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What Exactly Are Bidding Websites?

bidding websites

In bidding websites, aka penny auctions, bidders participate in pay-per-bid auctions with the timer resetting during the last few seconds every time a new bid is placed. The winner is the one who makes the last bid when the timer reaches zero. Before entering a penny auction you should read the rules carefully as every site works in a different way. And, of course, you have to pay for the bids you’ve made. For example, if each bid increases the selling price of the item by $0.01 and the final cost is $5.98 that means there were 598 bids placed. If you placed 74 bids and each bid cost $1.00 then you will have to pay $74 in addition to the cost of the item you’ve won, plus shipping.
I’ve had some good experiences with penny auctions, winning some nice items at bargain prices. Some of my best buys include a Kindle Fire for $5, a $50 Paco Rabanne Black XS Perfume for $3.80 and a Mini-Keyboard Bluetooth for $4. Unfortunately, there have also been times when I have overspent on bids, to the point where I spent more on bids than the actual value of the item and others when I spent a lot on bids but won nothing. Bidding sites can be very addictive, so be warned.
Until I looked into it, I did not realize that there so many penny auction sites. Some of these sites are auctioning off popular items such as Taylor Swift concert tickets, vacation packages, DVDs, cars, gift cards, iPads and designer handbags.
Beware of Shills, Bid Bots and Scam Auctions!
Although bidding websites are tempting, you should beware of a few sites that are doing business fraudulently. Some of the scams you should beware of are:
Shills – employees/friends of the bidding site owner act as bidders to attract more bidders to the site. Bid bots – these automated programs make repeated bids on several items or the same item in order to increase the value of the bids being made to offset the cost of the item being auctioned. This allows the penny auction site to make a profit from the item before they release it to a legitimate bidder. Scam auctions – these penny auction sites accept your bids and then don’t ship you the item. Bidding-websites.com was created to help the cautious bargain-seeker find the best penny auction sites.