As with many things that are online, penny auctions can be misunderstood. To those who don't take the time to look into what the auctions are about, penny auctions can be seen to be just another vice in the world, something to tempt people with. People must accept that sometimes they are to blame for losing their money, not the auction site.
Negative views breed common misconceptions that a lot of penny auction sites really do not deserve. The majority of these sites are there to entertain people and help them afford products that otherwise they could never buy. One of the worst misconceptions about penny auction sites is that they are illegal and out to get all your money.
This is not the case - it is up to you to make sure that the site you are accessing has the proper terms and conditions. Penny auction sites are more often than not fully upfront with what their services are and how you can participate and what your participation is going to cost you. The sites don't need to con you; they make enough money from the sheer number of bids that are made on each auction.
Another common misconception is that no one ever wins anything on a penny auction; this is simply not true either. Indeed, there are many people who have ended up with a gadget of sorts for half or more of the cost it would normally have cost them at retail price. What bidders must remember is to 'bid clever'. You should just follow the auction and make your bid when it's right for you.
Some have the misconception that there must be something untoward going on if the sites can afford to sell off all sorts of amazing items for so little, but again be assured, they make their money in a legitimate manner from the many bidders on each item. Sometimes the sites just can't win people round, for some people also complain that the deals are just too good to be true!
One of the most harmful misconceptions is when people say that the site will not deliver the items to the winners of the auctions, or if they do, items will be in bad condition. It makes no sense for this to be true, these sites want to get repeat business and will not get it if they treat their customers in this manner.
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