"Live" or "Reserve" Auctions: Which is Better? - By: Bidcandy.com

With the growing popularity of penny auctions, there have been two camps debating which online bidding system is better – Live or Reserve?

To decide, let’s look at the major difference between the two. In a Live auction, anyone who places the last bid when the timer runs out wins the product, no other strings attached.

But in a Reserve auction, it’s not enough that you get the last bid in; your auction also has to meet the minimum target price before it gets awarded to you. If the target is not hit, then the bid auctions are deemed void and all placed bids returned.

What’s the use of Reserve auctions? Can’t we always have Live auctions?

Our basic comparison shows that the more attractive system for bidders is the Live auction. But even the best online auction sites need Reserve auctions to avoid losing money on big-ticket auctions and closing down for good.

In fact, penny auction scammers take advantage of the misplaced dislike for Reserve auctions. The usual scam is to fill up their website with Live auctions, wait excited bidders to purchase bid packs and win auctions, then close down without delivering any items or refunding unused bids.

So just because a penny auction website is full of Live auctions, doesn’t mean it’s a stable and safe online shopping destination. Conversely, just because a penny auction website has Reserve auctions doesn’t mean that it’s a price gouger.

The best online auction sites I know like BidCandy.com offer both types of auctions to deliver a thrilling and rewarding experience to their shoppers.

How do I choose a Reserve auction?

Not many people believe me, but reserve auctions are just as exciting as Live auctions when done right. First, find Reserve auctions with a reasonable reserve target. Nothing’s more disappointing that to spend a whole day bidding on an item that will become void.

Also check the terms of use of your chosen penny auction website. Make sure it has a provision that when Reserve auctions do not meet their reserve targets, you will be given your bids back. It might seem like common sense but you’ll be surprised at how many get away with omitting this.

Another tip is to use the tools at your disposal. BidCandy.com, for example, offers me a Bid Wizard to automate my bid auctions when I’m not in front of the PC and can help me win marathon Reserve auctions.

What’s the best penny auction site for Reserve auctions?

For me, BidCandy.com is the best penny auction site for Reserve auctions. They set realistic targets and don’t abuse the system. Basically, they keep the Reserve auctions for special, high-ticket items that everyone will bid on and even tag on bonus rewards for the winner.

About the Author

BidCandy.com, the best penny auction site on the Net, hosts penny auctions online featuring brand name products, such Sony 3D TVs, MacBooks, iPads, iPhones and much more. Membership is free! Sign up and get five free bids!

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