Auction APB

Each day, penny auctions seem to gain more widespread recognition. Quibids and Beezid, two of the larger penny auction sites, recently started running national ad campaigns, guaranteeing that these sites get more attention in the future. Penny auctions are not like traditional auctions, however. Each bid will cost you money, and losing the auction means losing your money as well. Due to this, having a strategy before you ever head to sites like Quibids, or Beezid is a necessity.

Some sites will require a credit card number to make you a member, however you should not give it to them until you have verified their good reputation. Pay close attention to reports of bad customer service, problems with refunds, or damaged or delayed product deliveries. There are lots of accusations out there about these types of sites using bid scripts to inflate auction prices, but these claims have not been proven. If numerous reviewers have negative reports of dealing directly with the company, however, that is a sign you should probably do business with someone else.

Every bid placed in during a penny auction will cost you money, as mentioned before. The bids are generally less than a dollar, with the most popular cost per bid usually being right around sixty cents. If the penny auction site is charging more than sixty cents for each bid, do a little investigating and try to understand why. Do you receive more benefits for the extra money you will be paying? If you cannot find out how you benefit, then perhaps look at sites that charge cheaper prices.

A Buy It Now feature should definitely be included on the site you are considering using. This feature protects the money you could potentially lose on bids in an auction, by allowing you to place it toward purchasing the item at full price. This feature is one of the only ways you can recoup the money you spent on bids, so make sure it is there. Before you bid, ask yourself if you are comfortable paying full price for that item. This way, you will not have lost money if you end up not winning the auction.

Unlike traditional auction sites like eBay, sites like Quibids and Beezid do not have set end times for their auctions. Instead, every time a bid is placed, the clock is extended by ten seconds. Auctions that can last for unbelievably long periods of time are often the result. Shaky internet connections will not work for auctions of this length. Even the smallest break in service could cause you to lose an auction, along with all your money, as many frustrated customers have noticed.

As paying for the chance to win a prize is usually what takes place in casinos, some people think these sites are more like gambling than regular auctions. Some people really like this auction format, while others hate it. Regardless, you owe it to yourself to do some research and observation before you invest your time and money into it. Some observation may show you that the regular auction format is better for you. Auctions may not even be up your alley at all, instead you may just want to keep shopping like normal. Whatever you realize, it will benefit you greatly to know these things before you invest your money in a penny auction site.