Penny Auction Primer, PLUS How to Win at a Penny Auction

There are a great deal of online penny auctions available on the Net, and yes, penny auctions are fun, but safeguarding your privacy and protecting your money should always be your first priority. Here is a checklist of what to look for in your search of the best penny auction sites:

Free membership – Some sites are determined to squeeze every dime they can from you. Does the site you’re looking at allow you to join without paying a fee?

Transparency – Is the company honest about their policies? Do they mean what they say? Do they tell you upfront about any charges such as shipping and handling? Are there no hidden charges or fees?

24/7 customer service – Placing bids on penny auctions goes on round-the-clock. If you have any questions about the site or if you need clarification about any of the policies, can you reach company representatives at any time of day?

Buy-it-Now program – At some point, you may decide you’ve placed enough bids on an item to purchase it then and there, are you given the option to purchase the product? Will the bids you’ve spent bidding on the item be credited towards the purchase?

Refund on unused bids – If you decide that online auctions are not your thing, will the company give you a refund on the bids you did not use?

Rewards/perks for members – Does the site offer promos and perks for its members? A good penny auction site has its customers in mind and rewards frequent users with bonus bids, VIP bucks and other promos.

Company info clearly stated – Is the company’s physical address on the site? Some sites offer no information whatsoever on who they are and where they are located.

If you answered yes to all those questions, then congratulations! You’ve found the best penny auction site on the web!