Have you heard of DealDash.com? If you are into penny auction then in all probability you know of this site. This is very famous and popular site for penny auctions. A good number of people across the country use this site in order to win amazing deals. The site has a wide database of users many of which have extensive experience of penny auctions. Penny auctions work on the premise that a great, irresistible deal is posted by the site owners. The auction for winning this deal now starts. Now the bidders enter into a bidding war wherein they place bids looking to outbid the others. Each time a person wishes to place a bid he pays a small amount to the tune of 50 cents or so. As against the normal auctions, here the price of the deal remains fixed but the bidders bid against each other trying to be the last bidder. This continues until the time runs out. The one who bid last before the deadline for an auction was reached wins the deal and can then make the full payment for the deal item. The loser ends up losing all the money he used for placing the bids. You can read full article here for more details.
The penny auction is a great place to win dirt cheap merchandise but it is also be a place where several people looking for great bargains end up losing lots of money. When the money is lost they try to win the next auction and then the next in the hopes of recovering their losses. However, the sad part is that only the most experienced users are ones who can win at this game of odds. So it makes sense for the average user to check out the site thoroughly and to have a reality check as to whether they can afford to lose any money and if they’d be any good at this game.