They’re a new online auction model that is becoming hugely popular. Penny auctions allow individuals to do just what the name implies--buy new, popular products for just pennies on the dollar.
One of the most interesting and successful companies offering penny auctions is called QuiBids. This Oklahoma based company auctions off brand new products such as iPads, Macbooks, HDTVs, Digital Cameras, Gaming Consoles, and more for steep discounts, often as much as 85 percent off their retail price.
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