Monday, July 18, 2011

New vs Old Penny Auctions

New vs old penny auctions: Which should you join?

It is a hard question to answer, because just as with everything else in life, there is a trade-off. You should understand what you gain and what you lose on new and old penny auctions so you can decide better which ones you should join.

By old penny auctions, I mean old and reputable penny auctions that have been in business for a while and aren't really going to close shop overnight. Examples include Quibids, BidCactus, BidRivals, BidHere, etc. New penny auctions keep changing more rapidly. Currently, the best new penny auctions include sites like HappyBidDay, OrangeBidz, etc.

The major difference between old and new penny auctions is the amount of trust you can have in them. It is true that a lot of penny auctions close down because they soon realize that the market is competitive and it is not easy money as they initially thought it to be. If a site you invested heavily in closes down, you risk losing your money.

That being said, new penny auctions usually provide the best deals you can find that are almost impossible to find on established penny auctions like Quibids.Also, if you don't seem to trust a site a lot, you can always look for the PayPal option because you can get your money back if things go south.

The main reason why bidders choose new penny auctions over old penny auctions is precisely this: they are far less competitive than established penny auctions and can get great deals. In addition, new penny auctions have regular deals and offers that cannot be matched by the bigger players. For example, HappyBidDay gives a lot of free bids bundled together with the gift cards, which means with little initial investment you can win great items and get free bids and then use them to win more items. Such offers are seldom found in the big players.

The best feature of old penny auctions is that they are very well trusted and legitimate. You don't usually have to worry about whether they will turn fraud tomorrow or whether you will get your item that you won or not (although established penny auctions have in the past gone down too). In addition, a lot of these auctions give you Buy Now which greatly cuts the risk that you take on in an auction.

So if you are wondering on whether you should bid on new or old penny auctions, these are some of the things you need to consider. Join me on Facebook to get the latest coupons and promo codes for both new and old penny auctions. 

6 comments:

  1. Absolutely correct! If you go with a new penny auction site you may have a better chance of winning, but who knows if they will follow though with actually sending you the item. Older sites like Quibids are verified and many users have received their winnings. Also you can check with who has won and chat with other users at www.QuibidsReport.com to see what others say

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  2. Happy Bidday is the worst! They give away tons of free bids. BUT, what happens is that everyone else has tons of free bids. You can bid for hours and hours and never win.

    I've also noticed that new auctions have more restrictions in place (for their own security). That means more rules. You must pay for won items before you can bid again, you have to pay for shipping etc. I have found the old school people to be nicer, for some reason.

    One thing, if you go new, make sure you read their terms carefully. I lost an Ipad lasy night due to an obscure little rule I'd never heard of. Proceed with caution.

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  3. As well as at penny auctions, i think live auctions can be good for finding bargains. People are turning to technology more and more, so going to an auction in person these days can actually see less competition. One i go to regularly is Abbeys

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