Penny Auction Sites

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snipeshot11

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#1 snipeshot11
Member since 2007 • 1006 Posts

Penny auction sites are becoming increasingly more popular and even see the odd commercial on them. Anyways here use them? Been Successful? Have any suggestions on which ones to use if any at all?

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LordsLoss

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#2 LordsLoss
Member since 2006 • 2584 Posts
Stay away from them. They charge you for every bid. Let's say you bid $100.00 on an item and someone outbids you, then you bid $200.00 and you lose to a guy who bids $201.00 You will owe them $300.00 even though you did not win and because you bid twice and together they make the $300.00 This is how most of those sites work, not all the time though.
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ZumaJones07

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#3 ZumaJones07
Member since 2005 • 16457 Posts
Stay away from them. They charge you for every bid. Let's say you bid $100.00 on an item and someone outbids you, then you bid $200.00 and you lose to a guy who bids $201.00 You will owe them $300.00 even though you did not win and because you bid twice and together they make the $300.00 This is how most of those sites work, not all the time though. LordsLoss
That sounds illegal :lol:
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LordsLoss

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#4 LordsLoss
Member since 2006 • 2584 Posts

[QUOTE="LordsLoss"]Stay away from them. They charge you for every bid. Let's say you bid $100.00 on an item and someone outbids you, then you bid $200.00 and you lose to a guy who bids $201.00 You will owe them $300.00 even though you did not win and because you bid twice and together they make the $300.00 This is how most of those sites work, not all the time though. ZumaJones07
That sounds illegal :lol:

I know it sounds illegal, but they do it anyway lol That is how sites like Beezid work. Plus after you win, they sometimes extend the timer for another minute or so...

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cd_rom

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#5 cd_rom
Member since 2003 • 13951 Posts
Stay away from them. They charge you for every bid. Let's say you bid $100.00 on an item and someone outbids you, then you bid $200.00 and you lose to a guy who bids $201.00 You will owe them $300.00 even though you did not win and because you bid twice and together they make the $300.00 This is how most of those sites work, not all the time though. LordsLoss
Are you serious? I knew they charged per bid, but they charge for the actual bid? I thought it was like $1 each or something.
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LordsLoss

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#6 LordsLoss
Member since 2006 • 2584 Posts
I had a friend who got scammed into this when it first came online. I don't know if they changed since then, but thats how it used to work. I was like, never will I use one of them.
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DarkOfKnight

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#7 DarkOfKnight
Member since 2011 • 2543 Posts
Stay away from them. They charge you for every bid. Let's say you bid $100.00 on an item and someone outbids you, then you bid $200.00 and you lose to a guy who bids $201.00 You will owe them $300.00 even though you did not win and because you bid twice and together they make the $300.00 This is how most of those sites work, not all the time though. LordsLoss
No.....You buy the bids first, then use them. You don't owe them anything because you already paid for the bid. I have used penny sites before, you buy a set of bids and then use them to bid on items, when you run out you have to buy more.
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DarkOfKnight

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#8 DarkOfKnight
Member since 2011 • 2543 Posts
[QUOTE="LordsLoss"]Stay away from them. They charge you for every bid. Let's say you bid $100.00 on an item and someone outbids you, then you bid $200.00 and you lose to a guy who bids $201.00 You will owe them $300.00 even though you did not win and because you bid twice and together they make the $300.00 This is how most of those sites work, not all the time though. cd_rom
Are you serious? I knew they charged per bid, but they charge for the actual bid? I thought it was like $1 each or something.

You buy a set of bids, then use them. Still not worth it, mostly because it all comes across as a scam because others always seem to have unlimited bids. Made me think bot.
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BuryMe

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#9 BuryMe
Member since 2004 • 22017 Posts

Stay away from them. They charge you for every bid. Let's say you bid $100.00 on an item and someone outbids you, then you bid $200.00 and you lose to a guy who bids $201.00 You will owe them $300.00 even though you did not win and because you bid twice and together they make the $300.00 This is how most of those sites work, not all the time though. LordsLoss
I don't think that's right...

They charge you per bid (maybe 50 cents or a dollar), and each tim you bid, the remaining time increases by a few seconds. Each time you bid, the price goes up by a predetermined amount, and the winner then has to pay that amount.

They don' make you pay for the amount you actully bid if you lose. You just pay the small bid fee.

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DarkOfKnight

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#10 DarkOfKnight
Member since 2011 • 2543 Posts

[QUOTE="LordsLoss"]Stay away from them. They charge you for every bid. Let's say you bid $100.00 on an item and someone outbids you, then you bid $200.00 and you lose to a guy who bids $201.00 You will owe them $300.00 even though you did not win and because you bid twice and together they make the $300.00 This is how most of those sites work, not all the time though. BuryMe

I don't think that's right...

They charge you per bid (maybe 50 cents or a dollar), and each tim you bid, the remaining time increases by a few seconds. Each time you bid, the price goes up by a predetermined amount, and the winner then has to pay that amount.

They don' make you pay for the amount you actully bid if you lose. You just pay the small bid fee.

You got it right, but you already paid the bid fee before you made the bid anyway.