Penny Auctions — What Say You?

October 19, 2012

Frugal

While we’ve been cleaning stuff out of closets and organizing things, the daughter and I are probably going to start selling things on online auctions. I’ve been looking at alternatives to the big “e” auction site, as I do not like them and their exorbitant fees.

While surfing online auctions and learning more about how they work, I came across the “penny auction.” I’ve heard of it before but I haven’t really looked into it until now. DealDash is the biggest and longest-running penny auction site. You don’t sell stuff on there, but you do get some pretty incredible deals. With DealDash, registration is free but you do have to pay to bid. The nice thing is that every auction starts at $0 and each bid raises the price of the item by 1 cent. Bid packs are 60 cents each. Some folks have apparently gotten some incredible deals, especially on electronics.

Deal Dash also touts itself as risk free because they will refund your bid money if you are a first-time bidder and you use all your bid money without winning an auction. They also allow you to buy the product at regular price if you don’t win the auction, which is nice if you found something you especially needed. And another part of the DealDash risk free deal is that they will refund your money 100% if you are not completely satisfied! There’s more information and a video if you want to learn more about how it works. It’s definitely worth checking out.

So it all sounds very good. I have never tried a penny auction before. Have you? If you have, leave your comments and tell me how it went. It seems like a very good way to get holiday presents.

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