The Latest in Online Auctions--the Penny Auction Has Arrived

So when hearing the term it was bought for “pennies on the dollar,” someone must have been talking about SwipeBids, where name brand products from Apple, Sony, Canon, even automobiles from Honda, are featured on the site.

Realistically, if the customer wins his or her auction the savings can be tremendous—sometimes up to 95% off the retail price.

But before running off to the site and laying down hard-earned pennies to start bidding, there are a few preliminary steps that have to be taken before the consumer can begin. First do not confuse SwipeBids with EBay—two very different entities.

EBay’s products are often times used where as SwipeBids products are brand new. But unlike EBay, SwipeBids’ customers have to pay for “bid packs” before beginning to participate in auctions. So, yes, the consumer has to put up money first before having the privilege to bid on products, but even with the initial investment, the savings on a product can still be considerable. Where else is anyone going to find a computer, an Apple MacBook, that retails for $4000 starting out at $2.84—it sounds absurd but that is the truth--$2.84. However, every time a consumer bids on this product 10 bid points are deducted from his or her account. If the consumer is bidding against someone that has 10,000 bid points in his or her account and another consumer only has 500 bid points in his or her account, guess who is going to be able to outlast whom?

Click Here To Signup At Swipebids.com

The best advice to offer someone who is curious about this site is to go there and check it out at http://www.swipebids.com. There are many help files for the consumer to access to learn whatever it is he or she needs to know about bidding on products, plus there is an online chat where someone can actually talk to someone in real time via an instant messaging protocol, which is another way to gather advice or have questions answered, as these customer representatives are polite and knowledgeable.

So exactly what does a prospective auction participant have to do to start participating at SwipeBids? First thing is register. Like any other site there will be a user name and a password to distinguish people from one another. Second a “bid pack” has to be purchased. Once the bid pack is purchased, users pay just $0.53 to place a bid in an auction, which is the price of one bid. Remember the bid pack that had to be purchased before the auction participant can begin—every time a bid is submitted in an actual auction, one bid or five bids or even ten bids are deducted from the bidders account, depending on the product. Some products, the pricier ones, require up to ten bid points per one click when actually bidding on something. With every bid one cent is added to the price of the product.

The concept is a bit confusing at first but is by no means impossible to understand. In fact once a person has perceived the rudiments of the Penny Auction, skies the limit, which is why it is best to first go to the site and look around, read the help files and the FAQ information. SwipeBids can be great fun. Just read some of the testimonials on the site. People are ecstatic about their savings and the cool products that they have won.

Click Here To Signup At Swipebids.com