Penny auctions have been under scrutiny by lawmakers in South Africa for awhile now. A North Gauteng High Court ruling last year made interactive gambling illegal in South Africa, which has led some to question whether or not penny auctions would be able to operate legally in SA. So far, they’re still able to.
South Africa Based Penny Auction Offering Highest Priced Items
Earlier this month South Africa based penny auction, Smokoo.com they’re also open to bidders in the US, UK and France), featured an exclusive experience penny auction for a trip to the edge of space in a Russian MIG-31 fighter jet. The trip included a stay at a 5-star hotel, translator, return airline tickets, sightseeing tours, 1st class railway tickets, insurance and the flight in the MIG-31 fighter jet from the Sokol Aviation Plant. The item ended with a total of with a total of 3,236 bids, at the cost of 3 credits per bid, the retail price of the item is said to have been R250,000.00 ($36,963.75) USD.
Perhaps they’re the first penny auction we’ve seen to offer so many high dollar items, now they’re featuring a Mercedes…
Smokoo has announced their next high-ticket item, a Mercedes C180 with a retail value of $49,981.45 set to end in 4 days.
It’s not often that a penny auction site will offer cars, (well, we’ve seen a few questionable sites with very little traffic try it).
What do you think? Please feel free to discuss this in our penny auction forum!
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