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Friday, December 24, 2010

How Penny Auctions Work

Most penny auction sites follow the same three basic steps: purchase bids, bid on items, win products. Below is an outline on how penny auction sites work. Most sites have bells and whistles that include auto bidders, buy it now, beginners auctions and more.

1.) Purchase bids


Cost:
The cost of a bid bundle varies site to site. Most sites do not allow you to see bid packages without signing up first. Below are an example of packages and prices.

Bidrodeo.com:
50 bids - $37.50 ($0.75 a bid)
100 bids - $72.00 ($0.72 a bid)
200 bids - $140.00 ($0.70 a bid)
500 bids - $340.00 ($0.68 a bid)
800 bids - $500.00 ($0.62 a bid)

Quibids.com: $0.60 a bid
75 bids - $45.00
80 bids - $48.00 (starter pack)
300 bids - $180.00
500 bids - $300.00

Bidcactus.com: $0.75 a bid
30 bids - $22.50
50 bids - $37.00
100 bids - $75.00
250 bids - $187.50
500 bids - $375.00

Bidblink.com: $0.40 a bid
30 bids + 20 bonus bids - $19.98
70 bids + 30 bonus bids - $39.98
150 bids + 50 bonus bids - $79.98
420 bids + 80 bonus bids - $199.98
1250 bids + 100 bonus bids - $49.98 ($0.37 a bid)

Swoopo.com: $0.40 a bid
40 bids - $24.00
75 bids - $45.00
80 bids - $50.00
150 bids - $90.00
400 bids - $240.00
1000 bids - $600.00

2.) Bid on items (auctions)

Most penny auction sites divide auctions into beginner, intermediate, and advanced auctions. This helps new customers compete in auctions among their piers. Most sites also guarantee that if you are a new customer you will win at least one auction.

3.) Win Products
Each site sells varying items but you can usually find the following:
-TVs
-Cameras
-Video Games
-Kitchen equipment
-Board Games
-DVDs
-Perfume
-Purses
-Outdoor gear
-Vacuums
-Kids items
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