If you have come here, you without doubt possess some concept of exactly what penny auctions are, we provide you with some information on how they work and the general concept.
Many people make their first mistake in thinking that PennyGrab auctions are the same as Ebay auctions or like other penny auctions with a countdown timer. This could not be further away from the reality.
Actually, really the only factor in keeping is they both make reference to themselves as, "auctions".
First let us discuss how eBay or other mainstream auctions work. On eBay many products are listed by people, small to large big box companies typically selling products at a reduced cost. They may be new, refurbished or OEM parts. The bidder reaches place as many bids they want without a bidding fee and when those are the final and top bidder once the clock expires, won by you for that cost you mentioned, plus shipping cost. Appears pretty easy and there's hardly any risk into it.
Penny Auctions are different. The products and gift cards available are always new and shipped directly from the auction company. The price is increased one penny at time. For example you may find a $500.00 gift card auction selling for just $12.00 the notable difference, it cost money to place a bid.
Unlike eBay, here you have to purchase PennyGrab credits to bid - credits cost fifty cents per bid. For example all our auctions end when the randomly generated number is reached, which we call the "Deal Price".
Other penny auction sites have countdown timer that counts down consecutively until it gets below twenty (20) seconds. From that point on, the timer will reset to fifteen (15) seconds every time a bid is placed, thereby giving other users the chance to compete and bid again.
Why PennyGrab and not the other guys, it's simply put that PennyGrab has no automated user bots and not shill bidding, all of our auctions have randomly generated numbers, and that's why our auctions are, "random reserve penny auctions". This is a unique PennyGrab auctions model and this is what separates us from the competition!
PennyGrab is an entertainment auction site model, we thrive to bring you the hottest products , fun games and have a great time winning them on our auction site.
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Beginner Daily Deal
This Daily Deal is for beginners with less than 2 wins.
Intermediate Daily Deal
This Daily Deal is for intermediates with less than 5 wins.
Blitz Grab Deal
This Daily Deal allows you to lock out other bidders and place multiple bids of your own by using Blitz.
Expert Daily Deal
This Daily Deal is for Experts, does not have the Buy Now option and uses Bonus Credits first
FireGrab Timer Reset
This is the amount of time that is added to the clock when a bid is placed within the final 10 or 15 seconds of a Fire Grab Deal.
This Deal contains a "Bonus Play" that lets you play one of PennyGrab newest games that gives you a great chance to win extra bonus credits.
This Deal contains a "Board Play" that lets you play PennyGrab's Penny Board game giving you a great chance to win free prizes.
This is a featured auction on PennyGrab.
Daily Deal Price
This auction will end when the price reaches the hidden reserve price that is somewhere within the specified range for this deal.
A total of 7 "Buy Now" purchases per day are allowed