Are Online Penny Auction Sites Friend or Foe?

BBB (Better Business Bureau) has warned online Penny Auction users that they must do an extensive research on a Penny Auction site before placing any bids on the auctions.  BBB (Better Business Bureau) has wrote/issued warnings in many of their post on the website after getting complaints from consumers using Online Penny Auction sites. The majors complains among the several that BBB has received are that most of the users have complained that the Penny Auctions sites are using BOTS or SHILL BIDDING to drive up the price. It means that they are using fake bidders and a user will lose their money. The second major concern is that the credit card is being charged automatically without the User’s permission/knowledge/consent.  Others complains which BBB has received in abundant are like facing difficulties while solving the issues with the Penny Auction company. In getting refunds from the company.

We even on PennyAuctionInfo.com received several complains like the item that they received was broken or old or Item was not as described on the site.

BBB has advised Penny Auction users that before they enter into bidding on any auction site, they must keep ready and go through the following checklist:

1. Check whether the Auction site is accredited by BBB. Not every penny auction site is accredited by BBB.

2. Before you register, make sure you read the print carefully. You must read the Terms and Condition, privacy policy, etc.. You must also check whether the site set a “RESERVE PRICE” on auctions.  Pay close attention to details on registration page and annual charges, minimum bidding requirements, maximum prize amounts and how to get a refund.

3. Before making bid on an item, check the cost of the item in the open market. It could be possible that you may spend more while bidding than the actual cost of the item.

4. Closely monitor your credit card statement for any discrepancies. As Many consumers have reported that they have been charged an annual fees or they have been automatically charged for a bid package even though they didn’t purchase it.

5. Complain to BBB if you have any issue with the Penny Auction site. Here is the link to initiate the complain:

http://www.bbb.org/us/Consumer-Complaints/

Click here to know Tips on how to staying safe while shopping or purchasing online: Tips Shopping Online

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