I'm certain at this point you've found out of these new auctions online known as penny auctions. This particular auction has been in existence for a number of yrs already and it seems to keep on gaining in recognition. It seems that people either enjoy all of them or these people dislike all of them with quite few in the middle. You'll find out that they draw in controversy because of the unique style of auction.
The thing that brings in the controversy will be the unique style of bidding these kinds of auctions employ. In a regular auction online, the auction time-span is fixed. Everyone knows when the auction expires. In a penny auction, each and every auction includes a timer that counts down from a specific time. Just about all internet sites like to use half a minute. When a person places a bid, the timer starts over to the original time to begin counting down once again. This brings enjoyment among some bidders and resentment among others.
Another thing that makes both of them a part will be the need to purchase bid packs on penny auction websites. On a regular auction you aren't required to pay to play. With penny auctions it'll always cost you something to put a bid. This makes penny auctions similar to gambling. It's crucial to remember this fact.
Whenever you succeed in an auction on a penny auction site, the site itself delivers the product to your house. With regular auctions the items are posted by other sellers who you would then need to pay shipping to and they will deliver the product. With penny auctions, all merchandise is held and owned by the company and shipped out to those who win. This may offer more security to some because the web site may keep itself to a higher standard.
Therefore as you can tell you'll find quite a few specific differences between these two kinds of auctions. It's my opinion that the term penny auctions is a misnomer. You will find minor similarities but in reality penny auctions are a one-of-a-kind style. Yet again, they are more like gambling instead of an auction. For those who keep that fact on your mind when ever engaging with these websites you will see that you become less stressed and may also win more auctions.
The thing that brings in the controversy will be the unique style of bidding these kinds of auctions employ. In a regular auction online, the auction time-span is fixed. Everyone knows when the auction expires. In a penny auction, each and every auction includes a timer that counts down from a specific time. Just about all internet sites like to use half a minute. When a person places a bid, the timer starts over to the original time to begin counting down once again. This brings enjoyment among some bidders and resentment among others.
Another thing that makes both of them a part will be the need to purchase bid packs on penny auction websites. On a regular auction you aren't required to pay to play. With penny auctions it'll always cost you something to put a bid. This makes penny auctions similar to gambling. It's crucial to remember this fact.
Whenever you succeed in an auction on a penny auction site, the site itself delivers the product to your house. With regular auctions the items are posted by other sellers who you would then need to pay shipping to and they will deliver the product. With penny auctions, all merchandise is held and owned by the company and shipped out to those who win. This may offer more security to some because the web site may keep itself to a higher standard.
Therefore as you can tell you'll find quite a few specific differences between these two kinds of auctions. It's my opinion that the term penny auctions is a misnomer. You will find minor similarities but in reality penny auctions are a one-of-a-kind style. Yet again, they are more like gambling instead of an auction. For those who keep that fact on your mind when ever engaging with these websites you will see that you become less stressed and may also win more auctions.
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