We have all heard and probably used the auction site eBay. Today there is a new wave of auction sites that are making a big entrance called penny auction sites. The newest penny auction site called dealfun.com is making waves across several news sites and have some features to help newbies understand how to best use the site. You join for free and maybe get a few free bids and then the game starts. What is alluring from a simple onlookers stand point is that you have an $800 item selling for $4.53. You can bid on and win items like iPads, laptops, and PS3’s. That sounds amazing and why can’t I win that. Here is how this auction works. Unlike sites like eBay where you bid on an item and you don’t win you are out nothing. At DealFun, once you bid the money is now put towards the item. So you can bid 4-5 units that may cost you .50 each but if someone outbids you that money is gone. The psychological aspect is quite interesting because the dollar is so low that you feel risking a few dollars to win a $800 item cannot be that bad. They are fun to watch and if you step into the game make sure that you set yourself a limit or you could end paying a lot for nothing. DealFun has put a solution in place for your first series of bidding that allow you to regain your bids within 24 hours of your first bidding experience. Plus they offer access to customer support and offer help to everyone on your question. I do like that they show what items sold for, who won them, and how many bids they used to win the item. They have just come online with a great domain name and will be compiling stories from across the industry on various auction types available. You can find articles on the site at MSNBC or on Yahoo to understand what other are saying.
Posted on 5th October 2015 by Jeff Rogers in Technology
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