Sunday, 18 October 2009

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Saturday, 17 October 2009

Penny Auction Sites - Are They a Legit?

Online auctions that increment by pennies have been rapidly spreading throughout the web. Winners of these auctions often pay lower than 10% of the retail price. Cheap prices like this will raise the scam flag for most people.

The concept behind a penny auction is to be the last bidder when the timer hits zero. The majority of the user's cost does not go into paying the auction price at the end, but actually goes towards the continuous purchasing of bids. While this process can be a tad intimidating, there are ways for a user to help ensure they do not fall upon a fake penny auction site:

Bid History
If a bid site does not have a "Bidding History" for their auctions, do NOT bid or sign up with them. A bid history is your one way to know that there are other people using the site (showing a good reputation). It also gives you a list of the other bidders' usernames, which can easily be cross-referenced in Google (to see if they are legit users and have signed up on other sites).

Latest Winners
Make sure that the site shows a list of recent auction winners. You want to know that other people are winning auctions before you sign up or cough out money.

Free Bids
Find a bid site that gives you free bids for registering. This gives you an opportunity to try the site out, ensure that it is legit, and maybe even win something!

Support or Contact Area
Does the site have contact information available to you? If not, then move on quickly. This is a sign that the company does not care about customer satisfaction. Find a site that is quick to take suggestions and offer support.

Unique Website
Find a penny auction site that takes the time to make their site unique. If they are using a template that all of the other sites are using, there is a good chance they are just trying to make a quick buck from your misfortune.

Try finding a penny auction that is relatively new, but still has bidders - like this penny auction site. The newer sites tend to have less competition on the auctions - making it easier for you to win (and spend less on bids).

Article Source: http://EzineArticles.com/?expert=Chris_D_Woodard