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![]() ROWE CD-100 JUKEBOX. CLEAN, GREAT SOUND. HOLDS 100 CD's US $1,175.00
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Jukebox Great
Best Of My Love - Jukebox Covers (Isaac Simons)
What Makes a Great Penny Auction Site?
Have you seen how many penny auction sites there are these days? There are literally hundreds of them! With so many available which one do you choose? Some of them advertise that they have the best prizes, others advertise that they have the lowest cost per bid, while others advertise their success rate, so which is it? The answer – all of them!
Here are some tips on how to find a great penny auction site:
Pick a site with great products and prizes.
This seems like an easy one but you wouldn't believe how many people get caught up in the excitement of the moment and simply bid on the first site they happen to visit. Also, the more great prizes a site has to offer the more the competition will be scattered. If they only have a couple of good prizes and the rest are just "fillers", all of the competition will be bidding on the couple of good prizes making it increasingly more difficult to win.
Also, the quality of prizes that are available to bid on are a reflection of how much time and money the owner has invested in his or her business. It is easy to slap some half-rate junk on a site – it is much more difficult (and costly) to really take the time to find some great quality items in order to keep their customers happy.
Three sites that have promoted huge prizes recently are:
1. Bidonx (www.bidonx.com): They reign supreme in large prizes and in the frequency of the promotions. You can always find massive auctions at Bidonx and when it comes to value, no other site can come close to this leading auction site. At the time of this article they are promoting a single auction that promises to award two cars and four large Best Buy gift cards. When it comes to big prizes…all hail the king.
2. Quibids (www.quibids.com): About every week or so this popular penny auction site auctions off one big product/prize. Recent items have included Jukeboxes, trips and a car. The competition is fierce due to the popularity of the site but serious penny auction participants will like their product selection.
3. Swoopo (www.swoopo.com): It is no surprise that a sites popularity has a lot to do with their ability to promote and auction large products. Swoopo is also one of the leaders in penny auction sites and as such the will, from time to time, offer special product auctions.
Pick a site that has reasonable prices on their bids.
The way penny auctions make money is by selling their bids. You then use those to bid on the auction items you hope to win. Even though the auction price only increases by one penny with each bid – you are paying a higher price anywhere from $.10 on up. Make sure you do your research on who is offering the best deals. Many offer free bid when you sign up which is a great way to test the functionality of each site. Pick a site that has limited competition.
Obviously, the more competition there is that harder it is for you to win. Pick sites that have limited competition. This can be tough to do because as soon as you find a good website it seems like everyone else finds that same website and then it is completely flooded again. We mentioned Bidonx in this article because of the size and quality of the products they auction off regularly but they also offer a unique value proposition to their members. In many of their auctions, they put a cap on how many people can participate in the auction. This is a great feature because it limits your competition. Like real world live auctions, you have to pre-register for some of these auctions which adds, in our opinion, a degree of transparency and credibility that we have not seen on other sites.
With so many auctions sites out there it can be difficult to know which one to go to. But by taking the things mentioned here into consideration you will be able to find a quality penny auction site that offers great deals on great items. By paying attention to the amount of competition at each site or making your preferred site one like BidOnX.com, your chances of winning will increase tremendously and that is what is called a "win-win" situation.
About the Author
Mike Watson is an expert in the field of Penny Auctions. He has been actively involved in the penny auction community, since the industry got off the ground. He enjoys cycling, reading, movies and spending time with his family.
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