Should you participate in online deal sites to find great deals?
Online bidding sites are becoming popular. I think the reason for this is that more and more people are hearing about the advantages of penny auctions. In fact, the largest online site pulls in around $25 million a month in revenue.
People from all over the world visit penny auctions, and many participate in the hope of getting great deals on products or services.
People are receptive to finding deals on online deal sites because they can find deals that are 99% off retail prices.
Bargain websites are able to offer these deep discounts because the products being offered begin the bidding process with a price of just one penny.
A penny is confusing to many because a penny is actually representative of spending between $.50 and $1.00 per offer. An example of this would be me bidding on a TV where the final bid would show that the winner won the TV for just $5.00. The actual number should show that the television was awarded to the winner for $50.00 based on television offers that cost one dollar for every penny spent.
Each penny bid represents a dollar spent. For some sites, you are lucky enough to only have to spend $.50 per offer. This represents a great bargain.
Spending $.50 on bids {giving this example} will allow the winning bidder to get this TV for just $25.00, plus tax and shipping.
The bidding process with penny auction sites is similar to eBay, but with bidding websites you must use bidding. Offers are much like tokens. However, offers are intangible products.
There have been criticisms of penny auctions. The main complaint is that there are multiple bidders for the item being bid on, but there can only be one winner per item sold. The problem is magnified because various people are spending between fifty cents and a dollar per offer in the hope that low price
The remedy to this problem is easily understood with this explanation.
You can still get a great bargain shopping on penny auction sites even after the auction is over. Prices are generally only good for a limited period of time; therefore, you need to hurry to buy the item you want.
In general, the customer who participates in penny auction websites will probably bid on the products that they really want. This means that it was worth using the online deals site because you can find the product you want at a good price. And if you win the bid, chances are you got a great price. In addition to these benefits, I have found the online bidding process to be very exciting.
I recently made an offer on a 65-inch TV and my heart was racing. The bidding process gets the adrenaline flowing. It’s fun to do.