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Recent years have meant that people are doing their very best to save money wherever possible. The cost of living is increasing on almost a daily basis, yet the salaries that people are receiving for the most part, tend to stay the same. Obviously, this is certainly not ideal and it means that something needs to change. A lot of disposable income is spent on products and services that consumers want. It is here that the majority of people could be spending a lot less than they currently are. This does not mean reducing the volume of items they are purchasing, but just getting a better deal on them. Why are penny auctions so great? When it comes to penny auctions, consumers have a chance to save exceptional amounts of money. Most people are under the illusion that in order to save huge amounts of cash, they need to import items from China, or buy in bulk; neither is true. With penny auctions, consumers can get excellent deals on home turf. In fact, on many occasions, they are able to get deals cheaper than buying in bulk and cheaper than importing items. This is because penny auction websites have produced a format where everyone can be a winner! What do they offer? The great thing about this format is that people have a high percentage chance of winning an auction in comparison to standard bid up auctions. With penny auctions, consumers will only be competing with a few other bidders, rather than thousands. Bidders have to actually pay for their bids and therefore, they have to make a commitment. This puts a lot of people off and it is this reason that makes this style of auction so impressive for the people that do get involved. By selecting a few clever placed bids, they have a chance to save around 90% of the RRP on products, without actually outlaying much cash. Are there any alternatives? Those that are involved with penny auctions will know that there are other sites that offer a similar opportunity in terms of the cash that can be saved. For instance, lowest unique bid websites offer a similar opportunity. They too, require the bidder to pay for each bid that they put on an item. Instead of being a bid up style auction that increases by 1p at a time, the consumer needs to try and determine where the lowest unique bid is. If they win, they pay the price that they have bid. Again, regular 90% savings are commonly available on these websites, on products that are main stream! Conclusion The great thing is that with penny auctions, consumers now have a chance to obtain products that they thought they might not be able to afford. Instead of being priced out of the market by high retailer prices, they have the opportunity to pick up top quality products at prices that they never thought were possible. Of course, there is some strategy to this type of bidding, so it is worth taking some time to research the site format and past auctions before diving straight in. On the BidGrid auction website it's the lowest unique bid that is the winner. The auctions are great fun and you can get all your bids back if you don't win. Take a look how it works.
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