06/24/2017: Some incredible deals can come from penny auction sites, but many users have difficulty landing a winning bid. On these penny auction sites, placing a bid costs anywhere from a few cents to a dollar, and each time it increases the price by a few cents and the duration of the auction by a few seconds.
If you are the last bidder when the time runs out, you will win the item for a ridiculously low price. If someone places a bid before the time runs out, you will have to place another bid to snipe the auction back.
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