And that’s why auctions are so much fun. They allow you so win something for a lot less than their normal price on the market.
But now there’s a new way that you can buy high end consumer goods at very low prices and it turns out that both the prices and the products are real.
Penny auctions is a unique version of the traditional auction – when you bid on an item you actually get charged a small fee of about 29 cents. Collectively, the amount collected for all of the bids on an item allows the company to sell the item at a price far below actual retail and even below the wholesale price they paid the manufacturer for it.
When you place your bid the system adds a little time to the auction to see if any other people want to join the auction. If you have the winning bid when the clock runs out – you win the item for that price.
For the auction winner, the true cost of the item is slightly higher than their winning bid price because they have also spent a little for their bids, but this amount is usually small, and the savings still work out to be spectacular in most cases.
Many Penny Auction sites have something in place to help people who are new to the system. Sites like PriceBenders have special auctions that are only for people who have never won an auction before and also Junior auctions for those who have only won 9 auctions or less. That levels the playing field enough for you to learn the ropes and take on the more experienced bidders.
So, if you want real deals – like a new iPad for under $40, a Samsung Chromebook for less than $30 or a new 42” LED HDTV for under $25 – check out the action at Pricebenders.