IntegrityBids’ motto was “because honesty matters” the penny auction site has just shut down according to the following message posted on their homepage:
“After much prayer we have had to temporary suspend IntegrityBids. Due to low traffic, and unforeseen costs, we are unable to continue. We would like to thank all of you, who played, prayed and supported us through out this adventure. For those of you we have met over the past year that we would have otherwise not, you have been a blessing that we will not soon forget. Again, THANK YOU and God Bless.”
Honesty definitely does matter.
Very few penny auctions have lasted past 1 yr in operation, many have cheated consumers out of a lot of money, some are still open yet continue to offer auctions and fail to ship items to members.
The line needs to be drawn.
If you cannot afford to run a penny auction don’t do it. So many people think it’s an easy way to make a lot of money, and if you don’t have the means, technological/marketing know-how it will definitely be a challenge.
The same could be said for any form of e-commerce, but running a penny auction does not come without difficulty and obtaining traffic is not always easy. IntegrityBids only ran a handful of penny auctions before they shut down, the majority of which did not receive very many bids.
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