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Penny Auction Software My name is Thomas and have been involved in the workings of on-line and penny auctions for the last couple of years. I liked the idea when I first heard of it and jumped at the chance to be part of something new on the Internet. There are literally dozens of penny auctions sites popping up all over the Internet every day. Every auction site sets its own value for a single bid. These single bids can cost anywhere between 50c to 75c. Bids are generally sold in bid packs of 25,50,100,250 and 500 Why are these auctions becoming so popular. apple iPods are being advertised for $1.00. You open up the homepage the first thing which hits you 95% off retail and you wonder is this too good to be true? This is the question which I will try to answer. In realty it is not $1.00 the iPod sold for. if there were only two bidders on a iPod auction one placed 49 bids and the winner placed 51 bids then the winner would have paid $39.24. This is to say if the cost of each were 0.75c Penny Auction Software Penny auctions are like on-line games and you play with real money. To be successful in any game you have to play strategically. Some avid fans of these type of auctions are giving up on there day jobs to win on auction sites and make a healthy profit day in day out. Though this is not recommended. There a few different strategies which are quite successful. Leaving small bids and on small value items.You hope these auctions go unnoticed. You carry on for a few days you begin to be noticed on the board. These small wins can be traded for bids to build up your bid-bank which will help go for the higher value item. Not giving up on items even if it means paying over the retail price for a few items. This dominate strategy is the most successful as you leave your stamp on the auction board many users will avoid you in any future auctions. Leaving you a fee run. This kind of bidder is called power bidder. It cost to become a power bidder and they do command respect. To win and be successful any new member of an auction site should first observe user bidding habits of users who are already bidding on any auction site. This will increase the chances of winning drastically. As all on-line auctions evolve to has the penny auctions. Many auction site are offering there member a buy it now option. Basically it is a get out clause. If you have been bidding and have gone over your budget the buy it not allow you to purchase the item and you get a

rebate for the bids which you might have invested in any given auction. You can walk away with something rather than losing a lot of money and nothing to show for it. I hope I have given you a basic understanding of Penny auctions. Penny Auction Software, Penny Auction Software

Penny Auction Software