Pay-to-Bid Auctions: Should We Use Them?
Online auctions have always proved popular with online shoppers. In recent years, though, we have seen a shift from the traditional format auction, to the penny auctions format. This shift happened primarily in America, but more recently, it has found its way across the Atlantic to living rooms throughout the UK.
Penny auctions combine gambling with the traditional auction. For the player, this has several benefits: it enable them to purchase premium goods at a fantastic rate; it gives players an equal chance of winning the auction, so wealthy people are as equal as poorer people – the complete opposite to the traditional auction; and, finally, it is thrilling and entertaining.
The Penny auction is a pay-to-bud auction. This means people pay for bids, rather than bidding directly on an item. For instance, you may buy 25 bids for £10. These bids can be placed on any item across the entire website, this way you are not tied to a particular item the way you would be in the traditional auction.
There are no guarantees with the pay-to-bid auctions, you cannot be ensured of a win. However, many people employ strategies to help them win a bidding war, these include:
· Playing during off-peak times to reduce competition
· Buying larger bid packages to ensure value for money
· Taking advantage of any promotional offers
· Working out other players’ strategies and trying to counter these
The pay-to-bid
auctions, unlike traditional auctions, only have brand new items on offer.
These normally come in the form of electronic goods, vouchers or perfumes.
Where appropriate, goods will come with the manufacturer’s guarantee.
The pay-to-bid auction can be a fantastic opportunity for finding expensive goods at knockdown prices. The average discount of an auctioned item is 98% of its retail value. For example, it is common to find iPhones selling for as little as £0.15. This may sound ridiculous, but the website makes its money from the cost of the bids packages, rather than the item. From the customers’ point of view, although the website may get their money, they are still in with a chance that is worth taking.
Find out more at http://www.bidvid.com/.
