Penny Auctions Vs Ancient Auctions - Differences and Similarities
While on-line penny auctions and ancient auction websites, like eBay, both sometimes provide a Purchase-it-Now feature, they differ in terms of the limit system, payment process, and entertainment value. Briefly, penny auctions are additional intense versions of websites like eBay.
Time Limit Rules: Ancient Auctions
Traditional auctions, like those on the market on eBay, typically drag the auction experience out to a week or more. When the time runs out, whoever bids highest wins. For example, they may auction off an iPod for one week with a minimum bid rule of $20. But, there will be stiff competition to get such a coffee price on the item. When a whole week of everyone making an attempt to outbid every alternative, the item may sell fairly high, close to the retail worth, or even higher.
Time Limit Rules: Penny Auctions
The closing date system on penny auctions is abundant shorter and additional intense, by comparison. When the clock dips below a certain time (some sites make it 15 seconds), the auction can finish if nobody bids again. However, if someone else bids the clock will reset (to fifteen seconds again) and keep resetting until nobody else bids and the clocks runs down to zero. This makes penny auctions thus thrilling that they're currently commonly known as, "Entertainment Auctions," whereas ancient auction sites like eBay don't provide that fast-paced level of experience.
Payment Method: Ancient Auctions
In ancient auctions, if you bid the very best quantity by the point the clock runs out, you pay that quantity plus taxes and also the shipping and handling fees. So if you won an auction where you bid $five on a book and taxes and shipping and handling fees added up to $3.50, so as to say your item and receive the book you must pay $8.50.
Payment Process: Penny Auctions
The most difference between entertainment auctions and ancient auctions is that in entertainment auctions, you pay for the auction end worth in addition to bids you have placed and shipping and handling.
For example:
There is an iPhone auction with bids mounted at seventy five cents every, and price increments of one penny per bid. One person bids once and you win by also bidding once, just before the timer runs out. Once you win an auction, you procure your bids (1 bid of 75 cents in this instance) and the overall range of bids within the auction times one penny (a pair of bids x one penny = two cents). Thus in this instance, you won a complete new iPhone at a penny auction for only 77 cents. Whether or not you won the auction but bid ten times (ten x $0.75= $7.fifty) and there have been a hundred total bids (one hundred x $0.01), you still won a whole new iPhone for $8.50. That is the identical price for a book in the traditional auction example.
The Get-it-Currently Option
Some ancient auctions and some entertainment auction sites have a Buy-it-Currently option. On eBay, you can forgo the same old bidding method and immediately get the product for retail value. Penny auctions also have this feature, which is convenient if you don't win. The money you already bid in the auction counts towards half of it, and you merely pay whatever's left.
The simplest entertainment searching sites couple the danger-free, Buy-it-Currently option with an intense bidding experience with an unmatchable entertainment value. Versus traditional auctions which usually use hidden fees to even out the seemingly low value, auction winners will save up to 90% with penny auctions.
Savvy shoppers obtain penny auctions with bid prices beneath a greenback and value increments at a penny. The most important discounts are most feasible on the most recent sites, as a result of less people know about them they need much less competition, and therefore, are easier to win-and most significantly, win without too many bidders jacking up the value like in ancient auctions.
Author Resource:
aaron adish has been writing articles online for nearly 2 years now. Not only does this author specialize in Auctions, you can also check out latest website about
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