Saturday, December 10, 2011

Why Penny Auctions Don't Always Deliver a Bargain

When you're looking online for electronic products at bargain prices, you've almost certainly come across those penny auctions ads that seem to offer unbelievable value -- like your favorite laptop or camera for just $20 or $30.

But there's a catch. In order to buy at that price, you have to win the auction. And in order to win the auction you have to pay to bid. If you don't win, you lost the money you laid out for each bid you made.

That, says the Federal Trades Commission (FTC), makes penny auctions more like lotteries than regular auction sites.

Click here to read the full article. 

©Copyright Audri and Jim Lanford. All rights reserved.
Reprinted with permission.
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