Isn't it cool when you see those rich guys in the movies, dressed in suits, fighting over an idiotic thing in an auction? They throw away thousands of dollars and are remain so calm when doing so! I always wanted to be one of those Well, the Internet, again, has come to my rescue!
Here are some kinds of auctions available online,
? Penny Auction: Simple as the name, these kinds of auctions start with the price of the item being $0 00 and with each bid, the price increases by a preset increment (usually $0 01) Each new bid adds a few seconds to the clock and the guy who bids last, wins
? Price Viewer: This kind of auction is characterized by the fact that the current auction price remains out of view To view the price, you have to pay a fee Hence, the name
? The Reversal: Exactly opposite to the penny auction, where the start-off price is $0 00, this auction starts off with the price of the item in the general market and begins to lower If you think you can spend the current amount, you can end the auction there and then
? Lowest Bid: By far the most difficult to win, this auction requires you to bid a unique value and the person who bids the lowest value, wins
What the Internet doesn't give you, sadly, is a list of websites that you can trust and can't Spammers are the first to set penny auction sites that cheat you of your money Anyway, from those that do provide you great service, these are the most prevalent kinds of auctions you'll find!
Source:
Types of Penny Auctions
Article By:
Jessica Moorhill
Source: http://www.internet-marketing-cafe.com/Art/192836/108/Types-of-Penny-Auctions.html
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