Penny auction sites are a great way to grab a bargain on top brand products. Unlike traditional auction sites such as ebay, penny auction sites are pay-to-bid but the savings you can make are fantastic. Here we lay out the top 5 tips on how to win on penny auction sites.
1. Learn about the site and its users
Take a look around the site and get a feel for the layout, take advantage of FAQ’s and watch how other users bid. You are most likely to win when you know who you are up against.
2. Get the right time and right product
There are often quieter times on penny auction sites such as breakfast time when many people are getting ready for work or the school run. Also at first bid on smaller products such as bid packages and vouchers to get a feel for the bidding process and you have a much greater chance of winning.
3. Get Free Bids
Some penny auction sites give users free bids upon registration and sites like MadBid.com reward users with loyalty schemes such as ‘claim your daily free bid’ where you can claim a free bid daily for up to 15 days when you purchase a bid package.
4. Make sure the site is genuine and secure
Sometimes penny auction sites can seem too good to be true and in some cases they are. Look out for sites that have secure payment systems such as C.O.M.O.D.O Authentic Secure. Also look out for sites that offer a ‘Buy Now’ feature on selected auctions as this reduces risks when bidding and gives you a back up plan.
5. Research the site
Search the site name on Google and look for articles about the company from trusted sources such as national newspaper, tv channels and user forums.
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