Where else can someone make so much money and not even really have to work for it?
Ok, maybe that’s just a stupid question, but really think about it: Anyone can go into the penny auction business and make a huge amount of money, it’s harder to make it when you have low traffic and not many bidders, you can end up losing. It’s very easy for anyone to set up a site, put in shill autobidders and/or manually shill bid to make money from their customers that they’re bidding against. They don’t even have to let anyone win, but they could let some win, just enough to make it seem like they have real winners. There are sites that are still in operation where we have allegedly found to not have e-mail addresses for their bidders. How could this be?
Penny auctions aren’t mainstream, not many people understand what they are or even know what they are. Just think how easy it could be for someone to very easily rip people off. Perhaps you don’t even have to think about it, you can see some of our past articles and read what others have said in the forum, many people have been and are still being cheated by penny auction sites. We’re not talking about just losing to another bidder, but losing to a site. They don’t even need to ship products, and many penny auction sites haven’t. Bid4Millions, BidTimeLive, Spoow, Muulu/Vuulu, TidBids , are all examples of this.
How are they being made accountable?
Especially if the site owners are hiding behind masks of anonymity, with mail drop addresses and running under shelf/shell companies.
WARNING: No credentials or licensing is needed, anyone can set up a site easily and put in fake bidders (bots) or even shill bid, who’s going to find out? It needs to stop. Someone needs to stop it.
I do believe that there are legit penny auction sites online, I’ve bid and won items from a few of them that seem to be legit and seem like they’re making an honest effort.
But how will we ever know that a site doesn’t have fake bidders? When they’re charging by the bid, it’s easy to rip anyone off. The scam penny auction sites are doing a huge disservice to the entire industry.
Why Do We Like Penny Auctions?
Perhaps you’re a critic and you call penny auction bidders fools. (Penny Auctions Bet on Chump’s Change, Wired.com; “It’s a chump’s game – unless you have an edge over other people who are bidding” said Glen Whitney to the NY Times) It may be, that you need to understand why bidders like to bid on penny auctions, we like to because we like to win items for less than retail, we like that we can sometimes obtain a designer purse, a new laptop, mp3 player, gift cards, cameras, an iPad, for significantly less than what we could get them for in stores. Penny auctions can make shopping affordable, just not always.
“I think penny auctions offer many people hope. The hope of being able to give a child, grandchild, friend, spouse/significant other, family member, or charity something one might not otherwise afford. The hope of feeling one is contributing.”-Jets500
Why Do The Con Artists Like Penny Auctions?
There at least needs to be more warnings, and someone that will step up and put an end to the companies that are stealing from us.
A huge thank you, goes out to the Washington State Attorney General, for holding PennyBiddr.com accountable. We hope that more states will follow.
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