Zbiddy is a penny auction site. People can participate in an online auction by placing bids for which they must pay a non-refundable bid. The allotted auction time for each product is extended by the number of bids placed by every participant, a method that proves beneficial to maximise Zbiddy’s own profits through both the auction price and participant’s fee for the bids.

Some of the interesting facts of Zbiddy are:

The website of Zbiddy was started in USA in 2010.

The process of bids as mentioned above continues till the auction time expires and the last person who bids on it is the winner. The price that the last bidder pays is much lesser than the actual cost of the product.

TV channels like Fox and ABC affiliates have been reported to have mentioned Zbiddy or referred to them neutrally, citing it as an example of the growth of penny auction sites.

Online watchdog communities like the BBB and the media have scrutinised Zbiddy and other penny auction sites for their workings and profit making techniques.

Online penny auctioning has often been likened to gambling due to the fact that in spite of spending money on a product, it is likely that you may not win the product.

When placing online bids, it is always wise to check with all hidden costs and the terms and conditions mentioned by the website.

Zbiddy’s auction fee for participants is offered in the form of what is called a bid package. It can be used for a fixed set of auctions. A good auction can get participants very good deals.

Zbiddy also has a large variety of products as compared to many other penny auction sites.

Members who sign up at Zbiddy are eligible for a number of free bids. The site offers medium competition in terms of bidding.

Some products are offered for capped auction, which means that the closing price for those products become limited.

Similarly, there are variable auctions that increase the closing price for each auctioned product at a price that is 1 percent higher.

For those new to the site must go through the different kinds of bidding rules and auction processes to familiarise themselves with each of the types.

Some of the most popular products that have been auctioned at Zbiddy’s site include large flat screen televisions, iPods, iPads, tablets and computers, laptops, Kindle Fires, Magazine subscriptions and a large variety of gift cards.

Shipping rates on Zbiddy which is levied on all products is comparatively high in relation to many other rival penny auction sites.

Many reports have been made on penny auction sites where the deposited fee by participants has disappeared or the site closed down completely without prior notice or explanation. Therefore bidding on penny auction sites have to be done with proper research about the company’s credibility and reputation. They have risks involved similar to that of gambling which is why people must be wary. Sites have proven to be scams while for some others it has also been a successful venture availing them special deals and offers on products.