Interview with Penny Auction

We recently interviewed the owner of the penny auction site Have you bid there? If so, join us in discussing ElectronicPenny in the Penny Auction Watch Forum. Read our interview to learn more!

Penny Auction Watch: What got you interested in the entertainment shopping industry?

When we were first introduced to the concept of penny auctions we were really intrigued by the business model, but we saw a huge flaw, it was unsustainable because the majority of the customers were walking away empty handed. This is when we started developing a system that can give the user flexibility in the amount they pay per bid and the way they can purchase the product at any time during the auction, and we simply done this by creating a switch, we called it the “Electronic Points” button, we will discuss this in detail once we get to the price per bid.

Penny Auction Watch: How long has ElectronicPenny  been open?

EP: Electronic Penny™ launched back in 2011 and we received a really positive response from our customers. Unfortunately, our system couldn’t handle the overwhelming user-base that we quickly accumulated. We seized operations around April of 2012 after fulfilling all orders, since then we’ve been working very aggressively to enhance the user experience and come back with a better and faster product than we first introduced in 2011, and we are happy to say that we have a fully custom auction & retail site which we believe will change the penny auction business model forever, by creating a fun shopping atmosphere without the gambling factor which many have associated with penny auctions.

Penny Auction Watch: Can you tell us about some of the items that you offer/have lined up? Do your auctions run on a schedule?

EP: During the next few weeks our auctions will not be running on a certain schedule but will be heavily populated as we move into the holiday season. We offer many great products ranging from home appliances and furniture, to cell phones and video games. Our inventory is highly dynamic and our store gives the user the ability to right out buy products for great prices; there will be additions nearly every day well into 2013. Almost everything you can think of we’ve probably got it, and if we don’t have it you probably don’t need it.

What are the timer increments between bids and does this vary by auction?

EP: The timer increments are usually between 15-30 seconds with the majority of auctions around 20 seconds.

How much are your bids?

EP: This is where our system differs the most from other auction sites. We let the user decide how much to pay per bid, and we let the user decide how to purchase the item in the event of not winning the auction.
With ePoints ON, every bid will earn the bidder 100 ePoints which can be used towards the retail price of that particular auction or towards in-store products (current cost for this option is $0.95-$1 per bid)


You bid 20 times on a product that is worth $50 and you don’t win the auction, now you can purchase the product for $30 + S&H and applicable taxes if any.


You can make an offer through our store with cash and points and get more great deals, offers are evaluated by live agents and are either accepted or counter offered for the user to decide.
With ePoints OFF, if you don’t win the auction you can buy the product at retail price and get your bids back (current cost for this option is $0.60-$0.65)


You bid 40 times on a product that is worth $50 and you don’t win the auction, you can purchase the product at retail price + S&H + applicable taxes and get 40 free bids!

Penny Auction Watch: What are your shipping costs? How long does it usually take for users to receive their items?

EP: Shipping costs vary depending on product and is usually associated with weight, we offer free shipping on some products and we also offer expedited and overnight shipping.

Penny Auction Watch: What states/countries are you open to?

EP: We are currently operating within the USA only, we are located at

1036 60th street
Brooklyn, N.Y 11219

Penny Auction Watch: Are there any win limits, limits/household on your penny auction site?

EP: There is a 30 day win limit which is associated with every product separately, we currently accept one account per household.

Penny Auction Watch: Is there a story behind your name/theme?

EP: Electronic Penny is truly a master piece and we would like to leave the name for the user’s imagination, once you use the system to your advantage it will all make “cents”

Penny Auction Watch: Is there anything else that you would like to share with Penny Auction Watch readers?

EP: We would love to invite everyone to like our facebook page for the most up to date information and just a few tips to get you started!

-Before you bid, decide your strategy by clicking the electronic points button ON/OFF.
-Earn ePoints and improve your rank to win prizes & free bids!
-If you use your electronic points your rank will decrease.
-Free bids don’t affect the buy now price and can only be used once.
-Buy the larger bid-packs which offer a built in discount and if you lose an auction the discount will carry over either in the amount of bids you get back or on a great discount on the auctioned item!
-Rank prizes and achievements coming soon!
-Enter code EP10 at signup to receive 10 free bids!

Thank you!
The Electronic Penny™ Team!
Thanks ElectronicPenny! Don’t forget to post your review of ElectronicPenny in our forum! Click here to join. 

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1 comment… add one
  • Alex November 3, 2012, 5:04 pm

    It would be interesting to hear what is their software solution – made in house or purchased from a provider? Was the software a reason for their troubles?


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