There are many penny auction websites and most of them follow the same working process. They are different in terms of their rules, features and cost. You can choose penny auctions free bids for registering the items you want to buy online. In the process of the penny auction you bid on the items till the highest bid is done for the item. You simply have to click on the bid button on the web page. Most of the auctions are time bound so in that case, at the end of the time the highest bidder wins and claims the item. In online penny auctions it is common that the bid increases by just a penny or two. Therefore, the items can be bought at the lowest price from the online auctions.