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pennyauction

Auction fee, also called a pennyauction, is a type of all-pay auction in which all participants must pay a non-refundable fee to place each small incremental bid. The auction ends after a certain period of time, usually ten to twenty seconds, with no new applications; last participant placed a bid wins the item and also pays the final bid price, which may be significantly lower than the retail price of the product. The auctioneer makes money in two ways: the fees for each purchase and payment for the winning bid for the total amount is usually much greater than the value of the item [1] Such auctions are usually conducted via the Internet rather than in person ..

madukbid Due to the possibility of participants spending a lot of money and still lose the auction to end up spending more than the retail price of an item they end up winning, some analysts have criticized the model and compared it with gambling, even if they are not cheating. [5] [6] [7] [8] [9] Better Business Bureau warns consumers, "though not all penalties auction sites are scams, some are being investigated as online gambling. BBB recommends ... I know for sure, how Bidding works, set a limit for yourself, and be prepared to walk away before you go over this limit. " [10] penny auction seller can make a much higher price than the cost of items. [1]

mad uk bid Potential fraudulent practices that may include lack of buyers still shill bidding, where a person or program (BOT) the applicant secretly acting for the seller Betting places that make legitimate contenders to continue trading, where otherwise the auction is over, and just do not send the goods to the prices which, although low, has been paid.

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