U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Science and Technology
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-10-2013, 11:08 PM
 
Location: Lauderdale by the Sea, Florida
384 posts, read 499,697 times
Reputation: 565

Advertisements

I saw one on TV, and it seemed too good to be true. Are sites like this run by con artists?
Reply With Quote Quick reply to this message

 
Old 08-11-2013, 12:55 AM
 
15,924 posts, read 16,871,813 times
Reputation: 7623
Listen VERY close to what they say...

If I remember right the busty blond announcer says bidding can go up by as little as 1 cent per bid...

Never mentions all the hidden gotcha's and costs (of course)...

Here's some reading material for you, it details how these penny auction websites work:

Fraud.org - Penny auctions may 2013

If you want to call these businesses owners con artists than you must also call all American politicians con artists as well...
Reply With Quote Quick reply to this message
 
Old 08-11-2013, 11:20 AM
Bo Bo won $500 in our forum's Most Engaging Poster Contest - Tenth Edition (Apr-May 2014). 

Over $104,000 in prizes has already been given out to active posters on our forum and additional contests are planned
 
Location: Ohio
16,423 posts, read 32,250,079 times
Reputation: 12732
Penny bidding sites are more like a raffle than an auction, IMO. A raffle always benefits the organization that sells the tickets more than it benefits the buyers of the tickets.

With penny auction sites, you pay to make each bid, and each bid you buy gives you one chance to win the auction, and that chance to win only lasts until someone pays for the next higher bid. The curious thing is that raffles are regulated by the states more heavily than penny auction sites are.
Reply With Quote Quick reply to this message
 
Old 08-12-2013, 12:56 PM
 
7,376 posts, read 12,541,198 times
Reputation: 6934
You arent actually bidding a penny. You have to pay per bid as well. So yes they are a scam
If they werent a scam you would actually pay 20 cents for your winning auction which you bid 20 cents on.
Reply With Quote Quick reply to this message
 
Old 08-13-2013, 03:28 AM
 
37,072 posts, read 38,355,384 times
Reputation: 14837
Just watched a few of these auctions, seems if you wanted to spend a lot of time and didn't get overzealous you could make out if you carefully bid.

That said it's certainly "scammy", I have to even wonder how this is legal becsue it's almost like gambling. I saw an EOS rebel and the winning bid was like $40. Each bid cost 60 cents so that's $2440 bucks the site made on a camera that retails for about $600.
Reply With Quote Quick reply to this message
 
Old 08-13-2013, 10:19 AM
 
Location: The Berk in Denver, CO USA
13,143 posts, read 18,773,201 times
Reputation: 20485
Default Are penny bidding sites a scam?

Yes
Reply With Quote Quick reply to this message
 
Old 08-27-2013, 01:02 AM
 
1,807 posts, read 1,405,889 times
Reputation: 988
Auctions never work. This is the science and technology forum? If someone could get a better price at retail, they would do that instead of selling at an auction. Those sites are a scam. If you could get a $10 iPad then you'd have people bidding that up to the local used market price for that item.
Reply With Quote Quick reply to this message
 
Old 08-27-2013, 05:39 PM
 
Location: Looking over your shoulder
29,759 posts, read 26,809,762 times
Reputation: 79056
Quote:
Originally Posted by LPDAL View Post
I saw one on TV, and it seemed too good to be true. Are sites like this run by con artists?
Quote:
Originally Posted by davebarnes View Post
Yes
^^^ I agree!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Science and Technology
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top