It all comes down to using the right websites and strategies if you want to win brand new Macbook's or iPad's in penny auctions...
(PRWEB) December 17, 2010
Every year holiday shoppers face the same problem. They get stuck trying to buy gifts for their loved ones right before Christmas. And that means they have to face a barrage of people in shopping malls just to spend all their money on extremely expensive products. This year could be different though... Millions of people have found a way to shop from the comfort of their homes, and the best part is that they've been buying the latest high tech electronics at ridiculously low prices. In fact, many people have posted comments online about buying new iPhone 4's for less than $50 and iPad's for less than $75! Keep reading to find out the secret...
News reports have been popping up on the internet about a new type of auction called penny auctions. They work completely different from your regular auction sites like eBay, and they let people win brand new products (pretty much anything you can buy on Amazon), at flea market prices.
Here's how they work. In order to participate in a penny auction a group of bids called a "bid pack" must be purchased. All the prices for products start at $0.01. And every time someone places a bid on a product the price is increased by $0.01 and the timer that's counting down gets 10 seconds added to it. The last person to place a bid before the timer says the auction has ended, wins the product!
One father of three named John Balbeck says that he's ended up using penny auctions to make a full time living.
"I started off just winning a couple of products, but after finding the right penny auction sites and by using the right strategies I've been able to consistently win products like flatscreen televisions for about 10% of their retail value. And then I sell them on typical auction sites like eBay at a 50-70 percent markup!"
The key to winning the best products has to do with using the right penny auction sites and using strategies like last second bidding. In a way, penny auctions are a lot like poker, reading your opponent and knowing when to fold your hand and stop bidding is integral to consistently winning products at low prices. Of course, there's also some luck involved too.
Since 2009, thousands of penny auction sites have started up on the internet and choosing the right one to use can be difficult. Many of these sites have consumer complaints filed against them, so it's important to research which penny auction sites to use before signing up. Nevertheless, there are a few goldmine penny auction sites where products that retail for over $1000 can be won for less than $80. It's all about finding the right penny auction sites to use and having a good strategy.
With the July 2010 launch of a penny auction review site, there's more transparency in terms of which penny auction sites to use and which ones to stay away from. Penny Auctions Canada incorporates customer reviews and ratings for penny auction sites located throughout the world. They also provide users with tips and strategies to implement when starting off with penny auctions.
Click the link below to visit their website.