Tons of penny auction sites have come and gone over the past 2 years (at least since when I and the Penny Auction Watch℠ Community started watching/bidding). The frequency of new penny auction shutting down has definitely increased over the past few months.
The penny auction model in its present state, unless a site offers buy it now, is not sustainable.
A word about buy-it-now.
So what if you don’t make thousands of dollars on the sale of one iPod, can’t you at least make what you paid for the item + maybe a little bit more if you purchase them at a discount/wholesale?
What’s up with so many sites closing?
Many got into this industry thinking they would make millions (probably!) off of consumer’s desire for more “cheap” stuff.
However, thinking you can get rich off of greed only shows who the greedy one is, and some of the sites that are now gone really have showed us that. The majority shut down, leaving consumers, myself included, out of money and items that were won. Did some launch just so that they could swindle us? Think so? We know so. Take this statement from the owner of now closed penny auction site Muulu/then Vuulu “because things will sell to people you dont want things to sell bots act as a reserve so items never sell you get money, and dont sell products”
Some sites, the better sites, (rare) made sure users had their items and even bids refunded before they went out.
The following, though not a complete list (feel free to help us add to it), is a listing of penny auction sites that have open & closed over the past 2 years, the majority within the past 12 months:
- LincolnBidz.com – Gone, no explanation. In June of 2010 said, in response to a thread “Are You Tired of Losing Your Money?” said the solution was coming soon.
- theOutbidders.com – Gone, took users money with them.
- BidMacs.com.com – Gone, we saw tons of consumer complaints on previous posts
- RedBread.co.uk – Gone, drama
- OohiLove.com – Formed by Stanford graduates – recently acquired by Swoopo’s Entertainment Shopping Inc. Now out of business as of 3/31
- Swoopo – Started as Telebid in the UK, ‘tele’ for telephone, its premise of bidding by phone. – Inventor of the penny auction). Arrived in the US 4th quarter of ’08. Parent company filed bankruptcy in Germany 2 weeks ago.
- BidTrotter.com – Gone
- Abidaway .com – Gone
- ZoogBoo.com – Gone
- Spoow.com – Nope, never got my Gold plated iPod, after they saw my post they did refund me.
- Yuzzit.com – Gone
- PennySlam.com – Closed after 4 days
- GiftCardsforPennies.com – Gone
- ZaneyBid.com – Gone
- Bidoction.com – Gone, informed us of closure *unlike most!*
- Pennies2Win.com – Gone
- BidFather.com – Gone
- BidJx.com – Site has now read “BidJx has been sold. The new owners expect to launch auctions later this month.” this message was first posted a few months ago.
- ParadisePennyAuction.com – Gone
- SnagBidder.com – Gone
- BidFight.com – Gone
- Snaglo.com – Gone. Sold a Jeep
- ChooChooKazoo.com – Gone
- MyEZBids.com – Gone
- BidTimeLive.com – Gone, and they had 2 sites
- BidTime25.com – Gone, this is the 2nd.
- SimpleBids.com – Gone
- GoBid.com – Gone
- RockyBid.com – Gone, Owner back with new site
- ABCpennyauctions.com – acquired – returned, now gone.
- BidFireWorks.com – Allegedly caught cheating – Gone
- Bidding4Cars.com – Gee, they must have gone out of business after penny “auctioning” $408K worth of brand new cars! – No more cars?
- PickleBid.com (Lost merchant account, coming back? Not sure yet)
- SwipeBids.com – Gone, suing me
- LuckyBossBids.com – Gone
- VacationsforPennies.com Now AuctionCombat AC’s next auctions ending the next 1400 hours?
- BittyBidz.net – Gone
- Grabaroo.com – Gone
- PennyBankAuctions.com – Gone
- Bidazzled.com – Gone
- GongBid.com – Found shill reviewing (allegedly)
- PennyBiddr.com (thanks to the State of Washington AG) Was found to have shills, PennyBiddr.com, “The owner of PennyBiddr, based in Federal Way, agreed to shut down the site and refund consumers nationwide… .”
- BumbleBBids.com – Gone
- Bidsadieu.com – Gone
- SitNBid.com – Gone
- QuickDrawBids.com – Gone
- SlamPenny.com- “Payment processor issue”
- PollyWantaPenny.com – “
Great customer support!” – Verbally abused customers
- Complooter.com – Gone
- Jeeler.com – Gone, made good on refunds though, as far as we know.
- Bidcentsible.com – Gone …
- Buy1Get1GiftCards.com – Gone
- LittleBids.com – Gone
- Roozos.com – We found that they had bidders who lacked e-mail addresses -Gone
- PennyWarriors.com – Paused
- BiggestPennyAuction.com – Gone
- PennyFragrances.com – Gone, coming back?
- Yuzzit.com – Gone
- ZaneyBids.com – Gone
- PennyLord.com – Gone
- BidFire.com (Returning with revised model)
- Pardoo.com – Gone
- BidWat.com – Gone
- Bidzilla.com (Under Construction – for what? 1 year now)
- Dime-Divas.com (Shipped, seem legit – I tend to think the win limits of 2/wk per person was not much considering their userbase was small
Gone as of March 2010:
- Biddango.com – I have the T-Shirt.
- TdBids.net – Shilled, admitted to it
- TidBidz.net – They stole at least $300 from me, others
- CentMonkey.com (Good, there’s enough monkey business already in this industry!)
- CheapOBids.com (If it wasn’t for them PennyAuctionWatch.com wouldn’t be here today!)
- HungryHammer.com The “Porsche of Penny Auctions” (They told us that their website alone cost over £150,000 (that’s $241,575).
- Muulu/Vuulu.com (Why we say we’re GLAD some are gone.)
- TheAuctionSquirrel.com Merged with BidMyDreams.com
- Yottabid.com – The very first penny auction site I bid on. Opened March 2009, closed 3 months later. Alleged shills too.
Rather fail with honor than succeed by fraud.-Sophocles
Is the penny auction industry nearing its end?
We don’t know yet, but if some of these lawsuits against top sites where users have actually won and received items from favors the plaintiffs and legislature is drawn up against them, well then they will be. Some shouldn’t even be allowed to run.
This is an area of the Internet that over the past 2 years has grown and has recently begun to receive media attention. However, the media hasn’t been bringing enough attention to the fact that some of the sites listed above, and many more that are currently still open and running bots/shills are stealing from thousands of consumers. Here’s just a glimpse of what some of the closed sites have taken from bidders.
We don’t like it.
“I certainly understand that we’re all trying to make a living, but I’m not thinking about that when I’m making it. And if that’s your sole motivation, it’s going to reflect that narcissistic greed, and you’re going to hear it in the music.” –Aimee Mann
Were you ripped off by a penny auction site? File a complaint, see & our directory with contact info for Attorney General’s offices by state, the FTC, and other government agencies.
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