Auction APB

Each day, penny auctions are rising in popularity. They are likely to become even better known as people start seeing the television commercials run by large websites like Quibids or Beezid. Penny auctions are not like traditional auctions, however. It costs money every time you bid, and if you lose the auction, you have lost your money as well. Because of this, do not simply ignore the various Quibids, Beezid, or Grab Swag reviews you see online, but check them out for tips and tricks.

Never hand over your credit or debit card number to a website unless you have already read the reviews of that particular site. Pay close attention to reports of bad customer service, problems with refunds, or damaged or delayed product deliveries. You will come across a wide variety of reports that accuse these sites of shady, unethical behavior, but often these accusations have not been proven. However, frequent reports of customers having bad personal experiences with a particular website or company should probably point you in another direction.

When considering a site, check to make sure it has a Buy It Now feature. If you lose, this feature will allow you to take the cost of your bids and place it toward purchasing that item at full retail price. This is one of the only features on these sites that protects your money, so make sure it is there. Before placing that first bid, decide whether you want that item enough to pay full price. This way, you will not have lost money if you end up not winning the auction.

Sites like Quibids and Grab Swag do not have concrete end times for their auctions, unlike standard auction websites like eBay. Instead, every time a bid is placed, the clock is extended by ten seconds. This means that the auctions can last for extremely long periods of time. If you do not have a strong internet connection then these auctions may not be for you. Many users complain of the smallest blip in their service resulting in an auction loss, which also means loss of money and often a lot of time.

As referenced earlier, it is important to know that placing bids in penny auctions costs money. Frequently these bids will cost you around sixty cents, but they can be higher or lower depending on the site. While most sites do not explain why they charge the price per bid that they do, if the site you are considering charges more than sixty cents per bid, you should try to find out why. What advantages do you get for the extra money you will be paying? If not, then maybe you should consider a site with a cheaper bid price.

The format of penny auctions, where you pay to play, has often been compared to that of gambling sites. This format is a lot riskier than the traditional format, and this appeals to some people but not to others. Either way, before you invest your time and money you should know which auction format works best for you. A little investigation may show you that you just like standard auctions better. Or maybe you are willing to simply wait until items go on a sale at a regular retailer. Remember that you are the person who benefits from having this knowledge before you begin investing in penny auction sites.