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Penny Bids: invest meager and profit higher by Amit Sharma
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Penny Bids: invest meager and profit higher |
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Business
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Gone are the days when bidding in the auctions was the privilege of the affluent people. Today you do not need to be a person from an opulent class to place your bids in the auctions. Today the advancement of science and technology has revolutionized the world in such a way that sitting at home just at the slight exertion of the pressure of your fingers you can have everything. The use of computer, internet and mobile phone has transformed the face of the world. If you have the internet connection, you can do wonders in the world without even moving a step. There was a time when to participate in an auction was a hectic task. The interested bidder had to be physically present at the place of auction being held. But the biggest hindrance was that of money. To be a bidder it was necessary that you had enough fund. So in this way it became the privilege of the rich and opulent. Today, to participate in an auction you need not become a royally rich person with large bank balance. And penny bids are such comfortable and advantageous auctions that anyone from anywhere in the world can participate in the bidding and can purchase an item far below its market price. One of the quaint features of the penny bid is its unique bid with a small amount of increase in the price such as one penny ((0.01 USD, 1¢, or 0.01 GBP, 1p etc) and that is why this auction form is known as penny bids. The small amount extends the time of the auction by few seconds. There are several sites that facilitate the online penny bidding and the bid prices vary according the sites and the amount of bids that you purchase. The one who auctions the article receives the amount of each bid made and also the final price of the article. Thus there are chances of high profit and at the same time the one who makes the final bid also receives the item at a price lower than the actual market price. So to participate in penny bidding you do not require being a millionaire and at the same time you needn’t physically go to the place of bidding. In fact the place of auction is not real or physical but virtual. With the escalation in the number of bidders and the auctioneers, there appears to be a heavy traffic in the in the field of auction and taking undue advantage of the vulnerable situations many enterprises have come up with their fraudulent activities. So before you dive into the world of penny bidding you need to be very much careful and especially if you are a tenderfoot in this field you need to be extra cautious. If you are a person newly entering the field of penny bids you should first opt for the trusted sites. You may search the internet and find out several options with various reviews and thus finalize with auctioning site to start with.
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