I was asking my friend about how he was able to get all these brand new items for his house, like a new flatscreen Sony T.V., a new iPad and a brand new iPhone 4G. He told me that he recently discovered something called Penny Auctions, and that he ended up only having to pay a fraction of the real price for all these items. I wasn’t too sure about what penny auctions actually were and I was a little bit skeptical about everything he was saying, so I did some research of my own…
This is what I found out. In order to participate in a penny auction, you have to purchase something called a “bid pack”. You can usually buy anywhere between 100-500 bids, and they range in price from $150-$250 for the packs. According to my friend, it’s definitely better if you purchase at least 250 bids, because not only will you get them at a cheaper price but you have more chance of winning the actual auctions.
I looked online at the different penny auctions sites, and some of them had bad reviews. My friend told me to checkout a site called BidSauce because it’s what he used, and it has a great reputation with the Better Business Bureau. I signed up for BidSauce and purchased their pack of 250 bids at $150. My friend told me to use the coupon code: BONUSBIDS for an extra 50 free bids, so altogether I had a total of 300 bids in my account.
I was dead set on getting a brand new iPhone 4 for myself and a new MacBook Pro, so I started looking at the different auctions they had going online. It didn’t take long before I found an iPhone 4G auction going on, and the timer was counting down. Basically, every time you place one bid, the price of the item increases by one penny, and the countdown timer increases by 10 seconds. To win the item you have to be the last person to place a bid before the countdown timer hits zero.
My friend told me his secret trick was to wait until there was only 10-30 seconds left on the timer and then to start bidding like crazy. So that’s exactly what I did. When the countdown timer hit 15 seconds I started placing my bids. My competition gave up after I used 22 bids, and the countdown timer hit 0. It was a HUGE RUSH, I just got a new iPhone 4G and I only had to pay $15.93 for it!
This was incredible! I went on to bid on a new Macbook and didn’t win the first auction. But I tried again, and won a new MacBook Pro and only had to pay $42.83 for it. If you’re thinking about trying out penny auctions, my advice is to buy a 250 bid pack and to start bidding when the timer hits 10-30 seconds. You’ll be amazed by how low the prices are right now.