News9, Oklahoma City, OK just did a story on Oklahoma based penny auction QuiBids.com, watch the segment to hear from the CEO of QuiBids.com, Matt Beckham and other penny auction bidders. News9 makes mention that users can get items for mere pennies but this is not the bids cost more than 1 penny.
“Although, there has been some debate on whether online auctions could lead to a gambling addiction.
Psychologist Stewart Beasley said when it comes to shopping or bidding online, moderation and awareness is key.
“Anything can be adrenaline producing, even this bidding could be addictive for people who get caught up,” Beasley said. “People will buy things they don’t need because it’s so cheap. It becomes a rush and a contest.”
His advice is to keep it under control and look for warning signs.”
This leads us to our penny auction tip of the day: Bid in Moderation
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