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Benefits and drawbacks of worldwide Penny Auctions

As global penny auctions grow in popularity, one cannot but stop and think - could it be good for me, like a bidder? Sure, it seems it is a good idea for that site because it are now able to get in touch with bidders all over the world without having a critical mass of bidders in each country. But how about bidders? How good is it?

Here, by global penny auctions, I am talking about those sites where people all around the globe compete on the same auctions. This means if there is a gift card that I am bidding on, chances are, the other bidder I am competing against is from a different country and time zone as me.

Pros
The largest benefit of global penny auctions is it helps you with number of products. This is achieved in 2 distinct ways. One, there are certain items that are popular in the US and not the united kingdom or Australia and the other way around. Which means you get to pick and invest in auctions that you wouldn't normally see inside your country. This sure is exciting.

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Secondly, bidders see more auctions throughout the day because now people from different time-zones are competing. This is actually a good deal for a lot of bidders that do not get to bid during the peak product times, like afternoon (because you will work) and instead wish to bid at night when there aren't enough products. Yes, it is a fact, almost all penny auctions have fewer auctions during the night.

Cons
Of course it is not all a bed of roses. Occasionally you won't want to be bidding globally. One immediate concern is related to competition. Will the penny auction scale up the quantity of auctions compared towards the quantity of bidders who've now increased? The answer of course depends on the website however the usual response is no. What this means is more competition due to increased bidders on same quantity of slightly increased quantity of auctions.

Global bidding may also render some bidding strategies obsolete. This would mean bidders need to reevaluate everything, especially strategies according to best bidding times.

It's really exciting to become bidding against people all over the world, but simultaneously you should never forget why you are on the site - to win! Some penny auctions can pull it off well yet others cannot. BidRivals, typically the most popular site at one point of time throughout Europe is struggling today with significantly fewer auctions and bidders than at its peak.