Have you ever heard of a Penny Auction? Yeah, I hadn’t heard of one either up until a few days ago when a good friend of mine told me he was thinking of joining one. He briefly described what a Penny Auction was and I thought the concept was one of the best ways of making money I had ever heard of. I wanted to figure out how I could make my own Penny Auction website. I mean, whoever came up with that idea is a bonafide genius.
Let me explain how it works.
One day Mrs. Smith is sitting at home while Mr. Smith is busy making more money for her to spend. She’s already taken the poodle to the groomer, already painted her nails, and she’s already lounged by the pool, but now she’s bored. She gets on her computer, looks at her Facebook, sends a few emails, and in no time she is bored again, BUT she notices an ad on her screen that says :
“I’m giving away a ton of free bids! I have to up to 50 bids to give away FREE to YOU! Use them to play for FREE on my Penny Auction site! Register for FREE today and I’ll load your account with your FREE bids to play in the auctions and win with!”
The word FREE catches her eye and she’s caught like a cold.
She proceeds to the website and registers for free. She then receives her 50 free bids which is when she realizes that those bids are actually dollars and she can use those dollars to make bids on items throughout this website she’s stumbled upon.
Things are going good. This website is quickly becoming her new best friend.
That’s when she notices an iPad that is being auctioned for $42.37 and then all of a sudden the price changes, it’s $42.38 now. She stares at her computer screen, mouth open, until the auction suddenly ends. Her mouth is now dry to the point of sandpaper and her eyes are close to exploding.
The iPad she was watching sold for $89.31!
She runs to the kitchen and laps water out of the faucet like a Great Dane then realizes she’s a lady and makes herself a glass of wine and returns to her computer. She learns how to place bids using her free money and quickly burns through $20. She now has $30 left and the item, a $100 Best Buy gift card, is up to $4.28. The auction is ending soon, she can feel it, she’s learned the timing.
When a bid is placed on an item, a timer is reset back to 20 seconds, when the timer reaches 0 the person who bid last wins. Mrs. Smith has been concentrating on her Best Buy gift card so hard she can almost stop time now if she wanted. She continues to bid.
It takes her a moment to realize she has just won her gift card and she still has 4 bids left! She stands up from her chair and promptly falls to the floor. She’s lost blood circulation in her legs and they’re painfully numb. Once the circulation returns she does an improvised version of the Happy Dance she was going to do at first and then wonders what she’ll buy with her new gift card.
She still can’t believe she just bought a $100 gift card and only paid $6.24!
That, my friends, is what a Penny Auction is and that is what this blog is about. Well…some of it, most of it is about how you can make money off of one.
Yes, apparently you can make money by using Penny Auctions. Let me explain it a little better, dumb it down for you ok?