When you find a new penny auction site be sure to read all terms & conditions and look everything over carefully before bidding.
Be on the look out for:
- Cost and terms of shipping, is this even disclosed?
- Terms of payment: Paypal, check, money order, major credit card.
- Purchase: If you have to pay the final bid price along with the cost of your bids spent
- Transparency: Are ended auctions displayed?
- Any additional fees: Some sites even charge a processing fee for paying, I noticed this with CentSeller.
- Limits: Per address, per person. Many penny auctions have limits on how many you can win, a day, a week, a month, etc. Make sure you know before you register. On some sites your account becomes deactivated and you cannot bid more once you reach your limit, but on others you have to know or else you can spend a lot and forfeit your win.
Thank you for reading and, as always, remember to use your own discretion and do some research when bidding on penny auctions.
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CentSeller October 18, 2009, 12:51 pm
Response from CentSeller about fees.
On CentSeller there is only one fee and it is applied only when you withdraw you credits. It means that if you have credits on CentSeller account and you want to transfer it to PAYPAL or to your bank account then we take these fees.
There are no delivery fees on CentSeller and no payment fees. There are no other or hidden fees.