Are you ready for the next evolution in penny auctions? On July1, consumers will be introduced to the new website, PennyVacay.com. Founded by Shane Marcus, the website gives users the ability to bid on vacation destinations instead of traditional merchandise. PennyVacay will offer premium vacation packages and have a loyalty and reward program integrated into the website. Right now, all interested consumers can join the pre-launch list and bid on a cruise for 2 to the Bahamas. This newest website is another step in the evolution of the penny auction industry and could further solidify the culture of paying for less for premium products.
Penny auction websites have become extremely popular over the past few years. Hundreds or thousands of items are eligible to be bid on every day by consumers ready to buy high ticket items for low prices. When done right, penny auction sites can make millions in profits as consumers go on the hunt for super bargains. Interested investors should consider adding penny auction sites to their portfolios.
Here’s a little insight into how penny auctions work. Penny auctions function on a simple premise that is designed to fulfill consumer needs for bargains. Penny auction websites post desired merchandise online for only a limited time. These items are then bid on by consumers. After the merchandise is posted, a clock is started that begins to count down. The clock is reset every time a new person bids on the item. Penny auctions do require bidders to place money on merchandise (one dollar per bid) that they are not guaranteed to win. The winner of the penny auction is the bidder who makes the highest bid at the end of the clock’s cycle.
Now is the time for a real look into this booming industry. If you are an entrepreneur looking for a unique investment in a new and thriving industry contact eMerchantBroker.com. Even though the penny auction business is legitimate, most traditional payment processors still refuse to offer adequate and fair payment processing for your customers. The proficient agents that work for eMerchantBroker.com will manage your penny auction merchant account today with no unreasonable penalties and no hassle. Contact us today.