Penny auction websites can be a low cost way of finding the item a person is looking for at a great price. Penny auction websites offer a huge variety of items starting at just one cent. People are often able to buy items from a penny auction website for just a penny. Penny auction websites typically sell bids in a block of prices allowing the bidder to decide how much they are willing to pay for the item when they place their first bid. Many people have been able to find great deals at one of these penny auction websites allowing them to purchase items for a mere fraction of the retail cost.