Have you seen the penny auctions?

@Lukkyr (67)
United States
November 30, 2009 3:57pm CST
Have you looked at the penny auctions online? They have good deals. Do you like them? Which ones do you like the most?
1 person likes this
4 responses
• United States
16 Aug 10
yes last night i biought an ipod 80 gb for $9.73 and i did not pay for bids.. there are so much stuff to buy that you get addicted. you should try it.... the website that i use is on a a website that of my profile. give a try since it's free to sign up
• United States
1 Jun 10
I like the idea-- but it's very hard to actually win something. If you're trying to be careful with your money, it might seem like a good idea to do something like this-- but, if you have to pay per bid, and you don't win... It's not going to be a good deal. Plus, like someone else said, you have to pay for packages of bids-- between $0.60 and $1 are the most common I've seen. Basically, if you are bidding on a $50 gift card and win it for $2, you're not JUST paying the two dollars for it. I'll use an example from the website I was just at-- The winning bid for a $50 Kohl's coupon was $5.74. The person bid 13 times, which cost them $7.80. That means the person saved, according to the site, $36.46, which would be a 76% savings. However, I tried to bid on that, too. I LOST $21.60. There were several other people who bid MORE than me, which means they lost even more. All of us were bidding on the same gift card, which means that website made a NICE profit for that card. Most of us lost money on it. The good thing, with quidbids.com, is that many items have a "buy now" option. Because I already spent that $21.60 in bids, I was able to apply it toward the $50 gift card. Shipping charges apply, but the rest to pay was about $30. Doing it that way, I don't completely lose out-- and since it is going to be part of what I'm giving my grandmother for her birthday, I would have gotten it anyways. Still, I made a few other losing bids on items that I'm not going to use the "buy now" option for. All in all, I feel like I was taken in by the excitement of the site. Unless you are willing to buy the item whether you win or lose the auction, it is NOT a good deal.
@cyberfluf (5005)
• Netherlands
23 Mar 10
I am not sure which one you are referring to. I know about actions that start out at a penny, but the raise higher prices in the last hours and even in the last couple of minutes they go up very fast. There are also auctions that are won by the lowest unique bidder; so bidding 0.01 has a small change of getting you it because everyone will try it. It's a private auction so you can't see what everyone else offers, you will get a text telling you whether or not you are the lowest unique bidder. I do like auctions that start off at a penny, but not the second type. It costs money to bid (up to 20 cents per time) and the chance of actually winning the auction is small.
@regal_aeros (2606)
• Singapore
28 Jan 10
yea.. i'm very interested in it. But the packages to buy the bids are a little too pricey for my liking.