Is a Scam

At the time I am writing this has an “A-” rating at the better business bureau which is pretty good compared to some of the other penny auction websites i’ve seen online. I’m not a fan of penny auctions or the penny auction industry but despite my opinion more and more penny auction websites continue to pop up. Personally I don’t like the idea of paying to bid on something but there are some obvious benefits to penny auction websites if you can win.

Purchasing BID TOKENS so whats the big deal?

One of the major reasons i don’t like penny auction websites is the fact that you have to purchase credits or Bid Tokens. This is honestly where most penny auction websites make their money most people usually affiliates of the penny auction industry will claim to have won prizes and claimed to have saved large amounts of money but the truth of the matter is winning in my book is the money spent on tokens minus the real retail value of the prize you won.

So lets say you exhausted your $75 worth of bid tokens but the only thing you won was a $25 gift card. Do you consider yourself a winner or a loser?  I would consider that to be a loss. Regardless of the amount Bid tokens spent on winning the $25 gift card the reality is you spent $75 to purchase the bid token pack. That’s how i measure wins and losses. Factor in the time people usually spend on Penny Auction websites and too me it’s a total loss.

Join just to have a good time

I look at penny auctions as a gamble you hand them your money for chance to win something, the bottom line is that you hand them your money before you actually “win” anything, so it’s best to look at penny auctions like an online amusement park, remember penny auctions would not be in existence if everybody was winning so if you’re going to join do it just for fun. As the saying goes if it’s to good to be true it probably is… The visual presentation of all penny auctions is what usually gets people to sign up.

I mean look at it LCD TV’s going for a few bucks who wouldn’t be enticed by that… Just remember a few key factors about penny auctions — although the price goes up by one cent the reality is that it cost each user up to 75 cents to place a bid, so the reality is the price moving up by a cent is nothing more than an illusion. On that note if you want to sign up for don’t let me stop you just don’t say i didn’t warn you.

Please leave your comments or strategies about Below it helps others in their decision making process