There
are many ways to find bargains on the Internet but the most exciting way is through
a penny auction. Penny auctions combine the excitement of auctions as well as
the huge discounts of bargain sales. There are a lot of penny auction sites on
the Internet and one of the more popular ones is Zbiddy. Zbiddy offers some of
the best priced items on the Internet with discounts reaching as much as 50% or
more. This prices are so low that other are asking is Zbiddy a scam? Is Zbiddy legit? To answer this
question, it is important to know how penny auctions work and how Zbiddy is
able to earn some profit.
The
Mechanics of a penny auction
In a
regular auction, bidders will bid using actual money and only the winner bidder
will shell out some cash. IF you do not win an auction then you do not need to
pay anything. In a penny auction on the other hand, in order for you to bid you
will need to buy some bid credits. In the case of Zbiddy, a single bid credit
is equivalent to $.60 and it is available in different packages from a set of
45 to 800 bids. After buying your bid credits, you can then bid on an item. The
last person to bid after the biding time expires wins the item and will pay the
closing amount.
Why
Zbiddy prices are low?
As
you can see from the example above, penny auction sites like Zbiddy do not rely
on the item price in order to earn a profit. Instead, they earn form the bid
credits that was purchased. In fact they want to keep the prices of their items
lower in order to entice more people to bid. For example, a camera which
retails for $30 in a store may end at $15 in Zbiddy. That's a $15 loss if it
was an actual auction but since it is a penny auction we must take a look at the
number of bids that were placed. Let’s say 100 bids were placed. At $0.60 per
bid that a $60profit just from the bids alone.
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