Another Penny Auction Shuts Down: Say Goodbye to PenniesTrifecta

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Not many have been able to make it long-term in this industry, evidence of this are the hundreds of penny auctions that have shut down since they came to to United States in late ’08 with Swoopo being the first – Swoopo filed for bankruptcy Spring of 2011. Today we were informed that PenniesTrifecta.com has ceased operations. PenniesTrifecta offered 3 winners in their penny auctions, i.e.:

“Bidder A would be the unique first place winner.  Bidder B would be the unique second place winner and despite his or her fifth place finish Bidder C would be the unique third place winner.  From that point, if we assume the auction was for a $200.00 gift card, we reward the successful bidders as follows:

First Place                  $200.00 Gift Card            100.0%

Second Place            $100.00 Gift Card            50.0%

Third Place                   $50.00 Gift Card            25.0%

Based on this example the winners would pay for their gift cards as follows:

First Place                  $20.24            100.0% Of Winning Bid

Second Place            $10.12              50.0% Of Winning Bid

Third Place                   $5.06              25.0% Of Winning Bid”

The message on the penny auction site reads:

“Dear Valued Customers,

            As of today, July 26, 2012, Pennies Trifecta will cease operations.

            For us, the owners of Pennies Trifecta, this is a sad day, but we have enjoyed a wonderful relationship with our customers and suppliers and that is the memory we will carry into the future.

            Over the next couple of weeks we will be working with everyone to finalize their accounts with us.

            All auction wins will be shipped as usual.

            Unused bids will be purchased back based on their value as calculated by our computer.

            As always our customer service staff will try to answer your individual questions, but please be patient.  As you might expect we will be very busy for a while.

            Once again thanks to our great customers.  It has been a pleasure serving you.

Pennies Trifecta LLC

Customer Service Team”

SharetheSpoils was another penny auction that allowed 3 users to walk away with something of value, their site has been offline for a few months now.

It’s not easy making it in the penny auction business, we applaud the few that have. See our penny auction directory for more active sites. For those of you in the penny auction business read our  Responsible Development of Penny Auctions and  Guidelines for Penny Auction Site Owners.

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