Penny Auctions Are Cash Cows for Web Owners
Thought you were getting a great deal? Well think again! Today’s Penny Auction Sites are nothing but a Huge Cash Cow for today’s Web Owners.
A lot of people who participate in these auctions don’t realize how much they really are paying for these items. Even though it doesn’t look like you paid much, chances are you did! For example: when you participate in a penny auction you also have to take in account the cost of each time you click the bid button. Which is surprising that most people don’t?
Each time you hit the bid button it can range anywhere from 10cents to 1 dollar depending on the site. So an item that you won at auction retails for $600 and you paid $100 at the end of the auction. When you really look at the cost, you have to take in consideration that not only did you pay the $100 but you need to add in the 10,000 1cent bids. Yes that’s right!! $100 dollars at a penny auction equals 10,000 1 cent bids. So the overall average of profit is $6000! Even if there were 10 people bidding on the same item, you would still exceed the retail price.
As they always say “if it sounds too good to be true than it probably is.” So if you do decide to try out a live penny auction site is aware of how much you really spend and go in with a set amount. Research sites that will give you a buy now option or allow you to use the bids that you wasted on an item you didn’t win on a new item or on more bids.
