Penny Auction: Instructions on How to Get the Best Bargain

beezid.com reviews - Penny auction sites provide an excellent opportunity to buy diamond rings, gold coins, gift cards, electronic items and other merchandise at as much as 99% off of listed retail prices. Bidding on these auction sites is managed by a fair process. Like traditional auctions, you are not allowed to jump into the fray at the very last moment and outbid others. The bidding on penny sales is a controlled and a well regulated procedure. Each bidder has to follow the rules of the game. The rules vary from one site to another hence it’s better to understand the rules of the site before you start bidding.

beezid.com reviews - In order to bid on merchandise at a penny auction site, one needs to register first. Registration process is very short and doesn’t cost anything. Once the registration is confirmed, the person is allowed to take part in the bidding process. The items for auction are minimally priced probably at zero but the price increases by a certain amount with each bid. In addition, the bidders pay a fixed amount to the site owner each time they place a bid. The price of the auction goods and cost of bidding varies from one site to another. Some sites start bidding from zero, however, others start at $1.

Bid credits are purchased in advance from the site. People are allowed to buy any number of packets. For instance the purchase can be from 10 to 100 bids from the penny auction site, they have selected. It gives people the freedom to bid without the fear of running out of the bidding credits when they are close to winning an item. Bid credit is the amount of money a person has to pay to the site owner for to allow them to bid. Each time a person bids, a fixed amount is deducted from their credit account. This price can also vary from one site to another and an individual could end up paying between 60 cents to $1 dollar per bid.

beezid.com reviews - In the end the winner purchases their chosen item at a price that is typically much less than the listed wholesale price of that particular product. To be successful in penny auctions, the bidders should take certain factors into consideration. First, start bidding on inexpensive items so that you gain some experience. Second, before bidding on the products you desire examine the bidding patterns of seasoned bidders on those particular products. Remember less competition means better chances and more competition indicates a longer wait and decreased chances for victory. Finally add the money you paid in bidding to the price of the product you won. This way you can determine how much money you saved.

stock broker salary - What most people refer to as a stock broker is basically a securities broker. The broker works with clients, which may be individuals, pension funds, or other institutions to buy and sell stocks, mutual funds, and bonds. For his services, the securities broker receives a commission based on the amount of the transaction.


A full service securities broker will work with clients to determine how much they have available to invest and what their goals and needs are. He will usually recommend certain stocks, but get the approval of the client before purchasing them.

Securities brokers are often involved in the IPO, or initial public offering, of a new company or one that has heretofore been privately held. The Securities and Exchange Commission has very strict guidelines for stock that is to be sold to the general public, and the services of a securities broker is often of great benefit in these cases.

When searching for a securities broker, prospective clients should make sure that they are registered with the Financial Industry Regulatory Authority, also known as FINRA. The firm for which they work must also be registered, and the broker must have worked there for a minimum of 4 months as well as pass the Series 7 exam, or the General Securities Registered Representative Exam. Many individual states also require further licensing, such as the Uniform Securities Exam.

Securities brokers who work for a traditional brokerage firm are typically compensated by commission. In the past, some unscrupulous brokers have increased their earnings by “flipping” stocks, or buying and selling more frequently than is needed. Those who work for online discount brokerage firms are usually compensated on a flat salary basis, regardless of the activity in their clients’ portfolios.

A securities broker may specialize in one aspect of investing, such as initial public offerings, mutual funds, or government securities. Or the broker may handle all investment opportunities for the general public. Other brokers work primarily with pension fund investments, real estate investments, or investment banks.

A full service securities broker will take the time to meet with prospective clients to carefully analyze their financial picture. He will recommend investments based on factors such as the length of time until retirement, the amount of liquid assets the client has, and other aspects such as insurance or home equity. Additional services, such as the sales of insurance policies, may be offered by the firm or one of its affiliates.

Securities brokers are subject to various laws and rules passed by the Securities and Exchange Commission. Brokers are required to offer not only a prospectus to clients but also disclose any public information not included in the prospectus that could impact the investment. Insider trading is a criminal offense, and brokers are not the only ones who can be charged.

The SIPC, or Securities Investor Protection Corporation, was designed to protect investors in the event that a securities firm encounters catastrophic financial reversals and must liquidate. The SIPC arranges for claims to be paid from a trust fund, and can borrow is the amount in the trust fund is inadequate.