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Even thousands of years ago, people always wanted the best deal. The difference was then, that people bartered goods, rather than using a monetary currency. It seemed a few years ago that all the ways to really save huge amounts of cash had completely dried up; then auction sites appeared. People were suddenly able to get great deals on new and used items from across the globe; it helped start and continually bettered the internet industry. The question is, if these places are so good to get deals, why do penny auctions even exist? The fact is quite simple; for those who know how to use them, penny auction sites are a way to save yet more money. The main stream auction sites have become victims of their own success. The sheer volume of people and auctions makes it hard for everyone involved. Sellers are not able to get the prices that they want for their goods, because there are thousands of other similar auctions. Buyers have even more issues. Not only are they competing against thousands of other buyers, but they need to dig through thousands of auctions in order to find what they really want. Essentially, where this used to be a convenient way of shopping, now it has just become hassle. The sheer popularity of these sites means that the great bargains are now, extremely hard to come by. Everyone that uses these sites could be missing out in a big way. Penny auctions offered people that loved auction sites a way to bid on items in the way they knew best. They are able to log onto an auction site and see a dozen or so auctions, rather than ten thousand or more. They are nowhere near as popular as main stream auction sites which mean the competition is not as fierce. So that means the seller is losing out, right? Wrong! The seller on penny auctions websites is the website itself. They are the supplier of the goods. They make their cash from the bid credits they sell. Essentially, it doesn't matter what price they actually sell the item for. The monetary value that they receive for the items makes a minor difference to the actual over revenue that they receive from these auctions. Essentially, everyone that is involved is a winner. Everyone gets exactly what they want. The auction site is guaranteed to net a decent amount of revenue and the buyer is guaranteed to get an excellent deal. Are there other options? Believe it or not, there are actually plenty of other options when it comes to purchasing items through auction sites, not just limited to penny auctions. There are also unique bid auctions that give people a chance to bid based on a lowest unique bid, rather than just normally, like the penny auctions offer. Either way these formats are new, exciting and they are providing lots of people with some huge savings which were previously unheard of. Many people that use these auction sites are saving over 95% on the original RRP of the product they end up winning! Want to know more about penny auctions? BidGrid run a kind of penny auction site and make it perfectly clear in 4 simple, they also have a simple video tutorial. Registration is free and they also have free practice auctions where you can win site credits.
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