Thread: anyone have fun with penny auctions?

The thing about those penny sites is that you have to actually pay to bid.

Example: You pay $10 for 10 bids. Each bid you place is only a penny but you can only bid 10 times. Then once the auction ends you pay the auction amount that you bid on.

Don't gamble on penny auction sites - USATODAY.com

Originally Posted by Tumbler510

Don't gamble on penny auction sites - USATODAY.com

pretty cool info ..
so basically if they find enough suckers to bid on said item they can make thousands off one item even if it only sells for couple hundred bucks ..
I'm not into site where if you bid in last couple minutes the clock adds 2-5 minutes to give other bidders a chance to re-bid .. IMHO thats bullshit .. When i was a kid and went to auctions , car , jewelry ect.. you bid , you won u paid the price you won it at , now everything is about having a reserve .. Even the local public car auctions i attend now , bank repos allready have a reserve price of what the bank intends to recover from the sale before it wasnt like that ..

Originally Posted by Tumbler510

Don't gamble on penny auction sites - USATODAY.com

Interesting read. Thanks for sharing.

The latest and greatest form of a pyramid scheme... kinda.

Interesting article. Looks like a very high cost venture, but for those that market right, they can make fortunes...by ripping off others of course.

waste of time and money, save your efforts and do it on ebay.

i run a site like this but it is actually legit haha

we have a no loose policy


if the user looses an auction they have 3 options

1-5% cash back

2- 20% refund in bid packages

3- 100% refund in store credit which can be used to acutally buy the item they want

lets say you loose 100 bids on a tv

I will give you $100 towards that TV.

That way it makes it fun for people to try to win but they also don't get screwed if they don't win