-Click image to read article on Reuters-
That’s right, more & more penny auctions are starting to get noticed!
Today, the year old penny auction site BidRodeo was featured in an article for Reuters, the article tells of how Weronika Cybulska, co-owner of BidRodeo.com went from losing her job in marketing with a NY jewelry manufacturer to building BidRodeo into a million-dollar business with projected sales in excess of $1 million for 2010.
We were also interviewed by Reuters and mentioned the unfortunate shoddiness of the industry and the overall addictiveness. We hope that these points are continued to be made and questions asked. It’s imperative that consumers do their research before they bid, as some unfortunate penny auction sites fail to deliver on their promises and shill bid.
Also in the article, Mark Grffiths, a professor of gambling studies at Nottingham Trent University, likens penny auctions to gambling.
Just yesterday, when talking to someone offline about Penny Auction Watch and penny auctions, we were surprised to hear that they had recently heard about a penny auction site [read our interview with Skoreit] on the radio, they said the radio host boasted of TVs, iPods, etc. for $5, and $10 and they thought it was too good to be true. At first we too thought the same thing in regards to penny auctions and the ability to obtain items at significantly less than retail, it does happen, just not always.
It will be interesting to hear more of what consumers, analysts, and the media have to say about penny auctions.
Discuss and review BidRodeo and other penny auctions in our forum!
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