Penny auctions are the best way to make money online for me. You purchase bids in advance for around 60 cents, then everytime you place a bid the price of the auction goes up 1 cent. The items sell for really low prices and the bids cover the price of the product being sold. With a little patience and strategic bidding I can win most items I go for. I originally tried Swoopo and Beezid which worked alright. However, it's better to find lesser known sites like SmartBargainHunters.com for example (it's less than a week old). Lesser known sites have less users competing with each other and driving the prices up . On Smart Bargain Hunters you can usually win without ever using more than 100 bids on one product. 100 bids is equivalent to $60 and most of the products are worth at least twice that. I also tend to bid in the middle of the night when less users are on. Once I win $400 products after spending around $60 I just turn around and sell it for close to retail value on Ebay. Rinse and repeat.
