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| Penny Auctions | |
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| Tweet Topic Started: May 8 2011, 10:16 PM (399 Views) | |
| SCScanlan | May 8 2011, 10:16 PM Post #1 |
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Level 5
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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 | May 8 2011, 10:21 PM Post #2 |
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Level 4
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they're scams |
| website: thisbethesite.com twitter: @ithinksocially | |
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| SCScanlan | May 8 2011, 10:58 PM Post #3 |
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Level 5
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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 | May 9 2011, 01:23 AM Post #4 |
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Level 9
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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 | May 9 2011, 06:08 AM Post #5 |
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Level 4
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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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11:47 AM Jul 13