How to Use New Auction Sites to Nab Must-Have Merchandise for up to 95% Off Retail
Have you ever heard of "Penny Auctions?"
They’re a new online auction model that is becoming hugely popular. Penny auctions allow individuals to do just what the name implies--buy new, popular products for just pennies on the dollar.
One of the most interesting and successful companies offering penny auctions is called QuiBids. This Oklahoma based company auctions off brand new products such as iPads, Macbooks, HDTVs, Digital Cameras, Gaming Consoles, and more for steep discounts, often as much as 85 percent off their retail price.
So, how do they do it? In the case of QuiBids, it’s quite simple. You see, whenever a prospective buyer places a bid for an item on QuiBids, the company collects a small fee. This fee is really inconsequential to the bidder, but based on the volume of sales and bids, the company is able to collect a substantial amount. This revenue allows the QuiBids to sell these expensive products to the winning bidders, even if their bid is only a tiny fraction of the value of the product.
Savvy bidders have recently been able to buy a brand new Apple Macbook Pro for $23.90, a Nikon D90 Camera for $45.84, and Sony Playstation 3 for $12.32. On average, buyers pay just 25 percent of retail for items they win in auction on QuiBids.
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