Penny auction info
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This is Don Klipstein's mirror of Sam Goldwasser's strobe FAQ as of 7/24/2008. It's location is officially http://members.misty.com/don/strbfaq.htm This mirror copy has a base href tag to enable links to other files in the original location. Using links here jumps to the official copy of this file. The latest version of the official copy is at:
How it works: Firstly, players are to pay a certain specified amount to purchase bids. The amount is non-refundable. The auctions are then purchased with the help of these bids. Each time the same process is repeated. For each usage of bid on an auction the cost of the particular item increases by a fixed amount.
So You are here because you are wondering how penny auctions work. They seem too good to be true, are penny auctions a scam ? Penny Auctions are auction style websites that charge you money every time you bid.
A penny auction is an auction where bidders pay per bid to place bids on items, they're competing against other bidders to all win the item at a discount price. The person who is the last bidder when the timer hits 0 is the winner, but the catch is the time increases with each bid placed. In some cases people can get great deals I have tried them, but you don't always win, it's really unpredictable and can really end up becoming addicting and you can lose a lot of money if you are not careful some of these penny auction sites shill bid because they are making so much money from users paying for each bid. There's a great source on the Internet that monitors penny auctions and has a forum, check it out: http://www.pennyauctionwatch.com they will be able to answer any questions, they've really helped me! Source(s): http://www.pennyauctionwatch.com, http://www.pennyauctionforum.com