Penny Auction Newbies

Anybody with a computer and the internet has probably come across a penny auction ad promising unbelievable deals. Can you really get a laptop for $4.00 or a iPhone for $0.99? Sure you can – but you can also spend hundreds of dollars and end up with nothing. To some, penny auctions wind up being no more than a gimmick similar to gambling, but to those who know how to play the game they have turned into a source of income and become pros at what they do. Competing against these pros can be very frustrating and expensive – some sites TRY to protect the newcomers and even offer “cherry” (newbie) auctions where only those who have never won an item before can bid, but they are typically pretty small auctions and consist of bid packs or weather thermometers. When you get into the big boy toys you are going to be competing with the professionals and no matter how the site tries to protect you with things like “limits on the amount one person can win” or “one profile per household” we all know there are ways around it.  However, there is the chance that their computers are lagging causing them to miss the all-important “going, going, gone” notification or maybe their spouse walked in at just the right moment diverting their attention, so the possibility is there… but just like hitting the jackpot or winning the lottery, these professionals turn penny auctions into a simple game of luck for beginners who don’t know how the game is played. Best advice? Plan on losing what you spend,  steady penny auction strategies and really educate yourself on how penny auctions work.