“No matter what the stage of the bidding, the second-highest bidder can improve his position by almost a dollar by barely topping the current high bid. Yet the predicament of the second-highest bidder gets worse and worse! This peculiar game leads to a bad case of buyer’s remorse. The highest bidder pays far more than a dollar for a dollar, and the second-highest bidder pays far more than a dollar for nothing.”-William Poundstone, Prisoner’s Dilemma, Doubleday, NY 1992, pp. 280-282..
Bids cost $1 each on BidonCash.com, it’s another penny auction site that strictly auctions off cash, well PayPal cash that is.
I wonder if Martin Shubik ever thought there would be such a thing online…
“The Grand Opening of BidOnCash is finally here. No cameras, phones, or DVDs here… just cold, hard cash, from $50 all the way to $10,000.
No slow, lost or damaged shipments either… your cash will be in your account within 12 hours, ready for immediate withdrawal by PayPal or NETeller, or one of our other convenient withdrawal options.
BidOnCash is managed by professionals with many years of experience in various online and entertainment businesses, with First-Class customer support available 24/7.
Cash is King, and so are you, at BidOnCash.com. Registration is free and easy, so sign up and get your free bid, it might be your lucky day!
Steve Morrow
Customer Support Supervisor”
Is BidonCash.com almost like an online casino? What do you think? Discuss in our forum.
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What other cash only auction sites do you know of?
Hello Nimpkish, Horneto was one it is now gone, there is another one in the UK http://www.psychobanker.com/main.php However we are unsure of their legitimacy right now.