Reverse and penny auctions are a fabulous way to get a great deal on everything from electronics to gift cards. The winner of the auction literally pays pennies on the dollar for the item that can cost hundreds or thousands. People have won plasma tv's, game systems and gift cars for a few bucks! Sounds unbelievable right? The way it works is that the losing bidders end up paying the cost with their lost bids because each bid costs $.25-$.90 to make. If you bid in the last seconds of the auction you run the best chance of winning without wasting bids. Its a new way to bid on stuff other than ebay and the auction winners pay ridiculously low prices. Its really a fun and exciting way to shop! Examples of items auctioned off: tv's, video game systems, laptops, ipads, iphones, ipods, desktop computers, jewelry, watches, etc.
You get much better deals than ebay!!