How Penny Auctions Is Different From Traditional Auction Sites

How Penny Auctions Is Different From Traditional Auction Sites IT’S TOTALLY NUTS!

While penny auctions and traditional auction sites, both, offer products on auction there are significant differences between them. The payment processing and the bid time are two of the key differences between these two types of sites.

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hile both penny auctions and traditional sites like eBay, both, offer “buy It Now� features, they differ greatly on the time limit. Other major differences between these two types of sites are the payment process and the entertainment value.

In other words, penny auctions are more intense than the traditional ecommerce sites like eBay. Let us consider the time limit for both types of sites. Traditional ecommerce sites, like eBay, often keep the auction open for more than a week. Whoever is the highest bidder when the time runs out is the winner.

For example, there might be a mobile phone on auction with the starting bid being $20. Of course, there will be a very fierce competition to get such a thing at such a low price. After a whole week of bidding where everyone tries to outbid the other, the price of the item gets really high, even higher than the retail price perhaps.

Compare this against the time limit

rules on a penny auctions. The time limit on these sites is pretty short, much shorter compared to the traditional sites. Generally the time given for placing a bid is 20 seconds.

If none outbids the highest bidder in 20 seconds, he is the declared winner.

Each time someone places a bid, the timer resets and starts to count afresh. This is so thrilling and realtime an experience that often penny auctions are referred to as entertainment auction, nowadays.

This fast-paced action based experience is lacking in the traditional bidding sites.

The second major difference which we noted earlier is the payment processing for both the sites. In traditional auction or e-commerce sites like eBay, you must pay the amount equal to the bid, plus the shipping & handling charges and the taxes, that is, if you are the winner of the auction. So, if you win a mobile phone at 120 dollars, and the taxes are $5 and the shipping & handling charges are $15, a total sum of 140 dollars must be paid to receive the

book. Again, compare this against the penny auctions, you need to pay a very minimum amount as the price of the item, often a single digit amount, plus you need to pay the shipping &

handling charges along with the taxes, if any. On penny auctions, the cost of placing the bids must also be taken into account.

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.