Before you sign up for any pay-per-bid auction or penny auction you need to do some research to decide whether or not the penny auction site you choose is going to offer you the best deal. The actual comparison of sites will take a little time but ultimately it will be fully worth it in the end. The reason this comparison of penny auction sites is necessary is because every one of these sites functions of a model that is similar but deals with different price points and pricing structure for their auctions.
All rules of the penny auction aside, your first concern should be the best deal you can get on buying bids. At the heart of every pay-per-bid auction is the bid. Buyers purchase these bids in a pack with the number of bids in a package varying from site to site. The actual cost of the individuals varies widely depending on where you go. Some sites are as lost as 25 cents; others can be as high as $1.50 perhaps even more.
It is unnecessary to choose a penny auction or pay-per-bid auction site that charges this much per bid. There is no additional benefit or guarantee from paying such a high price as there are numerous penny auction sites that charge far less and offer the same fairness guarantee.
Newly launched auction models even open up the option for individuals to sell items through penny auctions. This is far different from the current norm as of December 2010 where just about every pay-per-bid auction site controls all the items that are being sold. This kind of controlled sale puts the ball and benefit in the hands of the auction site they always win, even when you lose.
That loss is an important point to remember because the amount you spend per bid is also the amount youre going to lose on every bid you place into an auction where you dont come out the winner.
If you plan on working with an auction site that charge a high amount per bid, you need to ask yourself whether or not youll be willing to throw that money away against aggressive bidders.
If youre new to penny auctions and these types of sites, going with a long running pay-per-bid site that charges more per bid is never an ideal choice. Youre paying more per bid, youll be risking more in each auction and youll be up against a lot of other seasoned bidders that are willing to stick it out. For the best choice in finding great deals, aim for the low-cost-bid penny auctions.