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FASTpennycars.com a penny auction site dedicated to new cars!!

Started by suburbangreen , Jun 20 2011 06:38 PM

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#21

rajkat
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Hello everyone.
If you have any gold coins to sell send me a message. I am a part time bidder and full time a jeweler. I will give you a very good price. everything through paypal.

#22

mojo
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Resurrection of a dead thread ..

Fastpennycars looks to be alive and well but things might have changed a bit ..

I need some help with the numbers here :) they appear to be astronomical numbers if all bid packs are sold ..

Win a 2012 Chevy Camaro SS on Fast Penny Cars

///Only Car Bids specified for vehicle auction #100045 can be used in the 2012 Chevy Camaro SS auction #100045. All unused auction #100045 car bids will expire upon the completion of auction #100045.


As can be seen on auction #100045, a countdown of the number of car bid packs which will be available before the 2012 Chevy Camaro SS auction #100045 is scheduled. When the countdown reaches zero, Auction #100045 will be scheduled to be begin within 7 to 14 business days.


Car bids for this auction can be purchased or won in auctions up until auction #100045 starts. After the vehicle auction starts, no additional car bid packs will be sold or auctioned. Each user in vehicle auctions is limited to 500 bids.///



three bids for vehicle auctions Bids range in cost from $0.70 to $1.00 depending on the size of the bid pack that is purchased.

You guys figure it out huh ?

#23

eshopper
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Got a long email today from someone who had access to their site - disgruntled coworker, sounds like. Basically "Tony" says they owed him money for some work he done on their site and he never got paid. Also said that they didn't have the money to buy the stuff up front. IDK about all that, read into it what you wish, I'm sure all members received the same email I did - in my junk mail folder. I've never won a car there but I've won gift cards and received them very quickly.
You aren't wealthy until you have something money can't buy.

#24

eshopper
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Here is the email:


A warning to all FastPennyCars players. This is a must read.

I was contracted by FPC to revamp their auction site back on 9/27/2011 and as such I have a copy of their mailing list.

Customers will remember that phones and emails for over a week were being ignored by Fastpennycars and they had decided to close up shop and posted a new page stating “we will back in 60 days”.

There was no intention of returning calls or emails whatsoever at that point. They didn’t have the money to pay for the auction wins from the previous 2 weeks which is why so many of you had to wait to receive you card wins.

I made them pull down that 60 day notice banner. I scheduled auctions to run 6 minutes apart instead of 30 minutes apart, brought in new product, and I insisted that nothing is more important than customer service and all emails and phone calls must be responded to. Now, thanks to the policies I created, Sabrina has been doing a fine job keeping customers happy.

If not for my intervention you would still see very poor customer service and their doors closed.

I even had to pay Amazon to purchase product for auction wins for the last week of September since they had no money to cover anything. I have the credit card receipts for those who doubt my word.

They have reneged on their agreement with me and paid me no money, though I am single handily responsible from taking this close to bankrupt company out of the grave.

So be it. I believe Karma has a way of coming back at people.

However, now I feel compelled to warn people about the “new car bid” packs. This was my concept and recommendation I made back in September since they had no money to buy a car to auction. However they have modified my initial recommendation to be a very bad investment for the player.

They are attempting to pay for the car by selling 175 bid packs valued at $200 per bid pack. They hope to make $400-$500 a bid pack so that they will take in $100,000 and THEN buy the car to auction. Again when I recommended this to them it was to make sure the car costs were covered up front. I never recommended “expiring non-redeemable bids”.

I also never recommended that customers that already purchased “normal” bids for a car auction couldn’t use any of them.

There will be 17,500 bids sold. (175 bid packs) So whether there are only 35 bidders with 500 bids each or a 175 bidders with 100 bids each, you are facing off against Seventeen thousand five hundred bids. That means if you purchase two bid packs at $200 each($400 total) you will have 200 bids and a little better than 1% (175 bids = 1%)chance of winning the car. Or reversed, almost a 99% chance of losing.

If they auction 2 bid packs a day, 5 days a week, that is only 10 bid packs a week. So you may ending up waiting over 4 months for a car to be posted for auction unless they get lucky and sell some bid packs.

The problem I have with what they are doing is that they may be bankrupt in 4 months and what do you do with those bid packs? I would have made it so that any person could exchange the car bid pack for a $200 gift card in case they didn’t want to wait. My biggest problem is that they have the bids EXPIRING!

So if you can’t attend the auction in 4 months you lose all of your investment. You can’t use them on another car auction and you can’t exchange them for a $200 gift card. Giving people 50 penny bids , per bid pack, is like giving away nothing ,since they are valuing these car bids at $2.00 each in these car bid packs and 50 penny bids is only worth around $40 at .80 a bid. The other problem with expiring bids is that you better bid early. What happens if the auction ends after 1000 bids and you never got to use your 500 bids since you were waiting an hour or two? You just kissed a thousand dollars away!

My recommendation is that you only bid on regular auctions and stay away from these card bids. You are buying nothing more than a lottery ticket and the “only 35 bidder” language doesn’t explain the math to you or the fact that you need to buy $400 worth of expiring bids to even have a one percent chance of winning. I doubt any car will ever be auctioned if the 175 bid packs don’t make the money to buy one.

FastPennyCars is not a company who’s word I could rely on as being truthful. Trusting this site to still be in business and hold your money for months until they collected enough car bids is a pretty risky thing to do when you consider the fact that I was paying for their auction product myself just a few weeks ago. Learn from my personal mistakes. Expiring bid packs only makes them a winner, not you.

On a closing note, as am I sure several people will notify FastPennycars about this email, I will happily make available audio recordings of all my phone calls with them and all email correspondence I ever had with them, if any attempt is made by them, to discredit the honest facts I have disclosed herein.

I am presently consulting with a new penny auction site that is very well funded and will be superior to FastPennyCars in every category. Bids will only be .60 each and you will never be out your bids as you can stop at anytime and buy the auction item outright, applying your bids to the purchase price. You will never see a $10BP card bring over 800 bids like I witnessed a few weeks back. A person can simply make 10 bids($6.00), stop bidding and purchase the item for another $4. You don’t have to win the auction to be a winner! They are opening in less than 2 weeks. If you wish to learn more please reply to this email with the words.

“Please update”

Thank you for your time.

Tony


You aren't wealthy until you have something money can't buy.

#25

mojo
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Thanks for that eshopper saved me a lot of number crunching even though i came up with similar numbers .. the rest of it is a revelation though ..

Would you pass on the email addy of the guy who sent out the email huh .. i would like to contact him about a similar project that i have in mind to do .. he seems to know what he's talking about ..

contact me: turbor @ gmail.com

#26

mojo
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Resurrection of a dead thread ..

Fastpennycars looks to be alive and well but things might have changed a bit ..

I need some help with the numbers here :) they appear to be astronomical numbers if all bid packs are sold ..

Win a 2012 Chevy Camaro SS on Fast Penny Cars

///Only Car Bids specified for vehicle auction #100045 can be used in the 2012 Chevy Camaro SS auction #100045. All unused auction #100045 car bids will expire upon the completion of auction #100045.


As can be seen on auction #100045, a countdown of the number of car bid packs which will be available before the 2012 Chevy Camaro SS auction #100045 is scheduled. When the countdown reaches zero, Auction #100045 will be scheduled to be begin within 7 to 14 business days.


Car bids for this auction can be purchased or won in auctions up until auction #100045 starts. After the vehicle auction starts, no additional car bid packs will be sold or auctioned. Each user in vehicle auctions is limited to 500 bids.///



three bids for vehicle auctions Bids range in cost from $0.70 to $1.00 depending on the size of the bid pack that is purchased.

You guys figure it out huh ?


Up-Date .. FastPennyCars.com Now Sets Reserve and Limits Bidders

Fastpennycars.com Changes Penny Auction

#27

fortime
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My experiance with FastPennyCars have been very positive... They have always shipped on time.

#28

SaveDemBids
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My experiance with FastPennyCars have been very positive... They have always shipped on time.


Same here! Shipping is sent Priority mail every couple of weeks. I always like receiving packages with a lot of wins in it (rather then one at a time). I highly recommend this site
-=SaveDemBids=--

#29

dpennybidder
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Liked this site got my items very quickly.






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