Most of the big auction sites over the internet are losing market shares and plenty of traffic because of the penny auctions. There are many regular customers of auctions sites who are switching towards the penny auction sites because they have more chances to purchase the same products at a way less prices then the auction sites.
Penny Auctions are setting new standards
Penny auctions sites portray the actual spirit of auctions. The process of purchasing from these sites involves bidding by the customers. There is a time period for the auction proceedings and every time when someone places a bid ten seconds are incremented in that time period. Similarly one penny is increased in the auction price after every bid. When the time period reaches zero, the last person bidding gets the product.
Usually the bid winners get a product at prices which are very much less from the market prices. Those who do not get their bids won loose no money just their bids are wasted. Usually the penny auction sites sell bid packages to users which is one of their ways of covering loses. Penny auctions are center of attraction for all new users and existing users of auction sites and they will become more popular in coming times hopefully.
No comments:
Post a Comment