Penny auction websites have recently grown in popularity and number and like many phenomenon’s for every good site there are 10 bad ones. Below we have listed the three things to watch out for when looking at penny auction sites and choosing a site to bid on.
Get in touch...
• First of all find out if and where the company is registered in the UK. If not steer well clear, look for a company registration number.
• Look for contact details such as phone numbers, e-mail addresses and a postal address. If a site does not have all of these then you could face problems in the near future. Not only does this show that it could be difficult to get hold of anyone but it raises questions as to where they are based.
Be Smart...
• Look for a bidding history on the site... If there isn’t one don’t sign up. A bidding history shows that others are using the site and allows you to figure out your competitors.
• Look for latest winners... Make sure there is a list of recent winners as this indicates that other people are winning auctions and helps give you an idea of what price a product tends to go for.
• Sign-up to a site which offers at least one free bid so that you can try before you buy and find out if penny auctions are for you.
Be Safe...
• As when you are shopping online it is important that you shop safely on penny auction sites.
• Look out for sites that accept payment via multiple methods such as PayPal, Debit Card, Credit Card and uKash.
• Look out for sites with accreditation such as Verified by Visa and MasterCard SecureCode as well as McAfee Security. These logo’s are a sign of safety.
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