Penny auctions seem to be a great way to purchase items for very low prices.
But as with all amazing deals you have to wonder if these auctions are really fair.
This is the question but first you need to understand what a penny auction is.
What Is A Penny Auction? A penny auction is an auction where every bid raises the price of the item up for bid by one cent.
Bids must be bought so you will be paying more than one additional cent when you make a bid.
You will also be paying whatever a site charges you to make that bid.
And you are only making a bid so you may not even win.
You may get an amazing deal or you may end up paying for bids, using them, and walking away empty-handed.
This is why some people call the fairness of penny auctions into question.
What Could Be Unfair About Countdown Auctions? Some think that the concept of a penny auction is unfair.
You could pay for bids and still not win.
People do not like paying something for nothing.
And some of these auction sites are scams.
Some have employees or bots that bid on auctions to keep the price going higher and to keep people spending their bids trying to win, making them spend more just so the site will make more money.
Occasionally you will even find sites where the items are not even delivered to the winner but this, hopefully, is the exception.
So Are They Fair? You cannot really judge all auctions.
Some have different rules.
You could walk away with nothing after spending money on bids but you should know that going in.
That makes it sound unfair but you have a choice of whether or not to take the risk.
Some sites are clearly unfair when they arrange for fake bids to be placed to keep auctions going.
Are countdown or penny auctions fair? Sometimes they are and sometimes they are not.
Just be ready to lose money even if you do not win prizes.