Who can tell me whether online penny auction is a scam or not?
As we all know, online penny auction has become more and more popular throughout the world with an increasing number of followers. But there are also some bad comments about it. Should I believe in this kind of online auction?
It is a scam. Here’s a good tip: anytime it occurs to you to ask whether something is a scam or not, it’s a scam.
Here’s how penny auctions work: A seller lists a valuable item for the unbelievably low price of a penny. Then, bidders compete with one another to win the auction, with each bid only increasing the cost by one penny. At the end, someone wins a sports car or similar for $118.96. Sounds amazing, right?
Wrong. To use these sites, you have to BUY bids. Each bid that you place costs you an exorbitant amount–something like ten bucks. "Okay," you might be telling yourself, "Ten bucks plus $118.96 is $128.96. That’s a steal for a sports car!" It’s not that simple. For EACH bid, someone paid $10, which means that car went for $11,896 worth of bid fees, plus the winning amount of $118.96, for a total of $12,014.96 to the seller.
All you do when you bid on those sites is pay $10 toward an item that somebody else will win. If you’re the final bidder, that’s great, but the auctions extend for 10 minutes every time somebody bids. You and ONE other person could be bidding on the same item for hours or days, and at the end, you’ve both spent thousands of dollars on bids for something that only one of you will win.
It’s a scam, plain and simple. Things that seem too good to be true ARE too good to be true.
I’ll bet you a dollar to a donut that you will get ripped off.
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It is not a scam, the problem is the way the process is set up.
You have to buy your bids, you cannot simply start bidding pennies.
And each time you bid, you lose that bid whether or not you win.
On eBay if you place a bid and lose, eBay doesn’t keep your money.
On a penny auction if you place a bid and lose, they still keep your money.
Stick to the age old adage if it is too good to be true… Well you know the rest.
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Public Education
they’re not if you know where to go…
there is zbiddy it has amazing service and perfect prices,
take a look and try it => qr.net/ZBiddy
it might be just what you’re looking for..
and yeah it’s becoming popular because you can get some really good items for a cheap price.
good luck
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It is a scam. Here’s a good tip: anytime it occurs to you to ask whether something is a scam or not, it’s a scam.
Here’s how penny auctions work: A seller lists a valuable item for the unbelievably low price of a penny. Then, bidders compete with one another to win the auction, with each bid only increasing the cost by one penny. At the end, someone wins a sports car or similar for $118.96. Sounds amazing, right?
Wrong. To use these sites, you have to BUY bids. Each bid that you place costs you an exorbitant amount–something like ten bucks. "Okay," you might be telling yourself, "Ten bucks plus $118.96 is $128.96. That’s a steal for a sports car!" It’s not that simple. For EACH bid, someone paid $10, which means that car went for $11,896 worth of bid fees, plus the winning amount of $118.96, for a total of $12,014.96 to the seller.
All you do when you bid on those sites is pay $10 toward an item that somebody else will win. If you’re the final bidder, that’s great, but the auctions extend for 10 minutes every time somebody bids. You and ONE other person could be bidding on the same item for hours or days, and at the end, you’ve both spent thousands of dollars on bids for something that only one of you will win.
It’s a scam, plain and simple. Things that seem too good to be true ARE too good to be true.
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Not every penny auction are scam and they are fake. There is one sites that provides accurate result, I am being trusted to this sites since 2 years and in my hope this is the best site up to now…..
http://pennyauctionlist.com/
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