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As penny auctions become increasingly popular, new bidders are faced with a rather harsh reality – the world of competitive shopping can be quite competitive.

If you are new to penny auctions, the Penny Auction List would encourage you to take the following steps before jumping into penny auctions for the first time.

  1. Learn how penny auctions work.
    Click on the image to the right to get a quick, simplified introduction. Moloyo is another site with a great crowd-sourced penny auction definition.

  2. Research the penny auction you want to bid on.
    If the auction is not part of our carefully-filtered penny auction directory or verified over at PennyBurners, we would encourage you to avoid bidding there, especially as a newbie. Some sites utilize shill bidding, which means that they employ fake bidders or other fraudulent methods to drive up prices. Sites that we approve must meet a strict set of criteria before being added to our directory, so you can start by playing on sites that have proven their legitimatize.

  3. Get advice from other bidders.
    Check out our exclusive bidder interviews for helpful advice from real bidders. Learn from their mistakes before you ever start bidding.

If you’ve made it through Steps 1-3, you’re ready to start bidding for the first time. Read Penny Auctions for Beginners – Part 2 and we’ll tell you about some sites that offer beginner auctions and free bids for registering.

 

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