With live penny auctions the tedious shopping days are a matter of the past

If you are looking for a bargain, you will want to come and visit the best penny auction site. For those that are not aware of the new trend in online auctions, penny auctions feature bidders competing for a right to purchase a product. Bidders purchase bids from the live penny auctions website. Each time a bidder makes a bid, his number of bids at the website is reduced by one. This also increases the amount of time remaining in the auction. Eventually, the timer for the auction reaches zero, when nobody else wants to bid or they fail to raise the bid in time. All the winner of the auction must pay in addition to the cost he paid for his bids is the final price of the auction. Frequently these final totals can be over 90 percent off the typical retail price of the product.

Participating in a penny auction website isn't just participating in an auction. It's participating in a game. Strategies must be developed to find out when to bid and how many bids to use on an item. Live penny auctions are a way to purchase holiday gifts at large bargains. You can purchase products that normally sell for hundreds of dollars for under $50. Product categories include electronics, appliances and gift cards as just a few examples.

Online charity auctions are not just fun, they benefit others. Many websites donate part of their profits to charities to help the less fortunate. Watching the timer count down, you get to feel that tingle in the back of your neck wondering if you just managed to sneak in the last bid of the auction. If that timer goes back up, jump into the auction again with another bid.