A couple of months ago, a whole new Internet buzz begun.
The buzz was online penny auction sites.
These sites do not operate like the traditional auction sites you and I know of such as eBay where, you place bids as many times as you want to, and the bidder with the highest bid at the end of the auction, walks away with the item for that final bid amount.
All this changed when sites like Beezid came onto the scene.
The following are the basics of Entertainment shopping auctions such as Beezid: •You begin by registering on the shopping auction site.
Registration is usually a two step process where you input your details and then confirm your email address.
The registration process is usually free and in the case of the example we are using, you can register directly from Facebook Connect.
•After registration, you load your account with bids.
Beezid refers to them as Bidpacks and come in packs of 30, 50, 100, 200, 350 & 500.
The cost of the bids ranges from $0.
60 to $0.
90 per bid.
•Once you have registered and purchased bid packs you then bid on the product of your choice.
Usually each bid increases the final cost of the product by a given amount.
Most sites set this at between 1 cent and 15 cents per bid placed.
Beezid increases the cost of each bid by a penny hence the name, "penny auctions".
Every time you place a bid, you lose one pre-purchased bid - automatically deducted from your account.
•Each auction has a countdown timer and each time a new bid is placed, the countdown timer resets.
Beezid's countdown timer resets by 20 seconds.
When the countdown timer runs out without someone having placed a bid, the last person to bid wins the auction and walks away with the product, usually at a massive discount to its retail value.
The winning bidder pays for the product and it is shipped to their home or office.
The losing bidders lose the money they spent in placing bids.
In addition to the normal auctions as described above, these sites also provide special auctions which do not operate in a typical manner.
For example, Beezid offers a special auction known as a reveal auction.
Reveal auctions work on a descending price scale and include the option to buy the item once the price reaches a predetermined low.
Unlike penny auctions, the price of an item is initially hidden.
Instead of bidding, interested buyers click on a "reveal" button to reveal the price of the product.
Each click costs a single bid.
Once the price reaches the predetermined button, a "buy now" button appears which allows anyone to end the auction by buying the item at that price.
If no one does this, the price will continue decreasing until zero and the last person to click on the "reveal" button wins the auction.
If you have recently discovered such sites and are wondering if it is possible to win an auction, you are not alone.
Many people have the mistaken belief that everything is determined by chance.
This, however, is not the case.
To find out how you can win at Beezid, see Beezidpro and learn the strategies top bidders use to win auctions.
The buzz was online penny auction sites.
These sites do not operate like the traditional auction sites you and I know of such as eBay where, you place bids as many times as you want to, and the bidder with the highest bid at the end of the auction, walks away with the item for that final bid amount.
All this changed when sites like Beezid came onto the scene.
The following are the basics of Entertainment shopping auctions such as Beezid: •You begin by registering on the shopping auction site.
Registration is usually a two step process where you input your details and then confirm your email address.
The registration process is usually free and in the case of the example we are using, you can register directly from Facebook Connect.
•After registration, you load your account with bids.
Beezid refers to them as Bidpacks and come in packs of 30, 50, 100, 200, 350 & 500.
The cost of the bids ranges from $0.
60 to $0.
90 per bid.
•Once you have registered and purchased bid packs you then bid on the product of your choice.
Usually each bid increases the final cost of the product by a given amount.
Most sites set this at between 1 cent and 15 cents per bid placed.
Beezid increases the cost of each bid by a penny hence the name, "penny auctions".
Every time you place a bid, you lose one pre-purchased bid - automatically deducted from your account.
•Each auction has a countdown timer and each time a new bid is placed, the countdown timer resets.
Beezid's countdown timer resets by 20 seconds.
When the countdown timer runs out without someone having placed a bid, the last person to bid wins the auction and walks away with the product, usually at a massive discount to its retail value.
The winning bidder pays for the product and it is shipped to their home or office.
The losing bidders lose the money they spent in placing bids.
In addition to the normal auctions as described above, these sites also provide special auctions which do not operate in a typical manner.
For example, Beezid offers a special auction known as a reveal auction.
Reveal auctions work on a descending price scale and include the option to buy the item once the price reaches a predetermined low.
Unlike penny auctions, the price of an item is initially hidden.
Instead of bidding, interested buyers click on a "reveal" button to reveal the price of the product.
Each click costs a single bid.
Once the price reaches the predetermined button, a "buy now" button appears which allows anyone to end the auction by buying the item at that price.
If no one does this, the price will continue decreasing until zero and the last person to click on the "reveal" button wins the auction.
If you have recently discovered such sites and are wondering if it is possible to win an auction, you are not alone.
Many people have the mistaken belief that everything is determined by chance.
This, however, is not the case.
To find out how you can win at Beezid, see Beezidpro and learn the strategies top bidders use to win auctions.