Penny Auctions

Squilly · Jan 15, 2013, 10:19 AM

Has anyone here ever had any luck with penny auction sites? It's obvious that everyone thinks they're scams (no, I'm not hired by any of the sites) but if you do do your research to see what the item sold for previously, your chances are greater, right? Has anyone here actually won? I'm looking at one right now. There's a guarantee that if you spend $100 (I think), you're guaranteed to win something. It really is a smart business strategy if you think about it. But my main question - has anyone here won anything with them?

ThisIsNotMe · Jan 15, 2013, 05:09 PM

Those websites make a KILLING.

Each "penny" bid is $1.
$50 Amazon gift card for $1.57
Meaning company had revenue of $157 on the item or profit of $107.

Crazy.

ucfgrad93 · Jan 15, 2013, 06:35 PM

I think that they are a rip off.

turtle777 · Jan 15, 2013, 07:48 PM

It's another idiot tax.

-t

Squilly · Jan 15, 2013, 08:00 PM

I know they make hefty profits, but the ones that guarantee a win with $120, for say, an iPad or Mac is worth it.

turtle777 · Jan 15, 2013, 08:03 PM

Quote:

Originally Posted by Squilly

I know they make hefty profits, but the ones that guarantee a win with $120, for say, an iPad or Mac is worth it.

There is no possible way they could scam you.

Seriously, are you that gullible ? Do you really think their business model is to guarantee you a $120 iPad ?

-t

mobilehaathi · Jan 15, 2013, 08:04 PM

Quote:

Originally Posted by Squilly

I know they make hefty profits, but the ones that guarantee a win with $120, for say, an iPad or Mac is worth it.

Too Good To Be True™

mscriv · 09:15 PM

Quote:

Originally Posted by Squilly

I know they make hefty profits, but the ones that guarantee a win with $120, for say, an iPad or Mac is worth it.

I've never heard of anyone who actually got a deal on these sites. However, you seem pretty confident you can do it. So, I say go for it. After you can report back to all of us how you did.

leftywamumonkey · Jan 15, 2013, 09:08 PM

Quote:

Originally Posted by ThisIsNotMe

Those websites make a KILLING.

Each "penny" bid is $1.
$50 Amazon gift card for $1.57
Meaning company had revenue of $157 on the item or profit of $107.

Crazy.

Each bid is $0.60 on QuiBids.

Squilly · Jan 15, 2013, 09:15 PM

Quote:

Originally Posted by leftywamumonkey

Each bid is $0.60 on QuiBids.

$.60 on Zbiddy.com too.

mobilehaathi · Jan 15, 2013, 09:36 PM

Quote:

Originally Posted by Squilly

There's a guarantee that if you spend $100 (I think), you're guaranteed to win something.

I'll guarantee you something for $50.

Jan 15, 2013, 10:19 AM	#1
Squilly In Time-Out Join Date: Nov 2012 Location: PA	Penny Auctions Has anyone here ever had any luck with penny auction sites? It's obvious that everyone thinks they're scams (no, I'm not hired by any of the sites) but if you do do your research to see what the item sold for previously, your chances are greater, right? Has anyone here actually won? I'm looking at one right now. There's a guarantee that if you spend $100 (I think), you're guaranteed to win something. It really is a smart business strategy if you think about it. But my main question - has anyone here won anything with them?
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Jan 15, 2013, 05:09 PM	#2
ThisIsNotMe macrumors 6502a Join Date: Aug 2008	Those websites make a KILLING. Each "penny" bid is $1. $50 Amazon gift card for $1.57 Meaning company had revenue of $157 on the item or profit of $107. Crazy.
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Jan 15, 2013, 06:35 PM	#3
ucfgrad93 macrumors G4 Join Date: Aug 2007 Location: Colorado	I think that they are a rip off.
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Jan 15, 2013, 07:48 PM	#4
turtle777 macrumors 6502 Join Date: Apr 2004	It's another idiot tax. -t
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Jan 15, 2013, 08:00 PM	#5
Squilly Thread Starter In Time-Out Join Date: Nov 2012 Location: PA	I know they make hefty profits, but the ones that guarantee a win with $120, for say, an iPad or Mac is worth it.
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