Q: Opinions on penny auction sites?

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Which do you guys use / Which do you think are the best?How do you like them? Any tips?

heyimdennise (rep: 6.34k) posted Feb 09, 2012

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9 Answers

I would avoid these sites. What sounds to good to be true is usually to good to be true.

They only people who do good on the Penny Auction sites are the site owners. You buy a package of bids and then make bids, You surrendr the value of the "bid" whether you win or lose and there is only one winner.

They have been deemed a waste of money by a slew of consumer angencys. Save your money and scour Deals Plus for the good values.

skaro964 (rep: 2.28k) posted Feb 10, 2012

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I agree with skaro964! I have checked into many of these sites and your "Penny" is not actually a "Penny" when you purchase the bids... they show these Super Low Prices that things were won for - what they don't show is How Much that say $1.35 c cost the winner in Real Time Money - not to mention HOW MUCH they make off the others that spent money on bids and LOST not only the Item but their money as well... the Penny Auction Sites can wind up making 3 times or more the Value of the item before the item ends - but continue to Suck People in with their So called LOW WINNING BID Amounts... The research I have done spells "SCAM" on ALL of these Sites. Just my Opinion - but I hope my research into them helps. :)

FibroMom (rep: 58.3k) posted Feb 10, 2012

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I was given some free bids for one of these sites and I went on to try it out. A couple of times I would think I won then it would say bidding closed and you did not win. I went through a lot of bids and ended up with nothing. Im glad I didnt spend anything.

helloamy1977 (rep: 981) posted Feb 10, 2012

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I've had really good luck on a couple sites, given free bids I turned those bids into wins like giftcards, iPod nanos, which everything also came with more "promo" bids. My friend actually won a 42inch tv with 15 bids and altogether spent $42 on it brand new. It all depends on which site and the user. Definitely do reasearch and watch before you bid.

seanselectric (rep: 167) posted Feb 10, 2012

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Bots, bots and more bots.

encorez (rep: 5.99k) posted Feb 10, 2012

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I've always wanted to try the Penny Auctions sites, but NOT SURE how well they really are. I get SMART MONEY magazine and it says that it doesnt hurt to look int, but didnt list any specific companies. I need to to if there is any suggestions on their website. Also, MONEY magazine may offer reccommendations if Penny Auctions worth it.

mjdebpagoria (rep: 15) posted Feb 10, 2012

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seanselectric - care to share which sites you and your family have had luck with? I would like to check them out. :)

FibroMom (rep: 58.3k) posted Feb 10, 2012

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FibroMom- do A LOT of reasearch I like to jump from site to site, I watch for up and coming new sites, they always have free bids to give away, you can start there and win easy items like gift cards and small items, you'll also make a lot of free bids because most giftcards come with extra bids.
I started at quibids and used to win tons there but since they mainstreamed out there has been a lot more traffic there, but they also have the most to offer, ibid2save and AnniesBid are newer sites ive had luck at. And enoauctions also.
The best tips are like I said always learn first, watch some before bidding, and take your time.
Start small. You might be lucky and win. But it's like dealspl.us you make a reputation for yourself. And you'll get better.

Hope that helps!

seanselectric (rep: 167) posted Feb 10, 2012

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