Enough is Enough!

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?

The scammers like penny auctions because they know that we like the idea of the chance to get something for less, they know that we’ll probably try their site out.

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.

Image Credits Go To The Following Awesome People:

“No lie can live forever.” -Thomas Carlyle – Image Credits: Attribution Some rights reserved by Keith Bacongco

Static on the TV: Noncommercial Some rights reserved by Arnisto.com

Peligro Desconocido: AttributionShare Alike Some rights reserved by Juanedc

Starry Eyed Blythe: AttributionNoncommercialNo Derivative Works Some rights reserved by Melly ♥ Kay

Some random guy with money: AttributionNoncommercialShare Alike Some rights reserved by brnn

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7 comments… add one

  1. Jim Thomas

    I went o0n bidmacs just to see the auctions, they scammed me for 149.99 $
    Then said that if you e-mail them they would take care of it. This was said by michelle I still havent been credited my money back. I never gave consent to take my money.

  2. i filled out all the information then deleted it whereas i didnt want u still charged me $99.00 so please reimburse my account i opted out

  3. Liz

    These penny auction sites are popping up everywhere! Is there any of them that arent scams?? I cant seem to find one and keep seeing new companies popping up as scams on this site that seems to have people complaining about scams from companies. http://www.scambook.com/browse/index/company/114/BidRack

    If anyone finds a good penny auction site please keep me posted!

  4. Ron

    Just tried out this site and lost all my bids to a bot. I spent way more than the item was worth just to see if this is a trusted site. NOT :mad:

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  6. matthew

    I tried the main penny auction site in the UK that is even endorsed by mainstream media just to experience it and see if I could win a bargain. What utter rubbish I bought £20 worth of tokens, which was promptly doubled, I like to think I’m quite shrewd and have won many auctions on ebay, where bidding is free, but WHAT A RIPOFF.
    Just doing some simple maths, there were at least 40 people bidding on a camera (that eventually sold for nearly the full RRP) and I spent all my tokens (£40 worth that lasted only 10 minutes) which means £1600 minimum was spent bidding on the camera that was only worth £250, and the winner still had to pay for it, only a complete fool would use these sites regularly.
    I could easily come up with a much better site that was fair and allowed users to actually bag a bargain without being ripped off.

    1. Amanda Lee

      Hi Matthew, what site did you try?

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