I've heard of penny auction sites before, but honestly, I had no idea what they were all about. I knew you could get great products at discounted prices, but that was basically all I knew. I decided to do a little research, and now I kind of know what goes on on these sites.
There is one auction site called DealDash. What is DealDash? In a nutshell, you bid on the product you want, and if your bid was the last bid before time runs out, you get said product for whatever price you bid. On this site, each bid costs $.60, which raises the price of the actual bid by $.01. I guess they make their money off of everyone bidding, which is how they can sell the products at such discounted prices. DealDash also offers free shipping, which saves you even more money. There is nothing I hate more than finding a good deal online only to have to pay an outrageous amount of money for shipping.
You can read DealDash Customer Reviews and decide for yourself if it's something you are interested in. If you decide to bid on something, make sure you come back and let me know if you win it!