The High Stakes of Penny Auctions: Good Deals or Big Risk?

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I received an email from Camille at The Ultimate Coupons.com the other day and figured since most of my readers are out to save money, they might be trying online bidding sites. 
Hey WWadell,

Penny auctions look too good to be true, and when not properly researched can be like throwing money down the drain. Our article http://www.ultimatecoupons.com/blog/2011/08/the-high-stakes-of-penny-auctions-good-deals-or-big-risk/ provides tips on how to avoid fraudulent online deals AlmostExtremeCoupon readers might appreciate.

Feel free to post and share if you like.

Thanks!
Camille
For online shoppers looking to combine bargain hunting with a lottery-like twist, penny auctions can bring some excitement to the search for deals. According to officials penny auctions are quickly gaining popularity because they give consumers a chance to win quality merchandise at a discounted price. But several offices of the Better Business Bureau are sending out warnings about this shopping method. Before you start bidding in a penny auction consider these tips.
Purchasing Bids is No Guarantee
This isn't like eBay where you put in a set bid on an item and the person with the highest bid wins. Instead, you purchase bids for a small amount of money like a penny, a quarter or a dollar. You can spend as much money as you want buying bids, but buying bids doesn't guarantee you'll end up with a product. Buying bids simply gives you the opportunity to get in on the action. But the person who happens to put in the last bid when the time runs out is the one who will walk away with the merchandise.

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