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on a normal auction

 
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PostPosted: Wed 18:06, 04 Sep 2013    Post subject: on a normal auction

,[link widoczny dla zalogowanych]
Want to know more about penny auctions? BidGrid run a kind of penny auction site and make it perfectly clear in 4 simple, they also have a simple video tutorial. Registration is free and they also have free practice auctions where you can win site credits.

If you have been looking for some new ways to save money,[link widoczny dla zalogowanych], then you might have considered using penny auctions. Penny auctions are an incredibly unique format in comparison to what the majority of people are used to. For instance, on a normal auction,[link widoczny dla zalogowanych], bidders increase the price rapidly and items can quickly jump into the hundreds. With penny auctions each time a bidder places a bid,[link widoczny dla zalogowanych], the price of the auction will only increase by a penny. This is a fairly unique concept and the reason why many people are sceptical about it is because they don't truly understand exactly how it all works.
So how do they actually make money,[link widoczny dla zalogowanych]?
Most people are confused about the concept behind penny auction sites. The reality is that the auction websites do not make money by selling items; the sale price is usually irrelevant to them and makes up a small part of their revenue. Instead, they actually make their money by selling what are known as bid credits. For every bid credit that a person buys they are able to bid on an auction. Bidders can choose to bid as little or as much as they want on auctions. They could bid just once on an auction,[link widoczny dla zalogowanych], or they could bid 10 times.
What does it cost for bids?
The bid cost will have been set prior to the auction by the company that is hosting the auction. Generally,[link widoczny dla zalogowanych], the site will have a specific percentage that they choose for each auction. For instance,[link widoczny dla zalogowanych], one site might choose to set the bid cost at 0.25% of the RRP value of the product. Another site might choose to put the bid cost at 1% of the RRP value of the product. The thing you really want to do is find a site that is consistent when it comes to the bid cost. This will make it a lot easier to budget when it comes to buying these items and give you a much better chance of actually winning these auctions.
What items can you expect to see on offer?
Different websites will choose to host auctions for different websites. For instance,[link widoczny dla zalogowanych], one auction website might choose to go for mainly electrical items. So, their item range might consist of things like TV sets, DVD players and even mobile phones. Other sites might include sporting goods or even training courses; the possibilities are endless.
What discounts should be expected,[link widoczny dla zalogowanych]?
The discounts of the RRP purchase price are generally pretty huge. For instance, many penny auctions recently have finished at over 95% discount on the RRP pricing. The problem is that a lot of people don't factor in the fact that they are actually going to have to pay for the bids. The fact of the matter is that the costs for bids can quickly mount up. For those people that don't factor in these costs,[link widoczny dla zalogowanych], they could find that after paying for the costs,[link widoczny dla zalogowanych], they are not actually saving much money at all. It is all about preparation.
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PostPosted: Thu 16:26, 05 Sep 2013    Post subject:

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