Welcome to our website all about uk penny auction websites. Here you will find some infomationon how penny auction websites work and will also find some usful tips and tricks for bidding on them.
For tips and tricks for winning on penny auction websites, then check out some of these links!
Penny Auction Websites: Your Chance to Realize your Dreams
If you have bought all electronic items and other expensive household items spending your hard earned money, you have done what most other people do. But do you know that you can win expensive televisions, stereo systems, smartphones, computers, refrigerators and much more by taking part in a low bid auction. Although you have low chances of winning the auctions you take part in, imagine being the proud owner of an iPhone or a new car for as low as a few pounds only. Yes, this is not magic but the miracle that thousands of people have experienced with the help of penny auction websites.
What is this penny auction?
There are dozens of penny auction UK websites that allow people to take part in the auction and try their luck to grab expensive items at amazingly low prices. What makes penny auction different from conventional auctions is the fact that it is not free bidding auction. In traditional auction, you can bid on a number of items and number of times also but you pay only when you win the auction. Also, anyone can jump in the auction process and outbid you to shatter your dreams. In a sharp contrast, you pay a small fee for making a bid during penny auction and then go on to make bids by paying this small fee every time.
Most winners pay much less that the market price of the item
Many people term penny auction as a type of gambling but it is exciting to take part in such an auction. The price of bids in these auctions remains between 25 cents and $1.5. Thus people do not mind placing bids one after another. In the end, they are pleasantly surprised to find that they have won the item at a fraction of its cost. As penny auction UK takes place live over internet, you have to pay in advance to be able to make bids and the money in your account is taken with every successive bid made by you.
Start taking part by first registering yourself
To be able to take part in a live auction, you need to register yourself with the penny auction website first. This registration usually takes only a few seconds and once you click on the link sent to your email in box, you have got registered and ready to take part in a live penny auction. You may be asked to buy bid credits using your credit card in advance. There is a start price at the beginning of the auction which is ridiculously low. It increases by a penny with each bid made by people taking part in the auction. Each bid also increases the time of the auction by a small amount. The winner pays the basic cost plus the cost of all the bids made for the item. This price is always less than the market price of the item that is auctioned. So what are you waiting for? Try your luck today.
How penny auctions work -