I don't love Penny Auctions...Penny Auctions love ME!!! Well The bidders don't, but the owners do! haha! Just kidding.
Naw, but seriously. Penny auctions are a lot more interesting than waiting 5 days to bid on an item just to try to get a final bid in and hope nobody else does the same. With a Penny auction, an item you might otherwise pay $500.00 for, you may just get for $5.00. It feels more like winning at the casino than just going for a definite buy, except these casino wins feel great no matter what the value just for the fact that you WON it through "competition." The best casino games I could compare it to would be a combination of Hold'em Poker with a Slot Machine twist to it.
When I first found out about penny auctions long ago, it was mainly those scams being run in person where they choose the guy from the audience, etc. (the olden days... it's been in a few movies, I can't remember any by hand, but some of you know what I'm talking about). I'd eventually found the same concept had moved online, as most of the sites I looked at following the same concept looked like scams because of the patterns some bidders would use or the way the timers would function, which sure enough was eventually exposed on many sites here on P.A.W.
But as for the LEGIT Penny Auction sites, (ex: RB, BY, DD, etc.) They've given me a new outlook on life, and have allowed me to save enough money to buy that million dollar toothpick from space I've always wanted! Well not really, but I've been able to donate a lot of items, and provide gifts for a lot of people in the family without having to empty out a bank account, lol. I don't want to say how much I've saved, but you'd be pretty upset to find out and realize you could have done the same just by giving it a try. The Pros:
I have had some outstanding deals come my way, including a 100-ounce brick of Silver I'd won worth about $1400.00 at the time, which last time I checked was worth $1,922.00. I don't think I paid more than $250.00 for it total in bids and shipping (which was around $70.00 if I remember correctly). The Cons:
I'm now so addicted that one of my daily routines is to check my 3 favorite sites to see what auctions are going through the course of the day and what times so I know to be around. Lately I've been spending more time watching auctions than I have hitting the heavy bag. (that and it's colder than an eskimo nose outside) Well... on the bright side, even if I somehow manage to lose in the ring, I'll still be a winner in one of those auctions! LOL.
Penny Auctions are no longer just auctions... They have become a way of life! Well, not really, but you know... they have become sort of it's own social network to where bidders now interact on a certain level of competition, which creates a certain kind of awareness. I'm pretty sure some of the techniques and strategies created to win can be applied to many other things in life, but maybe not. Maybe I'm crazy... or maybe I'm over analyzing the strategies, lol. Either way...The Thought"A Penny for your thoughts? Hell naw, but I'll give you a Penny for that nice Widescreen HDTV or that PS3 right there!" The reply... sure! And THAT's what it feels like.
"I Love Penny Auctions because... just like their title, you can actually win an auction... FOR A PENNY!"
Edited by ProtoProtoss, 10 December 2009 - 02:28 PM.