The Economist just published an article on penny auctions Mind the Pennies: The rapid spread of “entertainment shopping” spurs indignation.
Washington Post, ABC News, The Economist, we’llÂ soon see more media outlets expose penny auctions.
The pieceÂ Illustrates the difficulty of turning a revenue and the downfall of having too many bidders. They make mention ofÂ GoBid and Swoopo. Swoopo’s Gunnar Piening states what we’ve also noticed, â€œthere is a new one emerging every week.â€
BTW: According to a recent comment by one of our readers, the scripts/software bought on eBay do not work: “Fiesty Sites Is A Ripoff, Nothing Works In That Penny Auction Site That They Created Stay Away From Fiesty Sites And Ebay Becuse Theyt Are Totally Not Worth The 7.85.”
Should penny auctions be regulated? They probably will be.
The scammers definitely need be cracked down on & that’s why we’re here.
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