It’s not often that penny auctions offer cars. In fact, we can probably count with both hands, the number of cars that have been sold in penny auctions over the past year. Not taking into consideration the marketing value of these new cars for penny auctions, we’ve yet to see a penny auction site make a profit on any of their car auctions. The winners have always gotten a deal on a brand new car.
Last November, when Beezid auctioned a Kia Soul they received 2,656 bids, this is much less than what some sites get for iPods and other desirable electronics.
Snaglo’s Jeep Wrangler closed early this month and only received a total of 3,075 bids in addition to the auction seat price.
In September of last year, Swoopo’s Chili Red Mini Cooper Convertible sold for $3,939.36, the winning bidder won with 2,655 bids and paid a total price (bids + auction end price) of $5,532.96 + a $550 delivery charge. 32,828 bids were placed.
Recently opened penny auction ZoogBoo.com has also just started to offer car auctions with a 2010 Camaro SS, the clocks will start when their secret reserve price has been met.
UK penny auction MadBid has auctioned off a couple of cars over the past year, including a Fiat 100 and a Ford Fiesta.
Now Beezid is set to auction their highest priced item yet, and perhaps the hottest car sold in a penny auction, on April 30th, a 2010 Ford Mustang GT.
“BEEZID members have been asking us to put up bigger and more exciting auctions, and we’ve listened! Auctioning off a new 2010 Ford Mustang GT is another example of how BEEZID.com users shop smart, spend less, and have fun. We are looking forward to handing one of our BEEZID bidders the keys to their brand new sports car!” says Max Bohbot, President of Beezid.com.
The Mustang auction will start this Friday, April 30th, 2010 and will run daily from 12:00pm EDT to 3:00am EDT, and will be paused nightly from 3:01am EDT to 11:59am EDT until someone wins.
There’s been some buzz lately in our forum about car auctions, some are discussing whether or not a penny auction site solely for cars would be a good idea. Join in on the discussion! Have you bid on Beezid.com? What have your experiences been with them? Let us know! We value feedback from our readers as this helps all penny auction bidders weed out the scam penny auctions from the legit ones. We can’t wait to talk with you in our penny auction forum.