ArrowOutlet.com is a new penny auction site. A penny auction, if you haven’t heard of one before, is a type of auction where you purchase bids – priced at $.50 each at Arrow Outlet – to use in attempt to win brand new, popular items at extremely discounted prices.
Unlike regular auctions, you are not given the ability to bid your own price. Instead, you simply make a bid, which raises the “cost” of the item by a few cents. Once the clock has run out and someone has won the auction, the winner must pay the final price of the item, despite whatever costs they have already paid in