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Bidding websites everywhere are jumping on this hugely profitable type of auction. It's known as a pay per bid auction, and it is without doubt one of the most profitable types of online auction. There are many different forms of pay per bid auctions, and each of these forms is really a subject in it's own right. What this article aims to do however, is to take you through some of the basic principles of the pay per bid auction system, and explain in slightly more detail why this is rapidly becoming the preferred form of selling for the majority of bidding websites today. When it comes to trying to understand how these pay per bid auctions work, the clue is very much in the name. By charging you a small fee for each bid you make, bidding websites which host these online auctions, can afford to make sure that the action closes at a much lower price than you might expect. In a traditional online auction you would typically keep placing bids at small increments until all of your opponents dropped out, or until the time expired on the auction. This is a great system for sellers as it means that they can ensure they are receiving the highest possible price that someone is willing to pay for their goods. But the tactics involved in winning a pay per bid auction are fundamentally different. You see, whereas in a normal online auction you would simply keep bidding and bidding until you won the lot or until your budget could stretch no more, pay per bid auctions offer a very viable alternative. And it's an alternative that many more online shoppers are now starting to explore. Bidding websites who offer these pay per bid services, do not expect to make their profits from the final sale price of the lots within the auction. Instead, they hope to make the majority of their profits on the fees which they charge interested buyers to place their bids. This unique profit model actually means that, if you place your bids carefully and precisely, you can come away from these online auctions quids in! Naturally when you are being charged for every bid you make, the last thing you want to be doing is storming in and making bags and bags of bids to try and win the lot. Sure, the cost of the items might be low, but you need to think about how much it is costing you to make those bids in the first place. Bidding wisely in these types of auctions is the key to success. The majority of bidding websites make no secret of the fact that there are some very cheap deals to be had on their bidding sites. You will often find lots for sale that are actually quite high value products, such as computers and phones. And what's more, you will find them being sold on pay per bid auctions at extremely low prices. Use them wisely, and you too could be walking away with a smile on your face, and some spare money in your pocket. BidGrid have added a twist to online bidding, It's always the lowest unique bid that wins. You can use the buy it now feature to enjoy risk free bidding. See how it works now
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