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Tag Archives: Online Bidding

Penny auction sites are a great way to save

You have probably heard of the penny auction but you also may be unsure as to what it is really about or how you can benefit from it. Many people will think that they have to bid by a penny but that is not the meaning of the title given. The title stems from the fact that every time a new bid is placed on the site, the price rises by a penny, so you can still save. There is also a countdown timer for the auction and every time a new bid is placed, it resets back to a pre-determined time and starts counting down again. If no new bid comes in on the penny auction, then that person is the winner. However, if a new bid comes in, the price rises by a penny and the countdown resets and starts the process all over again until someone wins. Read More »