Penny Auctions

Discussion in 'Community Discussion' started by Squilly, Jan 15, 2013.

  1. macrumors 68020

    Squilly

    Joined:
    Nov 17, 2012
    Location:
    PA
    #1
    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?
     
  2. macrumors 68000

    Joined:
    Aug 11, 2008
    #2
    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.
     
  3. macrumors G5

    ucfgrad93

    Joined:
    Aug 17, 2007
    Location:
    Colorado
    #3
    I think that they are a rip off.
     
  4. macrumors 6502a

    Joined:
    Apr 30, 2004
    #4
    It's another idiot tax.

    -t
     
  5. thread starter macrumors 68020

    Squilly

    Joined:
    Nov 17, 2012
    Location:
    PA
    #5
    I know they make hefty profits, but the ones that guarantee a win with $120, for say, an iPad or Mac is worth it.
     
  6. macrumors 6502a

    Joined:
    Apr 30, 2004
    #6
    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
     
  7. macrumors 603

    mobilehaathi

    Joined:
    Aug 19, 2008
    Location:
    The Anthropocene
    #7
    Too Good To Be True™
     
  8. macrumors 6502a

    leftywamumonkey

    Joined:
    Jun 23, 2010
    Location:
    California
    #8
    Each bid is $0.60 on QuiBids.
     
  9. thread starter macrumors 68020

    Squilly

    Joined:
    Nov 17, 2012
    Location:
    PA
    #9
    $.60 on Zbiddy.com too.
     
  10. macrumors 603

    mobilehaathi

    Joined:
    Aug 19, 2008
    Location:
    The Anthropocene
    #10
    I'll guarantee you something for $50.
     
  11. mscriv, Jan 16, 2013
    Last edited: Jan 16, 2013

    macrumors 601

    mscriv

    Joined:
    Aug 14, 2008
    Location:
    Dallas, Texas
    #11
    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.
     
  12. macrumors 65816

    stonyc

    Joined:
    Feb 15, 2005
    Location:
    Michigan
    #12
    Surely, OP will deliver...
     

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