Many explanations of how a penny auction works can seem convoluted or confusing. Here is a very simple breakdown of how they will work of www.paradisepennyauction.com.
There are two main components: 1) purchasing bids and 2) bidding on and winning auctions.
Bids are purchased for $0.75 each in blocks of 25, 50, 75, 100, etc.
Once the bids are purchased they can be used on auctions. Placing a bid on an auction increases the price of the item by $0.01 and adds 5 - 15 seconds to the auction timer if the auction is in the last 10 seconds. The last bidder wins!
There are two main components: 1) purchasing bids and 2) bidding on and winning auctions.
Bids are purchased for $0.75 each in blocks of 25, 50, 75, 100, etc.
Once the bids are purchased they can be used on auctions. Placing a bid on an auction increases the price of the item by $0.01 and adds 5 - 15 seconds to the auction timer if the auction is in the last 10 seconds. The last bidder wins!
The winning bidder then pays for the ending auction price for the item plus shipping.
Hope this helps! Please contact with any questions!
