Monday, October 24, 2011

Genuine Penny Auctions: How to Spot Good Penny Auctions

Finding genuine penny auctions can be a challenge. Penny auctions are dime a dozen today and there is way too much choice. The bad news is that this is not good news for the consumer! The reason is that a lot of penny auctions wind up their business very soon and a few others are just outright scams. The other dilemma is an obvious one - if you bid on established sites, you face steeper competition but are assured that they won't disappear overnight (the best example is Quibids). On the other hand, the new penny auctions give you better deals.

So how do you find the genuine penny auctions? I have always maintained that most reviews of penny auctions on established sites reflects little truth - I have seen the 'top' sites disappear all too often. The reason is easy - they are highly biased! The penny auctions give out gifts in exchange for a good review, which destroys the whole purpose of a review.

So here is a good way to find out the genuine penny auctions: Look at the free market. That's right, let the bidders decide which sites they trust. I go to PennyAuctionCoupon and look at the deals. How many people have bought deals from a given penny auction? The more the number of deals bought, the more highly voted it is. This is fairly unbiased as people are actually putting their money into the penny auction they like.

You can find a list of all previous deals at PennyAuctionCoupon and this should give you a fair idea of the average. Then you can see if your favorite penny auction was ever featured and how it compares to the rest. Also, this is a good way to find new penny auctions.

However, do be careful because sometimes the new penny auctions might give a very good deal that is hard to resist and result in more people purchasing it which may not reflect its popularity. This however is a good tool to use in finding and judging penny auctions.

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