Sitting at home, buying merchandise and gifts at 10 cents on the DOLLAR!
New low price for a limited time! Penny Auctions can appear to be more difficult than they actually are. This guide will help explain the process of how a penny auction works as well as give tips and strategies so that you can get the most out of your money. In many ways, penny auctions have replaced eBay in the discount shopping realm. Since more and more people are looking for new ways to buy things at a discounted price, this guide was created to help the novice penny auction participant get started on the right track. This guide will help teach you how to approach a penny auction site and what to do to win using the least amount of bids possible. Taking this approach will also save you the most amount of money possible! Who should buy The Penny Auction Guide? Anyone who is too scared to try out penny auctions or who has jumped in head first without knowing what to do or how to do it! Learn more about penny auctions and get a real understanding of how to use penny auction sites to your advantage. This guide will help you lose less bids and win more amazing products! The guide specifically focuses on the **Quibids site, but the strategies and tips can work on any online penny auction site. How will The Penny Auction Guide help you? The Penny Auction Guide will provide you with carefully tested tips, strategies and tracking forms to make sure you are getting the best price possible from the penny auctions you participate in. We have used the techniques in this guide to win over $3000 worth of cool stuff. The Penny Auction Guide also explains exactly how to protect your bid investment made during an auction so that you can apply any spent bids against the retail price of that auction item. Using this technique with our other carefully applied strategies ensures you won't ever have to come away from a **QuiBids penny auction empty-handed! Curious about the authors know-how? Visit LuckyPennyGuru.com for proof of her auction wins. **This guide is not sponsored by, endorsed by, or affiliated with QuiBids in any way. QuiBids is a registered trademark of QuiBids Holdings LLC
Penny Auction Secrets: An Insider’s Guide by Jeffrey Candle
Winning At Internet Penny Auctions Learn more about the Penny Auction industry.• See what site owners and reviewers are calling, “Entertainment Shopping.”
• Penny auctions are a great way to get incredible deals on items from iPods to automobiles.
• Discover how penny auctions are different than gambling.
• How can sites sell these items so cheaply? Penny auction sites are making a bundle off bidding fees!
• Penny auctions started during the Great Depression. Learn about the history and see how far they have come.
• Not all penny auctions are created equal; study up and find the right site for you.
• The defining strategy of the original penny auctions is now called colluding—and it’s illegal! Find out why.
• Discover what to watch for to avoid getting scammed by shady auction sites.
• If you have a problem with gambling, penny auctions may not be for you. Learn more about the symptoms.
• Join the debate on whether penny auctions should be considered entertainment first and shopping second, or the other way around.
• Find out tips on how to get the jump on your fellow bidders.
• Read reviews of some of the most popular penny auction sites on the internet.
Penny auctions have only been around for a few years, but they have exploded as an industry. With dozens of sites online offering an array of items to bid-on, this new form of shopping has added tension and excitement to what was previously a rather mundane process. In the following pages I will explain for you some of the history behind auctioning and gambling, how this new entertainment-shopping experience works, and who is really winning and losing (you or the site owners). I will pass on 15 strategies for how to increase your chances at winning in a penny auction, caution you against the detriments of taking gambling too far, and explain the practice that gives penny auctions their name (and why the very same practice is illegal in penny auctioning today). Finally, I will review a number of highly ranked penny auction sites where you can play with the confidence that the prices are not being artificially inflated, you are not being scammed, and that you will receive your merchandise after you win.
A Brief History of Auctions
Auctions have been recorded as having occurred as early as 500 BCE. They have been used by auctioneers for centuries to create competition between potential purchasers in hopes of raising the price of items where the true value may be vague or negotiable. However, auctions have not always been used for buying and selling simple products like they are today. In early Babylon women were auctioned off for marriage to the highest bidding man. In the Roman Empire, where warring was practically a way of life, the spoils of war were auctioned off to whomever showed up to compete. Leaders of the empire would place a spear in the ground near land, buildings, temples, and the wears inside these structures and invite individuals to crowd around and begin the bidding. People came in droves hoping to walk away with a good deal on something that may have otherwise been inaccessible to them. Additionally, from early BCE to the colonial days of the United States, auctions have been used to sell slaves to business and land owners looking for a one time investment on free labor.
Penny auctions originated during The Great Depression when farmers were unable to pay the banks for the farms where they lived and worked. The banks would repossess the farms and sell them on auction. Friends and neighbors of the former farm owner would then come in large groups to these auctions and bid only pennies to slow the auction. Because legitimate investors were drown out, eventually one of the friends or neighbors would win the farm at a very low price and then return the farm to its former owner. If the banks would not agree to the price decided on in the auction, the community would physically threaten the bank owners until they reconsidered.
Today “penny auction” means something very different. Penny auctions were founded as a means of capitalizing on the successes of eBay and other similar online auction sites. These modern forms of auctions have joined the ranks of the more humane and well-regulated auctioning that has come to be over the last century. In-person auctions still exist in the form of home foreclosures, bank repossessions, estate auctions, and art and antique auctions. Less common now days are the phone-in and television auctions, though they still exist. Online auctioning has by and large become the most popular way for auctioneers to auction their products and for buyers everywhere to take a chance on getting items at a lower price. Online penny auctions are the newest form of online auctioning and work a little differently than the internet auction sites that came before.
Brinkmanship is a strategy used in politics, foreign policy, labor relations, and military strategy. It pushes potentially dangerous events to the verge of disaster in order to achieve the most advantageous outcome. Penny auctions use a similar technique, encouraging bidders to continuously jump in at the last second, raising the price of the item being auctioned and extending the auction by a few seconds.
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