LabelDoll.com to Stop Offering Penny Auctions Today

labeldoll.com penny auctionSay goodbye to yet another penny auction site… With as many penny auction sites that have come and gone over the past few months it seems as if Penny Auction Shutdowns would be a more fitting name for us now than Penny Auction Watch… The newest penny auction site to shut down is the niche site that offered designer handbags, accessories, gift cards, cosmetics and other classy items: LabelDoll.com.

LabelDoll.com will stop offering penny auctions after their last auction (a $50 gift card) closes today, December 19th, 2011. The site will be known as a totally different LabelDoll in 2012 when it re-opens as an online boutique.

LabelDoll provided a fun, vibrant and professional penny auction experience. From their creative and fun packaging, to their free 2-day shipping, personalized service, free t-shirts and giveaways, along with tasteful authentic designer fashion items. What went wrong?

LabelDoll tells us why they have decided to stop offering penny auctions in the following message:

¨Let’s put aside the future for a moment and address the present: Why are we closing our auctions?

As some of you may know, the current attitude of many third party industries towards penny auctions is a tenuous one. A number of Merchant Service companies like Google Checkout (who refuse to work with penny auctions), Paypal (who levies large reserve fees) and others have made regular business exceedingly difficult.

In addition, since the FTC government warning, many advertising avenues have also been closed to penny auctions. These include but are not limited to, Facebook, Bing, Yahoo a huge swath of Google advertising, along with other search platforms. No advertising means no new users, and no new users means that we cannot sustain the auctions we carry.

The risk inherent in the Penny Auction business model, no matter how legitimate one may be, has many pitfalls. These risks can include malicious behavior (and it only takes a few to severely jeopardize an entire company), the legal uncertainty of penny auctions here in the States, and a number of other factors that make continued business no longer feasible.

Lastly, fashion is our passion and we believe our new online boutique will be a great way to still give you great deals and style.¨

Still have bids on LabelDoll.com and would like a refund?

LabelDoll has just sent out the following notice telling members how they can get their money spent on bids back:

¨We wanted to determine the fairest way possible to close down our auctions and resolve our business while still keeping yours when we launch our online boutique in the new year, and so decided upon the following:
  • By   sending us an email with the subject: “Refund Bid Value” we will refund the current value of bids in your account. We will not be refunding free/promo bids (like those given on 11/11/11).
  • Please note that in most cases the value of bids in a customer’s account is not a $1 to 1 bid ratio. Many of our bid packs included additional bids that lowered the total cost of bids. But please rest assured that you will get the exact value of the bids you have remaining in your account. ¨
  •  Members have 30 days to request a bid refund.

 

Goodbye LabelDoll, we wish you the very best in your future endeavors and new boutique.

 Discuss LabelDoll´s ceasing to offer penny auctions, and all penny auction issues in our free penny auction forum. Join here!

 

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