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Penny Auctions List - New 
Post: #1   PostPosted: Sat Jun 12, 2010 1:16 am Reply with quote
Steve - Admin
Site Admin
Site Admin
Joined: 07 Sep 2007
Posts: 215


With the rise in popularity of Online Penny Auctions we have created
a new list containg:

Established & Popular UK Penny Auctions
Established & Popular American Penny Auctions
Established International Penny Auction Sites
Also includes sealed bid, Unique Bid & Reverse Auctions

What is a Penny Auction?

" A penny auction, is a type of auction in which participants must pay a
non-refundable fee to place a small incremental bid. When time expires,
the last participant to have placed a bid wins the item and also pays the
final bid price, which is usually significantly lower than the retail price of
the item.

Because most bidders will receive nothing in return for their paid bids,
some observers have stated that the fee spent on the bid is actually
equivalent to a wager. The auctioneer receives income both in the form
of the fees collected for each bid and in the form of payment for the
winning bid."

Source: Wikipedia

What Is A Unique Bid Auction?

This type of auction requires bidders to place bids that are unique. That
is, for a bid to be eligible to win no other bidder can have made a bid for
the same amount. Bidders are generally able to place multiple bids and
the number of current bids at each amount is typically kept secret.

Source: Wikipedia



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