What Are Penny Auctions?

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What are penny auctions and how are they legit? People see these ads all the time about getting expensive items dirt cheap, have you ever wondered how it is possible? How do you know the whole thing isn't a scam?

Check out this page for great tips and tricks to winning at the penny auction websites!
http://www.squidoo.com/the-penny-auction-strategy

Well watch this video to learn all about penny auctions and how they made it possible to buy stuff cheap! While you're at it, you'll also see how you can get the ultimate edge to win at penny auctions!

If you really want to win at penny auctions, use this awesome app to win at quibids! Like it's said in the video, the BidProApp may have a waiting list in order to limit the amount of people using it, this increases it's effectiveness.
Go here to get on the waiting list...
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So what are penny auctions? Find out for yourself here in this video!

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[freedom29907]

He kept saying the seller made $17,000 (17 thousand) when he meant to say $1,700 (17 hundred). Other than causing some confusion... great presentation.

[TheMoneyEngine]

@freedom29907

Wow, yeah thanks for pointing that out! I'll leave a note in the video, lol.

[SwimistaFashions]

no one wins at a penny auction (just the auction itself) what i do is buy quality jewelry from isaybid for usually under 20 bucks and resell it on craigslist for a 500% mark up! Easy money and quality jewelry stay away from penny auctions and grab some nice quality jewelry for real pennies on the dollar!

[TheMoneyEngine]

@SwimistaFashions I've win at penny auction sites all the time, it just depends on which site you go to. Most of these sites are scams though, it's really easy to use bots to run up bids. Finding real and trusted sites is vital to penny auction success.

I have tried the jewelry method you speak of as well, but it's hard to sell jewelry to people because people really only trust proven jewelers. It is a good method though, I got awesome jewelry for ridiculously cheap at bidz.com

[wortnot1]

They're geniuses. The I pad sold for $28.37. So thats about 2800 bids which are 60 cents each right? So that means that the site made the 28.37 + about $1700 from the bids spent. Is that how it is? That's the smartest thing i've ever heard I wish I invented penny auction site.!

[TheMoneyEngine]

@junesparkswkr

I win all the time on Quibids! The iPad I use I actually won for like $17 and used about $50 worth of bids, so with shipping and everything together it was right under $80 for something that retails for $500! Sometimes things don't go my way and I rush into auctions (slight add problem, lol) but thank God for the buy it now feature!

I know this all seems hard to believe and people might call it a scam, but when you win your first pair of Oakley's for 1 cent you'll be a believer!

[ionegotschalknme]

I wonder how much these sites make in one day. That's crazy. Earning out of someone elses expense? Pretty much gambling.

[yukibrunellinceq]

Wow! They earn $1200 from just selling one iPad?

[vinacebonjv]

I should probably start my own penny auction site.