Penny auction sites have not managed to recover from their downward spiral in 2011
Big name companies started leaving the scene, as well as a few scams that ripped off consumers, making them cautious of the penny auction scene.
However, this is great news for those people who still use the sites, there is reduced competition meaning better results and less money spent. If you were thinking of taking up this concept as a business opportunity, there is more work in running a penny auction site than you could imagine; it is hard work and you will need to have access to a penny auction merchant account so you are able to take a number of different payment options from your customers.
There are great sites that offer the same penny auctions that have lasted against the odds after the crash in popularity.
Quibids is the largest penny auction site currently available. What makes this auction site different is the shop that has opened. It allows customers to purchase items straight away, with no auction and no stress in bidding for items.
Beezid the success of this penny auction site is in the advertising, not the only penny auction site that has advertising on television, but one that works; many other penny auction sites have found this concept difficult to master.
HappybidDay feels different from the other sites and while it still runs auctions, there is the possibility to earn bids too.
Pennygrab openly admits their rules are more complicated than other penny auctions, but they claim you will have the most fun on their site.
Dealdash has the largest amount of active bids, but bidding doesn’t occur until the final 10 seconds making this a very quick auction.
There are deals using the penny auction sites, but people are being more cautious regarding the sites they log on to because it is possible to defraud people with the pretense of sending out the goods and running a penny auction site or imposing impossibly high delivery charges.
Going into business in the penny auction market is an option. It has the potential of making money, but its popularity has decreased, and made a good return on money invested will require a lot of hard work and determination.
If you’re in the market for a penny auction merchant account, fill out that quick form below today.