Penny Auction REVIEWS – Which Penny Auctions are the BEST Bargains?

Thinking of opening your own penny auction? It’s an exciting and new way of doing business, but as with any venture that focuses on customer interaction, a lot of things rely on good practices in order to keep your patrons happy.

So how do you do keep your bidders satisfied? Well it’s more of a question of what you shouldn’t do really. Here’s a short checklist:

• Never shill bid. This includes using bots and bidding against bidders to artificially drive up prices on your site.
• Never disclose bidder information such as email addresses, credit card numbers and contact details to other parties. Keep this information confidential.
• Never mislead your customers. If you’re auctioning off used items, make this clear to your bidders.
• Don’t divulge information on the number of bids a bidder has to other members.
• Never make any under the table transactions with bidders.
• Never take any hidden fees from your customers.

These are just some of the practices that give the penny auction industry such a bad rap these days. If you’re a penny auction site owner, or are contemplating on opening up one, then it’s up to you to improve the reputation of penny auctions.

While it’s true that penny auctions offer an immensely fun and exciting way of shopping for merchandise and other goods on the internet, the industry has unfortunately received a bad rap for the scrupulous practices of some sites. Those who have followed the penny auction industry since its infancy know all too well how these shady penny auction operators have preyed upon unsuspecting victims; taking their money, ripping them off, and just plain providing horrible customer service.

Fortunately, you don’t have to go through all that. With a few easy-to-remember practices that mainly have to do with how you deal with auctions, and how you pay for auctions, you can protect yourself from being a victim of fraud.

How to do that you might ask? Simple. Here are some tips to get you started.

1. First and foremost, never EVER use your real name when interacting with penny auctions. If you’re filling up an information sheet, you can put it in your real first name, and a false surname.

2. Keep a rundown of what you’ve spent. Not only are you keeping a close eye on your ‘amusement’ spending habits, you’re also keeping track of your win-loss percentage.

3. Use a separate e-mail address for your penny auction transactions. Also, remember not to include your auction username in your e-mail ad. As you might know, some bidders like to form groups and intimidate lone bidders. To keep them from pestering you, try to use to an ad with no connection to your username.

4. Always be careful with your credit card information. Have a separate card for your penny auction business, and carefully read the terms and conditions of a site before signing up.

5. Last but not least, never put your penny auction activities before your real-life priorities. You see this happening all the time. A bidder thinks he can win that MacBook with just a few more bids, so he puts a few of his bills at risk to bid some more.