EBay is yesterday’s news. What’s new is penny auction sites. One of the sites generating a lot of talk is SpicyBids. With their unique system, lucky buyers stand to save a substantial amount of money.
The catch is there is a fee to place each bid, between .30 and 16 Rs per bid. Users buy packs of 20 to 1000 bids at a time, then can dole them out on items they crave. The site highlights auctions that are in their final seconds.
But here’s another catch. On SpicyBids, users can pre-program bids using a “BidBuddy,” which waits until the final seconds to place your bid. But every time a bid is placed, the time left on the auction jumps up. So it can be quite exciting – and frustrating – to watch an item’s price continue to climb as the countdown actually counts up.
But the deals have to be seen to be believed. An unlocked iPhone for less than you would be bothered to bend over and pick up in the street, the prices are amazing!
Note: A Penny Auctions is an auction where bidders pay per bid (e.g. 30Rs per bid) and the price of the product/item in question goes up by a fixed amount (e.g. 1 Rs per bid) on every bid and time counter is increased. What makes it more interesting is that there is a reverse countdown and the person who is last to bid when countdown reaches zero (typically 00:00:00) wins the auction. We suggest you to take a look at www.SpicyBids.com to get a feel of how it is like.
