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Old Jan 15, 2013, 10:19 AM   #1
Squilly
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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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Old Jan 15, 2013, 05:09 PM   #2
ThisIsNotMe
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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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Old Jan 15, 2013, 06:35 PM   #3
ucfgrad93
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I think that they are a rip off.
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Old Jan 15, 2013, 07:48 PM   #4
turtle777
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It's another idiot tax.

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Old Jan 15, 2013, 08:00 PM   #5
Squilly
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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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Old Jan 15, 2013, 08:03 PM   #6
turtle777
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Quote:
Originally Posted by Squilly View Post
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
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Old Jan 15, 2013, 08:04 PM   #7
mobilehaathi
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Quote:
Originally Posted by Squilly View Post
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™
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Old Jan 15, 2013, 09:08 PM   #8
leftywamumonkey
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Quote:
Originally Posted by ThisIsNotMe View Post
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.
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Old Jan 15, 2013, 09:15 PM   #9
Squilly
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Originally Posted by leftywamumonkey View Post
Each bid is $0.60 on QuiBids.
$.60 on Zbiddy.com too.
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Old Jan 15, 2013, 09:36 PM   #10
mobilehaathi
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Quote:
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There's a guarantee that if you spend $100 (I think), you're guaranteed to win something.
I'll guarantee you something for $50.
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The true way is along a rope that is not spanned high in the air, but only just above the ground. It seems intended more to cause stumbling than to be walked along.
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Old Jan 16, 2013, 01:58 PM   #11
mscriv
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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.
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Last edited by mscriv; Jan 16, 2013 at 09:15 PM.
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Old Jan 16, 2013, 02:39 PM   #12
stonyc
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Quote:
Originally Posted by mscriv View Post
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 it. After you can report back to all of us how you did.
Surely, OP will deliver...
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