The most popular and common item you will see on penny auction sites are electronic items. These could be anything from televisions, Ipads, phones, camera’s etc. Obviously the reason for this is because these are the items that most people sign up for. Sure winning a book is nice, but it doesn’t exactly compare to winning a brand new HDTV. Does it?
In all honesty, winning electronically items are usually much harder then the penny auction sites would have you believe. Ipads are probably the flagship item on nearly every site you go on, why? because they make the penny auction sites a ton of money of course. Many of the advertisements that you see will say something alone the lines of “Brand new Ipad goes for only $8.92!” which would appeal to anybody.
Because of this, every user will flock to the Ipad auctions in the hope that they will walk away with a bargain. It doesn’t always work out quite like that, because the more people there are bidding, the less chance you have of winning. Now this isn’t always the case because sometimes there will be multiple Ipad auctions on at the same time, in this circumstance it’s usually okay to bid providing there are at least 6-7 auctions on at the same time.
Take a look at this Ipad review from cnet – http://reviews.cnet.com/ipad-3/
The good: Apple’s new iPad includes a stunning new screen, matched by a quad-core graphic processor and the world’s largest app and media store to feed it content. There’s a proper 5-megapixel rear camera now, with 1080p recording quality. Optional 4G data from AT&T and Verizon afford an uncompromising mobile experience.
The bad: The new iPad is slightly heavier than last year’s model; apps and movies optimized for the screen might take up more space; and ports for HDMI, USB, and SD require adapters.
The bottom line: With a host of improvements–faster graphics, 4G wireless options, a better camera, and a gorgeous high-res screen–the latest iPad cements its position at the head of the tablet pack.
So clearly theres a reason why Ipads are one of the most sought after items on penny auction sites. People love them! its really as simple as that, but this does mean more competition so keep that in mind.
Another item we see very regularly is the digital camera. Again, any items that has a high RRP generally has much more competition, this is because even if the buyer doesn’t really need the camera, he can still sell it and make a very nice profit which we will talk about in a later post.
It’s all in the detail
The high-resolution 24.3 megapixel CMOS sensor assures detail-packed pictures with excellent contrast and gorgeous colours. Exmor technology cuts noise while signals are converted to digital form. The result? Flawlessly beautiful images.
Pro-style continuous shooting
Capture fleeting action with a continuous burst of full-resolution images at up to 10 frames per second. From dynamic sports to momentary expression of portrait subjects – it’s a great way to grab that decisive moment. Source – http://www.sony.co.uk/product/dsi-body-and-1-lens/slt-a65vk#tab
Take this sony Digital SLR camera which went for $9.48. Although that sounds quite cheap, the auction actually went on for quite a while because there were many different bidders jumping in. You will notice that the higher ticket items will always end up going for more simply because there is more bidders.
The same can be said for televisions, another very popular item on penny auction sites. Going for items such as these can be quite risky.
The L2 is a Full HD LED TV in a slim design with AMR100 picture processing and built-in Freeview digital TV.
- 98 cm (39″) LED TV
- Full HD 1080p resolution
- AMR100 (Active Motion & Resolution)
- Built-in Freeview digital TV (Saorview – Eire)
- Connections: 1x USB, 2x HDMI® incl. 1x HDMI® with MHL support
- Colour: Black space-saving design with super slim bezel
$14.25 is quite a high price, especially on Dealdash. Sure it would be nice to win a television but in reality your chances are much more slim because of the competition issues we talked about above. 142 bids was placed on that auction before it ended. In this case, that actually isn’t too bad but we’ve seen items go for over $80 which would end up costing quite a bit if you were bidding since the auction began.
So remember, going for the really nice items such as Ipads, camera’s and televisions could end up costing you much more then you originally planned. Our strategy usually involves going for the lesser value items, but that doesn’t mean we don’t go for these electronic items. We just found that general items are much easier to win. So find a legit penny auction and start bidding, nearly every penny auction site will offer electronic items so the choice is up to you.