What's the best penny auction website out there?

That's a somewhat difficult question. There are big well known sites out there like Swoopo. Then there are smaller up and coming penny auction sites like bid4cheaponline.com where the competition is still low and will allow you to win more products. All of the penny auction sites have some kind of differentiator that tries to attract users to their sites. If you are new to penny auction sites, I would recommend trying the smaller sites or go after lower price items. There are people out there that appear to be making a living on these sites by being extremely aggressive. Even though they are aggressive, those people are still getting excellent cheap deals. Most people don't have that characteristc in their DNA so they put in one or two bids and feel like that's all they want to risk.