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Wednesday, February 2, 2011

How Penny Auctions Work


Playing on penny auctions is a thrilling and enjoyable experience. While on playing in penny auctions you will experience excitement for our products, the thrill of the timer and the rush of a win.  As soon as you enter our site you will see dozens of items that you may wish to bid on. So how do you play on our online auctions?

We would like to simplify the penny auction process into 5 easy steps:
1.) Register
At most online bidding sites, you must first register. Most sites have a simple and quick registration process. You can also get free bids when you register as a new user at penny auction bidding sites. Sites give you anywhere from 1 - 10 bids upon sign-up. At Bid66 you get 10 bids when you register. At Quibids you will get 3 bids when you register. Every site is different.
2.) Purchase Bids
To participate in online penny auctions you will need bids to take part in the auction(s) of your choice. Most sites offer a variety of bid packages at great prices. For penny auction bid pack pricing for multiple sites including BidFire, Quibids, BidPigsBidRivals and more please click here.
3.) Bid on Products
I recommend taking some time looking over the several auctions we have to offer. Often, there might be multiple auctions that you would like to participate in. To bid, all you need to do is click on the bid button. Clicking this button will place one bid on the auction in your name. The bid will also deduct one bid from your bid bank. Some sites have 2 cent auctions, 5 cent auctions and 10 cent auctions. For those auctions, the price will increase by 2, 5, or 10 cents instead of just one penny. After you have placed a bid on a penny auction, you can just sit back and watch the timer. If someone places a bid on the auction after you did, the time will increase. If no one else places a bid and the timer runs out you won the auction! There are several different strategies to win a penny auction. To read my blog post on How to Win on Quibids click here. Also for BidFire winning tips and strategies please click here.
4.) Purchase the Product
Most online bidding sites offer multiple purchasing options. However, in most cases you will see PayPal as a payment option. Some sites charge shipping and some ship for free. Make sure and look into the penny auction site's shipping prices before you begin bidding. Some site also offer a Buy It Now option. With Buy It Now you can apply all or a % of the bids used towards the purchase of the product at full retail price. The % of money you can apply is also dependent on the penny auction site you are on.
5.) Enjoy your winnings
Most likely if you won on the penny auction site you got a great deal. You can take advantage of that great deal by doing video, photo, or written testimonials. Almost all penny auction sites give customers free bids for sending them a testimonial.
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Penny Auction Strategies and Coupons for: Quibids - BidRivals - Bid66 - FooPile - BidsOMax - Fezaz - Pointnbid - BidSell - Ultimate Penny Bid - Scoreluxe - LuckyChic - BeeZid - BidPigs - Penny Auction Coupon