become one of the largest most successful ways to auction items.
There are a wide variety of online auction sites. Largely unknown in the U.S.A are Penny Auctions, where the bid price increases only in increments of a penny at a time. Unlike traditional online auctions where a bidder can decide to bid as much or as little as they want for an item, in a penny auction you can only bid one penny higher than the previous bidder. So for example, a new big screen t.v. will start at a bid price of $0.00. When someone places a bid, they can only increase the price of the item by $0.01 cents. So the winning bid for the t.v is now 1 penny. Now someone else decides to place a bid, so the winning bid goes up to 2 cents, and so on.
Like all auctions, weather they’re online auctions or traditional live auctions, the bidding is over when the time expires on the item. However, with penny auctions because the bidding increment is so small, many penny auctions will have an expiration time that is shorter than the typical online auction, like 5, 10, or 30 minutes. In most cases, every time a new bid is placed on an item, the timer resets to it’s original expiration time. So using our example above with the big screen t.v. if the timer is originally set for 10 minutes, the clock starts counting down. When someone places a bid, the clock resets to 10 minutes, and begins counting down again. If someone else places a bid, then the clock resets, and begins counting down again. However if no one places another bid, and the time expires, someone just won a T.V for a GREAT BARGAIN!!
So what’s the catch? How can anybody really win a t.v. or an ipod, or any thing for that matter for pennies in an online auction? Well, you have to change the way you look at bidding. In traditional Internet auction sites, you can decide what you are willing to bid for an item in advance. If someone else bids higher than you, you don’t win the item and it didn’t cost you anything. With penny auctions however, because the bid increment only goes up by a penny, you have to pay in advance for your bids. In other words, you buy your bids first, and only when you decide to use a bid, will the bid price go up. What does this mean? Well, going back to our example from above with the television, if you wanted the opportunity to win that t.v. for pennies, you would have to first spend money on buying your bids. Then you would have to watch the clock, watch what others are doing, and decide on the most opportune moment to use those bids in order to win the t.v. This makes bidding on a penny auction site very interactive, and EXCITING!!!
So how much are bids? There are several different online auction sites u.s.a with different bid prices. The least expensive of them all is 5050auctions.com
where you can buy enough bids to reduce your price point to $0.50 cents a bid. Fifty cents a bid you’re asking yourself? That sounds like a scam… if I have to pay 50 cents per bid and I used 100 bids to win that t.v. then it didn’t cost me pennies after all, it cost me 50 dollars. So…you just won a big screen t.v. for 50 bucks….hmmmm….wait a minute…big screen t.v. for 50 bucks…maybe it’s not such a scam after all….Lets go bigger. Lets say you used 500 bids to win that t.v. that’s a brand new, Brand Name, Big Screen Television for $500. Where else are you going to get that kind of deal?!?
But that’s not all. 5050auctions.com does several things differently than most other online auction sites. They actually give the winning bidder 50% of their bids back. So using our previous example, if you used 500 bids to win the t.v. and each bid cost you 50 cents, and after you win you get half your bids back, you only spent $250 to win that t.v. NOW THAT’S A BARGAIN!!
With other penny auction sites, the bid price continues to go up until somebody wins the item. So if you are bidding on a game system the bid price can often go as high as $100 or more, one penny at a time. For the consumer this means that not only did they have to purchase their bids, they now have to pay the winning bid price of $100 or more. It gets to a point where what seemed like a great bargain to begin with, is no longer such a bargain. But not at 5050auctions. At 5050auctions, the most exciting online auction site the bid price never goes higher than $0.50 cents. So a winning bidder will never pay more than 50 cents for an item at www.5050auctions.com
