With the web being so infinitely gigantic and endlessly expanding there are new things popping up everywhere and all the time. One of these new things to explore is called a "Penny Auction." And with all new things, more often than not, they're a bit hard to understand. New concepts take a moment to sink in before they're fully understood. Most likely you've read some other articles about Penny Auctions before this one, but know you probably were bombarded with misinformation and negative stereotypes, all coming from people who think they know what they are. I'm here to set the record straight and give you the real deal on Penny Auctions and let you know what to look for.
It's true some places are real scams. But it's also true that there are legitimate websites out there. The trick is in spotting the differences, the traits that make a real site shine and make those filthy scammers show their true colors. I'm going to discuss a few examples of things you should definitely keep an eye on and will keep you from some unwanted problems.
Always look for websites that display testimonials from past winners. This creates a sense of history that shows that people are actually winning items from these sites. Some places will have pictures and some words from the winner. Others will have videos with the testimonial coming straight from the person in the vid. The more the site has something like this, the more likely it will be legit. You know you can always contact someone on YouTube if they posted their video testimonial there. Try talking to some of these winners and they'll help you get a better picture.
Don't forget to check out some statistics. You can use tools online that will help you find out the traffic ranking and how they stack up to websites around the rest of the world. The more traffic it gets, the more likely it is legit. Think about it, more traffic more people, more referrals from happy people, more people coming back. I think that is a good sign, especially if you take into consideration how long a site has been running. For example, a site that has lasted for several years is far more reliable than a start up that is less than 6 months old. What's stopping this start up from not sending people their prizes and taking the money and running? It's best to find a site that's at least 2 to 3 years old. The first Penny Auction sites first appeared in 2009, just to give you some perspective.
Some sites use bots to automatically make bids and jack up auction prices. Sites that have little traffic usually resort to this. Bigger sites with higher levels of user interaction won't have to utilize a tactic like this. What this does is artificially makes the final price higher and also causes the user to spend more bids, which means spending more money as the user had paid for their bids. The good sites try to combat this and try to place a cap on how high an auction can go, and since these things rely on countdown timers, they could go on forever. A good site has a healthy set of live and finished auctions that show that they aren't just on an infinite loop with the price skyrocketing!
I hope this little guide has helped you. It also doesn't hurt to do some searching of your own. Go out there, read up a little more and maybe try your hand at one of these auction things and get a feel for it. Once you know how to wade through all the garbage, you'll be able to find the right sites. Good luck!
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