So I think im going to start getting into these penny auctions. I feel like if you know what you are doing and do a little research, you can use it to your advantage most of the time.
quibids is the site I'm gonna prolly start on. The way it works is you buy a certain number of bids for $0.60 per bid, and then use those bids to try and win a product, say a blu ray movie. if you are the last bidder, you win the product. if you aren't then your bids go to waste UNLESS you decide to purchase the product at retail value. then you get the product minus the difference you spent in bids. So if you bid 20 times on a blu worth $25, you only have to pay the difference of $13, since you spent $12 on bids.
so as long as you are committed to buying the product either way, you can never actually lose.
ill see how it goes. you have to buy bids in a package, so like 45 at a time, which means there will most likely be some left over after winning a product (or not winning a product). if i do this and i have some bids left over, ill see if i can win some random things and give them away here (as long as i dont want them
)
whoever invented this things is a flipping GENIUS since they pretty much can't lose either. ive looked at completed bids, and they have sold $100 gift cards for say $8.00, which at first looks like a major loss, but when you think about the fact that 800 bids had to be made for that auction at $0.60 per bid means they sold that gift card for $480
anyways, ill report how well i do. its kind of like gambling lol
quibids is the site I'm gonna prolly start on. The way it works is you buy a certain number of bids for $0.60 per bid, and then use those bids to try and win a product, say a blu ray movie. if you are the last bidder, you win the product. if you aren't then your bids go to waste UNLESS you decide to purchase the product at retail value. then you get the product minus the difference you spent in bids. So if you bid 20 times on a blu worth $25, you only have to pay the difference of $13, since you spent $12 on bids.
so as long as you are committed to buying the product either way, you can never actually lose.
ill see how it goes. you have to buy bids in a package, so like 45 at a time, which means there will most likely be some left over after winning a product (or not winning a product). if i do this and i have some bids left over, ill see if i can win some random things and give them away here (as long as i dont want them
)whoever invented this things is a flipping GENIUS since they pretty much can't lose either. ive looked at completed bids, and they have sold $100 gift cards for say $8.00, which at first looks like a major loss, but when you think about the fact that 800 bids had to be made for that auction at $0.60 per bid means they sold that gift card for $480
anyways, ill report how well i do. its kind of like gambling lol
