Hello Nairaland

Penny auction is quite popular in most parts of the world but it's very new in Nigeria. It's a form of bidding system where the website owner post items and you pay or bid for them.

Most time the price of the items usually starts at zero and each bid bumps the price of the item up a penny. Each bid also adds time – from 10 seconds to 2 minutes – to a countdown clock.

The goal is to be the high bidder when the clock runs out. In Nigeria Kobobid is one of the few penny auction that allows you to bid on items and purchase at a low price.

Many people assume Penny auction system is a scam or Ponzi scheme but it's not. It's more like a lottery where you place a certain a amount on an item and the last person.

So I'll like to know what you think about Penny auction bidding in Nigeria. Do you think it's real or not?

Cc lalasticlala , RoyalRoy

Used to doubt it but I logged into Kokobid website yesterday and it changed my mind. I registered and I will bid soon

it took too long sef. There should have been an auction site in Nigeria 10yrs ago. The success of kobobid will bring more players into the sector

This is something that would work in Nigeria. Finally! One don't need to break the bank to get stuffs.

We are quick to label something we don't understand as scam. Ebay is a success story in the Penny auction industry. But the question is, will Kobobid become just as big?

I think it's just like every other auction system, it's just not physical and is carried out online.

See I heard of Kobobid, I have been intrigued been on the website since morning lol

I’m really interested on this kobobid bidding. I’m just waiting for 8pm so I can start bidding, I want to win that AC that was listed there on the Auctions page

I've been seeing this bidding thing on different platforms now, seems to be a new trend, well na to jump on am benefit now before people choke.

To be very honest at first I was skeptical, but still registered to observe the system, long story short today I'm now a kobobidder.

AlmaIganishire:
See I heard of Kobobid, I have been intrigued been on the website since morning lol

I ve been a critic to this auction bid o, I spent the whole of yesterday night on the site looking for an excuse, only to find myself bidding since this afternoon.

I must say it's fun, and also addictive like bet9ja, and I'm looking forward to 8pm tonight so I can start bidding on the AC Split unit.

I think it's cool, and a very good way to land goods at a cheap rate