About four months ago, a whole new fad started. What was this fad? Entertainment shopping auction sites. These sites are not like the traditional auction sites like eBay where, you bid as many times as you like, and the person with the highest bid at the end, walks away with the product for that final bid price. This changed when sites like Swoopo stepped in. Here are the basics of Entertainment shopping auctions:
- Bids are purchased before hand. You can purchase any number of bids for a fee. Depending on the actual auction site, this fee ranges from 10 cents to $ 1 per bid.
- You then bid on the product you like. Usually each bid will increase the products final cost by a given amount. Most are between 1 cent and 15 cents per bid placed. Each and every time you bid, you will lose one of your prepurchased bids in your account
- When a new bid is placed, more time is added onto the Auction. Swoopo adds 15 second for every bid, but other sites range in the time increments they add.
- When someone fails to bid by the time the timer runs out, the last person to bid walks away with the product, usually at a major discount to its retail value. The product is then paid for by the winner and shipped to their home or office. The other people who participated int he auction lose the money they paid for their bids, and must try their luck at another auction .
These types of sites, Swoopo, being the first, have really taken off as of late. Because of this, the larger, original Entertainment auction sites seem to provide a bit less of a discount since the competition in bidding is becoming so fierce. This has allowed numerous other Entertainment shopping sites to also enter the industry, meaning a better deal for us bidders.
More details on These types of sites at Entertainment Shopping Sites Explained