What Are Penny Auctions
A Penny Auction is an auction where you bid on items one penny at a time. The catch is that you have to purchase bids before you can bid these pennies. Bids cost anywhere from $0.40 to $1.00 and are sold in packs. Normally these packs give discounts to users who purchase a larger number of bids at one time. Its best to start small at first and purchase smaller packs and work your way up once you are comfortable.
Once you have your bids you can start bidding on items at auction. Before you start there are a few rules you should know about. Each bid placed on an item will push back the end of the auction by a few seconds allowing for more bidders. You also are actually bidding so at the end of the auction you will still have to pay the ending price on top of the costs of the bids. So it’s best to keep this in mind when bidding on items.
If you are just getting started on Penny Auctions sites here are a few of our recommended sites. These sites are known safe and are great places to start and have active communities around them.
First up is SwipeBids this is a huge Penny Auction site and has auctions all day long. They always have special promotions and contests for their users. Its a great place to start and win some great prizes. You can visit them at http://www.swipebids.com.
You should also check out Beezid they are a great place to start since they have a good number of beginner / first time auctions. You are sure to get your first taste of victory here. They also offer a sign up bonus of 10 free bids to get you started. You can visit them at http://www.beezid.com.
Last but not least is BidCactus, one of the best things about BidCactus is they have mostly lower priced items like gift cards. This is good for beginners because it keeps many of the pros away since they are all trying for TVs and Computers. This is good news for you, so sign up and see what prizes you can win. You can visit them at http://www.bidcactus.com.
