Penny Purses Has Stock

A few of our readers have won and received handbags from Penny Purses, it seems they’ve been doing very well and are quite popular.  They purchase all of the handbags that are up for auction and have them in their possession prior to listing them on the site for sale. On Penny Purses’ very first auction they received about 140 bids on a Coach handbag, but gave everyone their bids back they even hand delivered their first item to a woman an hour away from them.

Penny Purses just announced that if you win a handbag that is not authentic, (they strive to sell authentic designer handbags) they will refund all of your bids & send you $1000 cash.

Quite impressive!

Here’s a sneak peak exclusive to PAW readers of their upcoming handbags. Michael Kors, Coach, Juicy Couture and Kate Spade are in the mix:

Discuss Penny Purses and all penny auctions & entertainment shopping.

Disclaimer: Links to penny auction Web sites are included for the reader’s reference and do not constitute an endorsement or the legitimacy of the online auction websites, or any associated product or service therein. Thank you and, as always, remember to use your own discretion and do some research when bidding on penny auctions.

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9 comments… add one
  • E-Shopper September 10, 2009, 4:37 am

    Penny purses is a great penny auction site. The bags are 1st quality and they ship the day after you win with no shipping fee or delivery charge, the cost of bids and the final bid price is all you pay. Two thumbs up, I would recommend them all the way.

    Reply
  • Julie September 14, 2009, 12:46 pm

    I'm just learning penny auctions because of the site pennypurses.com, which I found a link to on craig's list. I had no idea anything like this existed and at first I was super afraid I would buy bids, and win nothing.

    I still gave it a go, and so far have won 2 purses from this site. It's awesome!

    Now, it's certainly gaining popularity, so if you want a purse without a tremendous amount of effort, I'd suggest registering on this site NOW, and winning a bag asap. They are well on their way up to being known far and wide because of their amazing variety of purses, and the fact that they're all the real deal. It's a treat and a completely amazing secret right now. Hurry up and get a bag! I predict that in 6 months this site will be huge and talked about on the mainstream.

    Reply
  • not happy bidder September 15, 2009, 7:58 pm

    After spending hours watching and participating in an austion, the site suddenly stopeed responding and the auction suddenly ended. There were 5-6 people activley bidding then suddenly it stopped even though I was puching the button over and over again. Since none of the other bidders were able to bid either it was obvioulsy a problem with their site. I ahve filed a complaint we will see how far it gets. I had out in over 50 bids and still had 40 to use. Now I see they have asked for fake bidders! My next call is to my CC company.

    Reply
  • louise September 27, 2009, 12:04 am

    Who pays to bid?

    Skip this – you're making losers rich off of nothing.

    People are actually paying for this? As much as I have problems with Ebay, I'll stick with that. I have Pay Pal coverage is something goes wrong – good luck with all your charge backs people.

    Reply
  • jess September 27, 2009, 12:05 am

    Scam artists – big time scam artists.

    Reply
  • Whoops! October 10, 2009, 8:18 am

    I saw an ad for PennyPurses and was skeptical at first. But after reading their user agreement, privacy policy, FAQs section, and watching several auctions in action, I thought it seemed legitimate enough. Well, shame on me for being fooled!

    I purchased their pack of 100 bids for $65 and found a purse that I wanted to bid on.

    I’d done enough research to figure out several things about how to bid. First of all, they give you the option of doing “future bids.” A future bid is where you tell PennyPurses the number of bids you’re willing to use on an auction, and the minimum and maximum price you’re willing to pay. Or, if you don’t want to do that, you can just sit there at your computer and bid as the timer counts down. These are “single bids.”

    It is foolish to use a single bid against a future bidder. You see, anytime someone places a bid, 10 seconds is added to the timer. All future bids for an auction kick in at 5 seconds left on the timer. So, say you’re a single bidder and you wait until the timer counts down to 3…2…1… Well, then instead of the timer running down to zero and the auction ending, a button pops up that says “last chance.”

    This button stays up for five seconds. So, since you’re smart and you’ve done your homework, you wait until you see “last chance” and then you press the bid button, which adds 10 seconds to the timer. Well, but then when the timer reaches five seconds again, anyone who has future bidding set up will have their bid kick in for them. So, you’ve just wasted a bid, because a single bid will never trump a future bid.

    So, knowing all of this, I waited until all the future bids ran out. Then I set up a future bid. I told PennyPurses to use all 100 of my bids, and I set the maximum price I was willing to pay really high, so that any single bidders out there would give up and bow before my expertise. 🙂

    What I hadn’t anticipated was that PennyPurses was going to play dirty. I got my future bid all set up, and then watched. Sure enough, each time the timer hit 5 seconds, it would use one of my bids as a future bid. At first, several single bidders were still bidding against me, but just as I had predicted, they soon gave up, leaving me with the highest bid. I was super-excited!

    I watched as the timer went down 4…3…2…1…25…wait. What? 25?! Did someone just bid against me? No. The timer just reset itself out of nowhere. If this had happened once, I could chalk it up to a glitch on their system. But it happened SEVEN times. I’d have highest bid, no one was bidding against me, and then all of a sudden the timer reset itself, giving PennyPurses a few more seconds for other users to log on, see an auction for a cute purse about to end, and place a bid.

    In addition to timers re-setting out of nowhere, I believe they also fake users to jack up the prices. I could be completely mistaken, but the user name “MissMariposa” is either a real idiot, or a fake user set up by PennyPurses.

    When you look at past auctions, you will see this user on the bidding history for almost every single purse. However, she always drops out of the bidding toward the very end. From what I can tell, this user has only “won” two purses out of the 100+ auctions PennyPurses has done so far.

    Yet, this users has wasted hundreds of bids on the majority of auctions. So, either this person is very rich and dumb and has too much time on their hands, or they aren’t a real person. And I’d bet, on the two purses they did “win,” it was because real users got tired of bidding against an autobot.

    I have no doubt real people win designer handbags on this site. However, I do think PennyPurses has it rigged so that each auction has to reach a certain price and/or a certain amount of bids before it can be won. Keep in mind that for every person that even bids, that’s 65 cents straight in PennyPurse’s pocket. Most of the auctions have over 500 people who bid, which is quite a hefty profit for PennyPurses. Especially if you factor in that timers reset out of nowhere, and that you’re bidding against fake users.

    So, if you do decide to bid on this site, proceed with great caution. Keep in mind that there may be a very good reason that in their “winners” section (where happy customers can write in with pictures of their newly won purses), there are only 3 people who have submitted photos and written a cheery testimonial. (You can find a link to this “winners” section at the top right-hand side of their website).

    As for me, I learned my $65 lesson, and won’t be using this site again!

    Reply
  • James @ Penny Purses October 14, 2009, 4:58 pm

    "not a happy bidder": Not sure where you are getting this information, "Now I see they have asked for fake bidders!" Very odd, where and how have we been asking people to be fake bidders? Completely false information.

    In our early auctions, we had our fair share of growing pains with server and code functionality. However, on all auctions that ended by verifiable server or code issues, all bids on those auctions were refunded to all bidders, and the bags were re-listed. There have been no reports of server or code functionality issues on any active auction for some time now, and many members have won some superior bags!

    Other members: We have never, ever, ever had a "shill" bidder, an "auto" bidder, a "script" bidder, "fake, scam, robot," or whatever type of pre-programmed, biased bidding module, code, or live human being on our website present to intentionally scam, steal, or fool our members. We are popular because REAL people bid on our REAL bags and walk away with REAL results. If you EVER suspect shill, auto, script, bidding, **by all means** you are WELCOME to write down the auction number, the time of bid, and the bidder name and I'd by MORE THAN HAPPY to show you that they are NOT fake. Email us anytime. You may get myself, Chris, or Natalie in response but we will all help you to the best of our abilities!

    info@pennypurses.com

    Regards

    James @ Penny Purses

    Reply
  • April October 23, 2009, 2:40 pm

    I have had almost nothing but positive experiences with penny purses. Over the past month or so, I've won 8 auctions (and lost several more – username scapril). The few times I had technical difficulties, they refunded my bids, as they did to everyone, I assume.

    I am also the reason that the bid limit is in place. After winning 3 auctions in a week, I logged on to find my account said "account suspended" in bid RED letters (a red which paled in comparison to my crimson face, since I had attempted to log on with several co workers looking on). The unhappy email I sent to the site was quickly replied to with a logical explanation of the new limits and an apology.

    As to the winners area, I have sent in one photo which hasn't been posted (thanks for the self-esteem boost, guys 😉 ).

    Reply

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