I believe if there are many people know about penny auction. But of course there still a little part of folks who do not know what penny auction exactly means. Here is the short review of penny auction.
Penny auction actually is a kind of auction where people place their bids with pay- per- bid method. Then the winner is someone who bids the last when the timer counts down to zero. Some of penny auction sites require you to pay the amount showing for the item you purchase. No need special skill to win the penny auction, just set a strategy to win the item with low prices. You can even get another advantage after winning the bids such as the sites will remember your name which could bring you to the next victory.
You may have come across the penny auction sites and find the sites which appear to be doing the business underhandedly by using shills. Shills means the owner,friends or someone else who places the bid just to attract more people to join the sites. It is one of some dishonesties of penny auction sites which you must beware of.
I think many people already know that become a winner for the first auction on penny auction sites will ease you to win the next bidding. In the other words, the online penny auction sites do not play fair, no wonder if you find someone who has already spent more than the item’s value and back home as a loser because of the inquity.