How Penny Auctions Pay Big

Apr 11, 2013, 06:16 ET from

LOS ANGELES, April 11, 2013 /PRNewswire-iReach/ -- Penny Auction websites have been in the news a lot lately. In an industry such as the internet and entertainment shopping, it seems almost too good to be true that one can get such amazing deals. And honestly, you'd be wise to second guess anyone who says they can sell you a brand new iMac for just a few dollars or is that true?

Surely the millions of people around the globe who use Penny Auctionssuch as can't all be wrong. So I looked around and what I found may surprise you.

There is one true, fair penny auction company:

So what makes PennyGrab so different that your typical Penny Auctions model? Timers; Or to be more specific, the lack there of. PennyGrab differs from other Penny Auctions in that there is a hidden reserve price.

Instead of competing against others trying to get the lowest price while simultaneously keeping an eye on an artificial timer that is rarely, if ever, correct…  the PennyGrab model allows you to place your credit at any point and once that randomly generated hidden reserve price is matched, the item is won.

There are no timers. There are no bid bots or auto bidders.

So how does this make it safer while saving you money? In Penny Auctions allover the world, because of the timer model, it allows nefarious websites to do what is called "shill bidding". In lay terms, this means that a website will use robots disguised as other bidders that are purely designed to jack up the price if the robot thinks an item isn't selling at a high enough price. In the PennyGrab model, this simply isn't possible as the hidden reserve price is already set and can't be changed. 

But it gets even better. PennyGrab trumps all other penny auctions with their Buy Now feature.

Utilizing Buy Now allows you a second chance at any of their auction items at a substantial savings, even if you don't win said auction.

Here's how it works: Joe bids on a new iPad. He doesn't win, however, he ventures over to the Buy Now page and because the auction has finished, he can now straight out purchase the iPad. The prices of the items in the Buy Now feature drop continuously with each successive credit placed, so the longer a Penny Auction goes on for, the lower the price you will pay for any given item on their Buy Now page.

Yes. It really is this simple to save money.When all is said and done and with the vast experience I have in an industry rife with corruption and trickery; It is so very refreshing to find one company that truly, absolutely does put the customer first. Even before profit. If you're looking for the best penny auction website, keep PennyGrab in mind.

I may wax eloquent, but I believe that once you try PennyGrab, you will wonder what took you so long.

Media Contact: Lee Ryder, PennyTime, 310-972-1195,

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