| Penny Auctions: The New Way to Bid Online | | | | there is a predetermined range that the bids must |
| Once upon a time people had to go to a store to | | | | fall between and the price is always a fraction of |
| purchase items they needed or wanted. Then one | | | | what the item would cost. Imagine getting a new |
| day the internet came along and offered people a | | | | car for the price of a candy bar. |
| new way to get the things they wanted without | | | | The cool thing about a penny auction, other than |
| leaving home. This was great and people loved | | | | the fact that you could get some really expensive |
| the idea. The next thing you know auction sites | | | | items for mere pocket change, is that it is fun to |
| came along and revolutionized the way people did | | | | do. It is like playing a game, except that you can |
| business online. Shopping by auction not only | | | | walk away with real items that you want or need |
| allowed people to get things they needed or | | | | instead of racking up points on a scoreboard. |
| wanted without leaving home, they also had the | | | | Strategy, skill, timing and sheer luck can all play a |
| chance to get a really good deal on some items | | | | role in placing the lowest unique bid and winning |
| and have fun doing it. | | | | the auction. The lowest unique bid is the lowest |
| Now enter in another chapter in the history of | | | | bid that only one person (hopefully you) placed. It |
| how to get stuff: penny auctions or reverse | | | | is mind boggling to see the prices people have |
| auctions. Reverse auctions or penny auctions are | | | | paid for items like laptop computers, iPods and |
| shaking things up even more because people can | | | | other great items. |
| get the things they need or want, without leaving | | | | Is there a catch? Well, you could call it that. |
| their homes, while having fun and they get | | | | Bidders usually pay a small fee to participate in |
| beyond a good deal! Bidding in a penny auction is | | | | some cases it is done by SMS text messaging |
| unique because the lowest unique bid wins! No | | | | and a low fee will apply to your bill. Even once you |
| more strategy on how to get discounted | | | | add this small price to your bid amount, you are |
| products without paying too much because you | | | | still getting a heck of a good deal and having a |
| will never pay too much. In a reverse auction | | | | great time doing it. |