The Evolution of Penny Auctions

The Evolution of Penny Auctions IT’S TOTALLY NUTS!

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Evolution of penny auction sites has gone many different phases. It is an industry, which is very promising and customers can seriously benefit from these sites, if they bid on the most trustworthy sites.

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enny auctions are relatively new on the block. The industry is in sort of a boon period, with more and more people flocking to the bidding websites in hope of getting the item they want at the cheapest possible rates. Even when the industry is facing am up-time, it has come in for some slack due to a number of varied reasons. But it has been because of this criticism that the penny auctions have evolved to what they are right now. Here are some points that clearly depict how the auctions have evolved over the past few years:

Shill Bidding: Shill bidding or shilling is the use of known sources to drive up the price of the items. It involves the employees, family and friends bidding on items without the intention to buy the item. This practice of shill bidding has been effectively done away with.

Bots: Many an auction website had bots into in the auction system. The purpose of the bots was to keep the auction going. The new practice

websites are adopting a more healthy way to keep the auction going by letting the customers do it.

Time limits: In the earlier auctions, there was no time limit on the auction. Each auction could go on indefinitely.

Therefore, the auctions were a very tedious job. Presently, the auction for any item comes with an expiry time.

This ensure that the bidders do not have to pay more than they normally would have and the auction does not become very tiring.

Fairness: The last and most important evolution that has come about is the increased fairness in the auctions.

People can see the profiles of other players who are bidding. Moreover, the last bidder is visible and the complete list of bids is also available for the bidders to view.

With a number of new penny auction coming up, attention to the customer satisfaction is being meticulously given. The major flaws in a number of older websites are being continuously rectified and improved upon to give the best service to the customers.

The new penny auction websites are aiming to be fairer and incorporate more trustworthy auction systems to cater to the needs of the people who spend time and money on the bids. It

is pleasant sign and shows the commitment to sustain that is driving the industry and not just aims for short term gains.

About Nutbid After first discovering penny auctions we were hooked. We think they're one of the coolest and most exciting ways to shop today! Plus it’s affordable! But, we saw room for improvement. That’s when we decided we could change things!

We decided that we wanted to build a penny auction site that was sleek, powerful and easy to use. We also wanted to give you the best customer support possible with that personal approach.

You can win all sorts of popular products at incredibly low prices – all from the comfort of your own home! And you never have to go away empty handed, even if you don’t win the auction. Most auctions have a “Buy Now” feature that allows you to purchase the product after you’ve placed even just one bid.