Consumer News

Online Shoppers Are Sold On Penny Auctions

Posted: 9/7/2010

Online Shoppers Are Sold On Penny Auctions

(NAPSI) - Bargain shopping just got a whole lot easier. Now, online auction sites allow visitors to bid on coveted items for pennies, literally. Whether it's a new laptop or gift cards to a favorite retailer, penny auctions are growing in popularity as both an entertaining and valuable online alternative.

Penny auction bidding is a competitive shopping experience that offers bidders an opportunity to make purchases at deep discounts. Users prepurchase packs of "bids" in various amounts, which function as their pot when bidding. With each bid placed, the auction price increases by only one cent.

One leading penny auction site, BidCactus.com, has already auctioned off more than 90,000 high-ticket items, including a new 40-inch LCD TV, which sold for $4.14, and a $100 Walmart gift card, which sold for 49 cents. Shoppers can even vote on what item they want to see auctioned off next.

The website, the first and only penny auction site to be accredited with the Better Business Bureau, recently passed the AT-101, Attestation Standards, of the American Institute of Certified Public Accounts by Ernst & Young. This distinction gives players the assurance that every bid with BidCactus.com is both fair and honest.

The site runs 24 hours a day, with live customer support available during business hours at (800) BID-8711. For more information, visit www.BidCactus.com.