How To Win Penny Auctions!
What exactly are penny auctions?
A penny auction or entertainment auction allows users to purchase bids in order to participate in the auctioning of an item. It involves a timer that is a critical component of the whole bidding system. As the timer counts down towards zero, it is reset to a certain amount of time whenever a bid is placed. This time is generally 10, 20, or 30 seconds.
The penny auction name depicts the currency amount for each bid; every bid placed raises the sale amount of the item by one penny. If you purchase the bids, they generally cost less - $0.60, $1, etc.
How do penny auctions work?
Step 1:The user purchases bids through the penny auction site.
Step 2:The user chooses an auction to target. At a set time, the clock starts ticking and the bidding begins. (most auctions start at just 1 cent!)
Step 3:The bidding begins and things start to get heated. Users battle back and forth to try and win the auction. Most of the bidding occurs within the last few minutes. On most sites, bids placed in the final minute add time to the clock.
Step 4: When the clock expires, the highest bidder left standing wins the auction and often will save 90% or more off the retail price of the product.
Increase Your Chance of Winning!
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I hope you won and had fun!
To find out how the pros win Penny Auctions Click Here.