Penny Wise BookStudio JWAL founder Joshua Waldron has just designed a striking, modern website for a book he co-authored about online penny auctions, a growing e-commerce sector.

The book, Penny Wise: The Complete Guide to Saving Money with Online Penny Auctions is the first comprehensive handbook for bidders.

Online penny auctions have exploded across the internet. The new way to get everything from gift cards to laptops offers successful buyers unbelievable values – literally pennies on the dollar. But a great deal of confusion surrounds how these auctions work and whether or not bidders can do as well as advertised.

Enter Penny Wise.

Joshua discovered penny auctions in the summer of 2009. After watching, playing, winning, and losing, he gained valuable bidding experience and began to recognize the strategies that successful bidders employ. Sensing a great need for a book on penny auctions, he contacted Ken Knelly, a former journalist, friend, and owner of Clearberries. The two co-authored this authoritative penny auction guide.

Inside, the chapters examine:

  •     Origins of the penny auction industry
  •     The unique business model behind the sites
  •     Basic fundamentals and various auction formats
  •     Ways to know when to bid (and when not to)
  •     Tactics in developing an online identity
  •     Methods of tracking your success
  •     Ways to recognize red flags and problem sites
  •     Monetizing your wins
  •     Starting your own website

Learn more about pennywisethebook.com.

Penny auctions are taking the internet by storm and the PennyAuctionList.com, a site designed by Studio JWAL, helps consumers understand the penny auction business model before purchasing bids or participating on a fraudulent website. Key website features include a carefully-filtered penny auction directory, tips, strategies and exclusive bidder interviews.

Penny auctions are different from traditional auctions. Users have to purchase bids in order to participate. Purchased bids are often non-refundable and can cost anywhere from .50 to $1, depending on the penny auction site. Commonly auctioned items include high-end electronics, household goods and gift cards.

As the name implies, each penny auction starts at 1 cent. As time ticks down, users bid on the auction and the price increases in 1 cent increments. Each additional bid adds more time to the clock. More importantly, every bid being place in the auction costs money. The last person to place a bid on the auction when time expires is the winner. The winner is responsible to pay the final auction price and any applicable shipping charges. Winners often save 75%-90% off retail.

This new business model has contributed to the rise of some less than ethical penny auctions. PennyAuctionList.com is unique compared to other penny auction directories because it only promotes sites that have a proven commitment to customer service. The Penny Auction List allows bidders to post unfiltered reviews for penny auctions and regulate this new industry through their feedback.

In addition to an industry-leading directory of penny auctions, the website also provides a database of tips and strategy for penny auction success.

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