I had never heard of "Penny auction" is one term, if such an auction, online auction or physical reference. When I saw it in an electronic communication, I decided to check it. I searched the term, and I found some interesting information about the origin of these auctions. It seems that originated in the United States during the Great Depression. They came because the people lost their farms due to the inability of the financial obligations with banks then made to perform.
A little history
History shows that banks property auctions of farmers, which they seized. At the time the actual auction, the neighboring farmers and friends of those who lose their property in the event to participate and would prevent serious offers to do on a lot. In their attempt to help their friend or neighbor, they used every means necessary was to keep the deals for pennies closely. Often companies have been sold and all related property for less than $ 5.00. That seems pretty amazing to me ... $ 5.00 in 1932 had more purchasing power than today, but it was not much to agricultural land, plants and buildings. The banks had to accept the proceeds from the auction to complete payment of the debt. Needless to say that banks, at the time were not happy. You have possibilities, this type of auction found illegal circumvention.
Online auctions Penny Today
This type of auction is still running today, but it has changed a lot. First, it is now legal certainty, and secondly, it is often an online auction. These online auctions can be found on the net, in all countries of the world. The product is sold on it varies quiet. The sites usually have a short lifespan, usually 3 to 5 years.
Benefits
While these pages are full of fraudulent participants, there is legitimate and there are advantages to the buyer for the shares. As a buyer you can make a real business (or steal) on products, especially high tones, there is always the possibility of locating a gem, some buyers have great joy and excitement in the treatment of the global impact of online auctions, and Then there are those buyers who simply enjoy the work of the tender. The best part ... All this can be done with a single click of your computer from your chair or office, or from the seat of an aircraft or with your mobile phone anywhere can.
Online auctions can be fun and profitable to be for many purchases. And remember, there's always a chance that the particular piece for a collection for which you searched long and hard to find. If this is the day that you find online?
