Sign up for an account and buy bids
First you have to sign up with a penny auction site in order to start bidding. Signing up is free for most penny auction sites and only takes a few minutes. You’ll receive a confirmation email when you’re done. Just follow the link in the email to confirm your account.
Bids cost less than 1 dollar and can also be bought in packs. The packs range from 5, 10, 20 50, 100, 200 and 300 bids usually. It’s advisable to have enough bids before getting into an auction because running out of bids in an auction can be costly and painful.
Find an auction
Penny auction sites have incredible deals from the latest electronics and home appliances to gift cards, bid packs and leisure items. You can choose the items you want to bid on but note that the big ticket items tend to draw more bidders than the cheaper items.
Click the ‘Bid Now’ button to place a bid. Every time you place a bid, one bid will be deducted from your account and time will be added to the auction clock. This allows other members a chance to bid on the item because that is how penny auctions work.
You do not have to stay at your computer the whole time. Penny auction sites include an automatic bidding system that lets you place bids automatically while you’re away. So if you need to leave your computer in the middle of an auction, you can use the auto bidding system to bid for you.
Winning an auction
If your name is displayed as the highest bidder when the auction time runs out then you win the auction. You get to buy the item at it’s current price.
But if you don’t win the auction, most penny auction sites have have the ‘Buy Now’ option that allows you to buy the same item immediately without bidding. And with auction sites like Pricebenders, you still win even if you loose the auction. You get 5 member reward points for every bid placed which can be redeemed for other popular products at the Tripleclicks store. If you want to get started with penny auctions then click here to sign up with Pricebenders.