Penny Auction Protection Tips

“After being on the boards for nearly a year, I have made many adjustments in my “penny auction” persona. Changed the ways I interact with auctions and definitely changed the way I pay for auctions.”

Here are some penny auction protection tips posted by our member, KSteven7. These are very important tips, thanks KSteven!

  1. Don’t use your real name: Consider your bidding name carefully and avoid using identifying information especially your real full name.
  2. Keep track of what you’re spending: Track your bid purchases, final cost and retail of wins. Be sure you know what your win ratio is.
  3. Dedicated E-mail: Have a separate email address used only for penny auction and do not use your biddername as part of the address. This will allow users to contact you when it is released via Firebug and it may not be a postive experience. Some bidders have threatened or harassed other bidders when they lose an auction.
  4. Social Networking Tip: Don’t mix your personal and penny auctions Twitter account, use separate ones. You may not want someone from the penny auction world to locate you and there are folks that will expect you to get them deals. The same for Facebook. Many sites offer incentives for “sharing” your win info on Twitter and Facebook, but it may not be something you want your friends or co-workers to know about. I get people asking me to “win” them something and they seem to think they should only pay the auction end price and not for expenses and time to win. They don’t seem to understand it is not as quick and easy as they think.
  5. Read the terms and conditions, you may find that your personal information may be shared with affiliates.
  6. Your quality of life should come first! Bills first, penny auction should never take the rent money… Never.. ever.. ever…!

Payment methods:

  • Use one credit card for penny auctions and nothing else, review the online statement frequently for unauthorized charges.
  • Be sure your billing address on the card matches your shipping address.
  • VERY IMPORTANT: Review the chargeback or dispute process before committing to buying bids with the card. A 30 or 60 day dispute period may leave you unprotected for some sites that have long shipping periods.

Photo Credit:

http://www.flickr.com/photos/jenosaur/ / CC BY-NC-ND 2.0

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