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Penny Auctions
Topic Started: May 8 2011, 10:16 PM (399 Views)
SCScanlan
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Does anybody here do this? I know one person who loves them but other than that don't know anybody who's been on a penny acution site.
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Jesusthe3dgame
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they're scams
website: thisbethesite.com twitter: @ithinksocially
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SCScanlan
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SteveNeville
May 8 2011, 10:21 PM
they're scams
I've heard that too, but one co-worker absolutely loves them and says his mom's into them too. I thought maybe I was missing the boat.
Edited by SCScanlan, May 8 2011, 10:58 PM.
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sdcpro
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The point behind penny auctions is that they charge each time you place a bid. One of the sites I visited was charging $.60 a bid, rather high priced since the bids only go up by a penny. Each auction also gets a few second boost before ending within the last minute if a bid is placed. Needless to say, it's to encourage more people to bid.

It's not a scam, they certainly make their money on them.
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Jesusthe3dgame
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Plus, they have bid bots. If an item isn't getting real bids, they have bots that bet against you. How that is not illegal....I do not know...
website: thisbethesite.com twitter: @ithinksocially
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