Online bidding websites are extremely big business these days. Millions of users buy and sell items from across the globe. Those that are buying items are able to get very good prices on items that they want. People that are selling items are able to convert items that they consider to be junk, into hard cash. Essentially, everyone that is involved with online auction bidding websites is a winner.
There have been more and more auction sites that charge their users to bid. Now, this might seem extremely strange. The majority of auction sites are completely free to use. Everything from the registration process right through to the process of bidding is absolutely free. The reality is that these websites are just a slightly different format to the main stream auction sites. Main stream auction websites are great places to save a few pounds, but the savings usually stop there, as there are just so many people bidding on the same items auction prices tend to reach a fair market value.
What do they offer? Bidding websites that charge their users to place a bid work in a range of different ways. Some of them are called penny auction sites. These sites charge per bid and each bid will increase the item price by £0.01. So if an item has 100 bids, it will have increased to a price of £1. The last bidder will be the winner and will have a chance to win items at prices well below their recommended retail price.
Another style of auction website that allows people to bid, but charges them for the privilege, are lowest unique bid auction sites. In these auctions, the bidder with the lowest bid that is also unique will win. It might be an iPad worth £500 or a mobile phone worth £200, the lowest unique bid wins, even if it is £0.01! For this reason, users are able to save upwards of 90% on the retail value of brand new items. The majority of these items are main stream electronics, or though some websites will even incorporate brand new cars into their listings, so there is a chance for every type of bidder to find something that suits them!
What is the cost of bidding? The cost of placing a bid will usually be determined by the value of the item being auctioned. For instance, an iPod worth £100 may be just 50p per bid, where as a vehicle worth £10,000 is likely to be £10-20 per bid. It is worth determining which items are the best ones to bid on, as this will increase the likelihood of actually winning an auction and not just wasting cash during the bidding process.
Conclusion Bidding websites now come in a range of exciting different formats. Main stream auction websites are great for those that are looking to save a couple of pounds here and there. That being said, substantial savings only happen on a very rare basis. For large savings, bidding websites that charge per bid such as penny auctions and lowest unique bid auctions present a much larger opportunity.
BidGrid are a popular bidding site online. The auctions are the unique bid wins style of pay per bid auction. You can bid in the free practice auctions to understand how it all works https://www.bidgrid.co.uk/en/how_it_works.html