The best penny auction sites to buy on are:
|Swoopo (previously TeleBid) is an online auction with a twist as bidders pay a small fee to bid but can get new goods at much cheaper prices.|
|Flutteroo is a penny auction site similar to Swoopo but has 3 types of auction, including lowest unique bid. Join now for a bidding bonus.|
|YooBeeDoo is a new penny auction site which claims to help buyers more than other sites by limiting the number of bids on each auction so that they do not go on forever!|
|Madbid.com is a penny auction site where you pay to bid. Madbid claims to have a 98% discount, on average, over high street prices.|
|Quick2Bid.com is another penny auction site specifically for the UK and has a good selection of prizes to bid on. Get £2 just for registering.|
Penny auctions (sometimes referred to as bidding-fee or pay-to-bid auctions) are when bidders pay a small fee in order to bid against each other and a countdown clock.
The bidder who places the last bid in the time limit wins the item - usually at well below high-street prices as the auction site receives money from each bidder.
However, often by bidding the countdown clock extends the penny auction and the price is incremented. This method of buying stuff online is vastly different to conventional auctions but can be more fun and addictive and cheap bargains can be had - especially on new penny auction sites where there are not so many bidders yet.