Penny auctions are interesting. You buy bids and bid on items. If you are lucky, you can pick up some cool things for very low prices. Be careful because you don't want to buy too many bids and overspend. It took me awhile to figure out the site, but I caught on quickly. The penny auction sites earn money from all the bids made on their auction sites. The bids are worth money because you have to buy them from the auction site. Some penny auction sites give you some bids when you join their site, so you can learn the ropes.
I bid on a few auctions and lost all of them. It was frustrating, but I learned the ropes. I had to bid last and hope nobody bid in the thirty seconds that was added on to the time of the auction after I bid. Penny auctions are different than eBay or other online auctions. The purpose is to pick up a cool gift at a great price. It took me awhile, but I finally won an iPod on the penny auction site. I received the iPod in the mail and now I enjoy listening to music every day. I wonder what I will win next.
disclaimer: I am participating in a blogger campaign by Bucks2Blog for penny auctions and was compensated. However, the views and opinions are my own.