review is it a Scam

Penny auctions are big business and the list of penny auction websites continues to grow daily, in my personally opinion its a much better idea to become the owner of a penny auction website instead of being member that’s one of the main reasons i’m not a fan of the penny auction business. When signing up for or any penny auction website for that matter its a good idea to see how much it costs to place a bid. Placing bids and shipping and handling charges are just a couple of the ways these penny auctions make their money. Costs and Strategies

It costs .60 cents to place a bid at not a penny so when or if you purchase a bid pack be careful on how you bid and when you bid. If you’re going to sign up i wouldn’t get too excited at first what i would do is pay attention to how many people are bidding on your item and watch it until there are only few people bidding maybe two and then make your move of course you have to watch the timer but by allowing everyone else to bid first you save money.

Remember unlike eBay it costs you REAL money to place bid(.60 cents per bid), so why bid early wait be patient let everyone else bid first then when things start to calm down make your move. Another thing, don’t just make your move you should also keep a bidooka final price number in your head that you are willing to spend. Personally i like to compare penny auction websites to a  mixture of casino’s and chucky e cheese. That being said the idea behind gambling is to have fun. Of course we know many people become addicts but the idea is suppose to be to have fun

I say this mainly because in a penny auction website there will be more losers than winners, and unlike the losers not only lose their time but they can also lose their money. I’ve participated in bid wars at eBay before and lost it was a real rush but when i lost i only lost the time i invested. Only the winner had to pay for the price of the item as the loser in that instance i didn’t pay anything. That being said eBay is not perfect either but at least i didn’t get charged to place a bid.

My final thoughts on

Personally in my opinion if you are going to sign up for i recommend paying using Paypal just in case any payment issues arise you can contact paypal i hear stories about allot of penny auction websites and most of the stories consist of payment related issues. Paypal gives the consumer a voice that’s why i recommend them. Although I don’t think is a scam i don’t recommend joining them or any other penny auction website.

The prices shown are illusions even though the price of the item goes up by 1 cent the consumers are actually paying 60 cents to bid i’m sure you can do the math, If you want to try your luck go ahead just don’t say i didn’t warn you

Please leave your comments or your experience with below your comments help others in their decision making process.