Cash penny auctions are a variation of the typical model used by most penny auction sites. At popular penny auctions, such as QuiBids.com and HappyBidDay.com, you purchase bids, and use them to compete for brand name products. Depending on the number of bidders, along with how savvy you are with bidding strategies, you could win a high-demand, name brand product for pennies on the dollar. For example, we’ve seen auctions for Apple Macbooks end near $24, and auctions for Kindles end at $2.
Win money penny auctions follow the same basic model. You’ll still need to purchase bids, which are then used to compete in the auctions. But rather than bidding on iPads, microwave ovens, HDTVs, and gold and silver bars, you bid on cash prizes. On this page, we’ll provide more details about cash penny auctions, including where to find them, how they work, and the types of prizes you’re likely to see.
Where To Find Cash Penny Auction Sites
We focus most of our attention on a select group of penny auction sites. We have thoroughly investigated each, and found that they meet all of our standards. You’ll find thorough, detailed reviews of them on this site. Unfortunately, none of them currently offer penny auctions to win money.
HappyBidDay.com – HappyBidDay has no money penny auctions on offer.
QuiBids.com – There are no available cash penny auctions at QuiBids.
Beezid.com – Beezid offers no penny auctions to win money.
BidRivals.com – BidRivals does not currently have win money penny auctions.
BidCactus.com – There are no penny auctions to win cash at BidCactus.
There are a few cash penny auctions that we’ve stumbled upon over the past few years. However, since we have not yet thoroughly reviewed them, we’re unable to vouch for them. These sites include BidOnCash.com, EBid4Cash.com, and CashArena.com.
BidOnCash focuses exclusively on cash prize penny auctions. Each bid costs $1, and when submitted, causes the auction price to increase by $.01. As of this writing, the BidOnCash site is down, which may indicate that it has been shut down.
EBid4Cash is a win money penny auction site based in the UK. Their site too appears to be down at the time of writing. Even if they were up and running, we would recommend that you tread carefully. Awhile back, there were concerns that shill bidding and other types of unprofessional behavior were taking place.
CashArena is among the newer cash penny auction sites. They are currently in operation, and focus entirely on cash prizes. One of the positive things we’ve noticed about CashArena is that they offer promotions for their members. For example, they are currently hosting “Wacky Wednesdays” a promo that gives members an extra 25 percent each Wednesday when they use their Paypal accounts to purchase bids. Bids are sold in packs of various sizes with prices ranging from $.58 to $.70.
Again, use the three cash penny auction sites above at your own risk. We may review them in the future, at which point we’ll decide whether they deserve our recommendation.
How Cash Penny Auctions Work
As noted earlier, penny auctions to win money use the same approach as the auctions you’ll find at QuiBids, HappyBidDay, and other popular sites. Typically, the more bids you purchase, the less you’ll pay per bid. You can submit bids in the auctions to compete for cash prizes in the same way you would compete for iPads, jewelry, notebooks, and golf clubs, at HappyBidDay.
Each auction is accompanied by a timer that starts to count down when someone makes a bid. The timer automatically resets following each subsequent bid. If the timer runs out – for example, after 15 seconds – the last bidder wins the cash prize.
Types Of Cash Items On Offer
Cash prizes range in size from very small to very large. Some cash penny auction sites, such as CashArena, limit the high end of their money packs to $250. Other sites extend much larger prizes. For example, at one time, EBid4Cash hosted auctions offering money packs up to £3,000.
How To Win Money Penny Auctions
If you intend to get involved with penny auctions to win money, keep in mind that the competition may be fierce. When you compete for an iPad, HDTV, or any other item, each bidder values the item differently. The value they place on it is subjective. In contrast, everyone values money in the same way. A $250 money pack is essentially worth the same to each bidder.
This underscores the importance of learning to use smart, proven bidding strategies. Doing so will help to minimize the number of bids you submit for any given cash penny auction while improving your chances of winning. Remember, it is possible to lose money. Bidding successfully involves moving the odds in your favor in every way possible.
If you find that winning cash penny auctions feels out of your league you may want to try winning a gift card then using a service such as Plastic Jungle to convert the card into Paypal. Click here to check out Plastic Jungle before you try this method.
Ultimately, cash penny auction sites are virtually the same as other penny auctions, such as those you’ll find at QuiBids and HappyBidDay. Many of the same guidelines apply. Risk only the amount of money you can lose, but arrive at the auctions ready to compete.