Been
watching TV these past few days and saw ads for two
'penny auctions.' Beezid.com and snaglo.com
These are auctions where you can
'win' items dirt cheap. Stay away from these. You can
lose a lot of money buying bids. On these sites you buy
bids for something between .40 and .80 and place your
bids for the items that you want.
For instance. the IPAD retails for
$899 (on one of the sites) and I have seen a winning bid
of around $27.00. Bids are incremented by .01 every time
a bid is placed. So that means that 2700 bids were
placed at a cost of around .60 +or- each. The auction
site has made $1620 for the item which normally sells
for $899. Just an example. Their profit margins are much
higher on many items.
There are perhaps dozens of people
making bids at the same time and quite often, there are
schills or company employees bidding the items up.
However, there are indeed people out there getting
fantastic prices on these auctions and they will all
claim how great it is. How about those that buy
hundreds upon hundreds of dollars in bids and win
nothing.
If you are able to figure out a
technique, you can get a good deal. However, there are
people dumping a lot of money attempting to win the
auctions and it becomes addicting to them.
I did some research and found that
there are many penny auctions out there. Here is a link
to a listing of them and their traffic numbers and
rankings.
http://www.pennyauctiontraffic.com/
I checked several at the top and
at the bottom of the list and was wondering which one's
use bidding schills or are dishonest (note: they are all
basically dishonest and are scamming people using
deceitful tactics)
The bidding amounts in the one's
with the most traffic are in the $5-15 range. Many at
the bottom have bids in the $25-30 range and by looking
at the chart (link above), the traffic flow is not
anywhere as close as the one's at the top, so there is
hanky panky with the bidding.
Here is a board where people have
responded about penny auctions and described their
experiences.
http://www.pennyauctionwatch.com/2009/11/beezid/
Here are some of the more-visited
penny auctions:
http://www.quibids.com/
http://www.beezid.com/
http://www.snaglo.com/auctions
I did some searching and found
that you can get Penny Auction Software:
http://www.phppennyauction.com/register/
That means that you can set up
your own site. That would be of interest to me but not
sure on how to get an ample supply of merchandise.
Another thing I would worry about would be getting
enough suckers, I mean traffic flow to bid on the stuff.
Gosh, if you don't get enough bidders than you are
headed for the poorhouse (that's located just a short
ways from my place)
Has anybody around here had
experience on the auctions? Beginning to see a lot of
ads on TV.
Here's more info on the evils of
these Penny Auctions. I describe it as a 'random game of
chance' and I highly recommend that people stay away
from it. Go to the casino's if you want to gamble; you
really do stand a better chance of coming out ahead.
http://www.codinghorror.com/blog/2009/05/penny-auctions-theyre-gambling.html
I think that I might put something
on the website about these Penny Auctions. Or maybe just
set up my own penney auction site because that is big,
easy money for those individuals that run the sites.
