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Penny Auctions seem to be the new craze as of late. There are hundreds of companies springing up lately offering the latest and greatest products on the market up to 90-95% off of retail items. Penny auctions are basically online auctions where you place bids on different items with the price rising 1 cent at a time. The company I'm focusing on here is Zeekler. That being said, how does the company make money off of these penny auctions? Some of the items are name brand electronics, jewelry, sporting goods, various house wares, and etc. As an example, I'm going to talk about a recent auction ending with a $1500 television set that was auctioned off for $150. In this case, the company purchases a $1500 television set and places it in an online auction. The price starts at $0.00 and there is a timer counting down. In this particular case, the television actually sold for $150.57. Zeekler Penny Auctions actually made $15057.00 off that particular television. The person bought the television for $150.57. What's the missing piece? The missing piece is that Zeekler sells bids from anywhere from $.65 to $1 a bid. You can also get up to 500 free bids from a Zeekler affiliate. The person who won the television may not have actually purchased any bids or purchased only a minimal amount. People from all over are all placing bids on different items. People are, in essence, competing for the items listed. The functionality of the penny auctions is based on competitive shopping. People purchase bids or get free bids from an affiliate to participate in the auctions. As bids are placed, people can potentially win name brand items up to 98% off retail price. The company makes money. The affiliates make money by purchasing bids and sampling them out to people who want to try their hand at the auctions. The people also win by getting great products at low prices. Putting all these factors together creates a win-win situation for all involved. That is how Zeekler has been in the penny auction business for 15 years and has sustained its' performance. There have been a couple of companies come and gone because they could not sustain the high end items and then turning around and selling them for different percentages off the retail price. Zeekler has a three legged stool in place to sustain the auctions with high end items, to be able to purchase the bids, and to be able to sell the items consistently up to 95% off.


To find out more about Zeekler's penny auctions, the Zeek Rewards affiliate program, or to get some free bids to play go to http://zeek-rewards-biz.blogspot.com/

Article Source: http://EzineArticles.com/?expert=Robert_David_Fraser

==== ==== Zeekler.com Try it for free! Get $20 worth of bids/mo only at Zeekler Penny Auction https://www.zeekler.com/securesignup.asp?username=pattypet ==== ====


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