New York, NY (Vocus) November 9, 2010
As the number of internet users continues to climb every year, more people are shopping online at sites such as eBay.com, uBid.com, and Amazon.com. Since the United States is in the middle of one of the worst recessions since the Great Depression, jobless rates in many states are at an all time high, and the increasing rate of inflation, online shoppers are looking to get the best deals and bargains available this holiday season.
To give shoppers the opportunity to get expensive merchandise they would not normally be able to afford, companies have created a new business model known as an online penny auction website. Penny Auction websites are becoming the preferred way to shop and are gaining traction as they offer online visitors a new, fun and exciting way to shop for new merchandise at extremely low prices.
Penny auctions allow participants to get brand new items up to 90% off the suggested retail prices. From iPods and laptops to Amazon gift cards and high-definition televisions, penny auction participants can get these products for pennies on the dollar. There are certain penny auction sites such as OhhILove.com and PennyPurses.com that also sell brand new Coach and Louis Vuitton handbags and Christian Louboutin shoes for up to 95% off the suggested retail prices. Other popular penny auctions that offer a more general product range include Swoopo.com, Swizzie.com, and BigDeal.com.
Penny auctions work differently than traditional auction sites such as eBay.com and uBid.com. Penny auction users pay a small fee each time they want to submit a bid. With every bid placed, the countdown on the timer adds between 15 and 30 seconds. The higher the item’s value, the more time there is on the clock. If bidders continue to place bids, more time is added to the timer and the price of the item increases by one or two cents. As more bids are placed, less people will continue to bid. If a user is the last person to place the bid when the timer hits zero, he or she wins the prize.
However, users must be aware that bidding in online penny auctions does require some skill, patience, and practice. Users should study seasoned bidders strategies to adopt their own set of winning strategies. PennyAuctionBook.com provides tips for any skill level to help bidders increase their chances of winning on those sites.
Established in 2010, PennyAuctionBook.com fills the penny auction niche as it caters to people of all ranges of experience with penny auctions. The site delivers strategies, tips, news, and reviews for everyone from the novice penny auction user to the seasoned bidder. PennyAuctionBook.com is a one-stop resource that provides its readers with all of the information they need to get in on the savings.
PennyAuctionBook.com strives to inform its readers with the latest information regarding penny auctions, including penny auction news, strategies and tips, and reviews. PennyAuctionBook.com does not accept any form of payment for its posts. For more information, visit PennyAuctionBook.com.