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How Penny Auctions Work
Home Business Auctions / Classifieds
By: Zachariah Jay Email Article
Word Count: 493 Digg it | Del.icio.us it | Google it | StumbleUpon it

  

With the revolutionary concept of penny auction websites, we can all now access high-end luxury goods and services at unbelievably low prices.

To participate, first you have to register with the site you wish to bid on by filling in the registration form and then confirming your email address by clicking on the link provided in the email sent to your account. Once this is done you are registered with the penny auction website. Registration on most sites is usually free so as to attract as many users as possible to register. You thereafter charge your account with bids. Bids may be available in different Bid Packages with each bid costing a particular amount. Select the one you want to purchase. Then you can pay for it either via PayPal, credit card or debit card. Once you have your bids, browse through the auctions listed, select the item you wish to bid on and place your bid.

Most penny auctions allow you to win goods for every penny on the dollar. Users buy bids then place them on the items they wish to bid on. The auction ends in the event that no other person places a subsequent bid on the item in question. The limit for raising the bid is a specific amount, which may differ with different types of auctions. Each one penny bid costs a certain amount as indicated, but may vary depending on offers available upon registration or benefits accrued when you refer a friend to the site. Bidding on most penny auction websites is permitted to take place 24 hours a day, 7 days a week.
In some cases, you will be asked to pay fee to purchase "bids" each time. This fee is non-refundable. These "bids" are spent on "auctions." By spending a "bid" on an "auction" will raise the cost of the item by a preset amount. And also it typically extends the time limit of the "auction," thus providing a chance for an opposing player to set another "bid", as a result the "auction" extends again. This is a brinksmanship game: each consecutive "bid" will lower the value of the reward. It will be won by the player who plays last and lower the value of the reward.
Once the "auction" has been won, the relevant person collects the final cost of the item in addition to the monies already collected by selling "bids".

Start bidding today and purchase all the luxury goods at very lower prices. You are available with many online bidding services choose the best and start now.

Bid Museum is one of the best penny auctions source. It is a new penny auction platform which affords to sell normally expensively priced luxury goods at throw away prices.

Bid Museum is one of the best penny auctions source. It is a new penny auction platform which affords to sell normally expensively priced luxury goods at throw away prices.

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