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For many years, we have had a huge obsession with bidding and auction websites from all across the globe, on the internet. Most people will tend to think of one main operator when the words "auction site" are mentioned, but there is a lot more to this industry than many people would ever imagine. Although there are still a couple of large sites which dominate the "main" auction industry in terms of the amount of auctions listed and the amount of members, however this does not necessarily mean that it gives users the greatest chance of saving money. There have been plenty of innovative ideas when it comes to the different auction formats that could be run in order to make a completely unique auction website. For instance, the penny auctions format is one that has been incredibly popular over the last couple of years. This is where a bidder bids on an item, by paying a small fee. The price will increase by a penny and the last bidder will buy the item for the final bid price. iPad's sell for a few pounds and MP4 players have been known to sell for even less. The reality is that there is a huge chance to save money here. It seems that in the world of auction websites, penny auctions are no longer new and exciting. Nowadays, more people focus on lowest unique bid auctions, as they require more skill and strategy rather than sitting there for hours just repeatedly clicking the same bid button. Again, users still pay a small fee to the auction website to place a bid. This bid cost will depend on the value of the item. For instance, a bid cost on a £2,000 computer may be £1.00, where as the bid cost on a car might be £5.00. With auctions finishing around 95% below the original RRP, this is a real money saver. Effectively, people could find that they win a £2,000 item for £10 or less, plus their bidding fees. The concept behind the auction is much different to an average seller to buyer auction. The auction website will always try and organise it so there is enough bids to cover the cost of the item and to make some profit. Luckily, if they are not able to make a profit, that is not the bidders problem. They still get their item at a ridiculously low price and are able to get savings into the thousands. Essentially, understanding the way that the lowest unique bidding system works allows people to understand how they can create a strategy that is likely to be effective and therefore, save them the most cash! Do not jump straight in when it comes to lowest unique bid auction websites. There are plenty of chances to save money with these online bidding sites, but learning is the key. It is worth going through past and present auctions and try to identifying patterns. This will give an individual a much better chance of winning auctions on a regular basis, rather than wasting lots of cash paying for bids, for auctions that they do not win! There are also a range of auction guides that help develop strategies for these websites, available on most search engines. BidGrid is a popular lowest unique bid auction site. They also have free practice auctions so you can develop your own bidding strategy. See how it works now.
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