Some people believe that operating penny auctions online are a fun way to try to get high value items at discounted prices. But in many ways a penny auction is more like a lottery than a traditional online auction. To place your bid in an auction of a cent, you have to pay. Almost without realizing it, you could end up spending much more than I thought, with no guarantee of receiving anything in return.
How does a penny auction?
What does "win"?
Bidders false: Robots and other impostors
Risks and pitfalls of penny auctions
How does a penny auction?
In a penny auction, the owner of the site offers items for auction and you pay to bid for the item of interest. Unlike what happens in a traditional auction, where you only pay the bidder wins the auction, penny auctions, you must pay before - and as - you bet, whether you win or lose.
For starters, you may have to pay a fee to register the site only and is sometimes a significant amount. Then you have to buy a "package of bets." For example, you can "buy" 100 bets or bids for $ 50. Additional bets cost more money, usually between 50 cents and a dollar per bid.
Usually, the price of items auction starts at zero and with each bet the price of the item goes up for a penny. In addition, each wager adds up time - from 10 seconds to 2 minutes - a clock that discounts the latter backwards. The goal is that when the time runs out you will become the highest bidder bet. But as with every bet the clock restarts its countdown, the auction process can be unpredictable and take some time.
What does "win"?
Winning the auction does not mean winning the item auctioned: It means that you earned the right to purchase the item final price. For example, win an auction for a camera with a final price of $ 50 may seem like a bargain, but if you made 200 bids and each will cost $ 1, in fact the total cost will be $ 250 plus shipping and office and possibly a transaction fee.
If you lost an auction, you have probably lost money. For example, if you made 199 bets on the same camera, I would be losing $ 199. Some penny auction sites have a section on "Buy Now" allows participants to purchase the item and apply the amount of gambling as a discount off the retail price of the product.
So maybe he did not lose investments in gambling, but neither would save even a dollar on the sale price.
Bidders false: Robots and other impostors
Some unscrupulous auction sites use computer programs that automatically generate false bets on behalf of the website. And some scam sites get the same effect using impostors flesh. You may be only a few seconds to win an auction when it appears another user and makes a bet. And the clock is ticking, and stay in first place is forced to enter a bidding war. Although the bidder who bid for the same item appears to be another user, could be an imposter or a robot programmed by the web site to extend the time of the auction and get people to continue bidding on (and spending money) to try to become " winner. "
Risks and pitfalls of penny auctions
Penny auctions can offer good prices, but can also present some problems. For example:
Delays. Need article soon? Can you afford to have it delivered later or not deliver it at all? Many of the complaints about penny auctions are problems with delays in delivery, non-delivery, or delivery of products that are not the same as announced.
Misleading terms. Some terms such as "reclaimed bets" may imply that they are free bets. In a penny auction you pay each and every one of your bets.
Hidden costs. Before enrolling in a penny auction site, read the Terms of Use Sites may charge fees (membership, subscriptions, continuous, or office), different rules apply, or implement a variety of refund policies or other terms and conditions. If the terms and conditions are not visibly posted on the site, make your purchase elsewhere.
Payment Options unsafe. Consider how you will pay. Do you have some recourse to complain if something goes wrong? Do not send cash or use a money transfer service. Instead, consider using a credit card. Thus, if something goes wrong, like if it receives the merchandise or receive something that does not look anything like what you expected, you can dispute the charge with the issuer of your credit card.
Do not take him fishing. If you receive a message that seems to come from an auction website or payment service that asks for your password or financial information, press the delete key. Messages which are at the "fishing" for your information to use to commit fraud.
Rules to check reputation. Avoid doing business with sellers you can not identify. Check the reputation of the penny auction sites by entering the name into a search engine. Read the experiences of others before committing to spend money.
Hello Is there anybody there? Find a phone number and call to confirm that you may contact the seller if you have any questions or you encounter any problem.
You are about spending money. Know exactly what you are betting. Carefully read the product description from the seller, especially the fine print, and save a copy. Also keep copies of all emails you send and receive from the auction site.
If you are a young web entrepreneur and you're starting out in the right choice and management software for developing your site a penny auction, today we will inform you about software that is having great success with those users who run websites dedicated to the Penny Auctions. Here, we'll tell you more about its operation.
Basic system functionality
This interesting software than a penny auction online with user registration, registration confirmation via email, account verification and password reminder service forgotten.
Also, users can bid on any live auction provided they have sufficient balance in your account. The means by which users can purchase credits may vary depending on the customer and the package purchased (there are several options available). But usually the default system brings the possibility of using a PayPal account to receive payments and automatically assign the credits acquired.
More benefits
The system has also the possibility of granting awards (in credits that are used for other future auctions) for those users who register referred by others and make a purchase within the system.
By using this software a penny auction, there is also the possibility of implementing other payment methods manual assignment of credits by the administrator. In this case, the offers may be made by the users / customers to manually or through the "auto bid". The car offers are fully customizable and can select and determine how many credits from investing in the auction (and price ranges between which place) until the date and time of bidding.
All these features are integrated into the system and ready for use once this software you may have a penny auction installed on your computer.
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