Penny Auctions
By deebomb
@deebomb (15304)
United States
April 26, 2012 12:30pm CST
I don't really know where to put this. Is anyone familiar with any of those penny auctions, like bidcactus, skoreit, Zeekler. 
As I understand you buy so many bids then bid pennies on Items. You lose the pennies that you bid even if you don't get the item.
Have any of you participated in any of these auctions? What do you think of them? Do you really get a bargain? Can you tell me how they work?
As I understand you buy so many bids then bid pennies on Items. You lose the pennies that you bid even if you don't get the item. Have any of you participated in any of these auctions? What do you think of them? Do you really get a bargain? Can you tell me how they work?2 responses
@rewardsinlife (1132)
• United States
26 Apr 12
I just looked this up last night because I kept seeing those commercials and that ipad for $1.50 looked enticing! :) First, these sites are legit. However....
You have to pay for packages for penny bids. For example, 50 penny bids, for $75.00, well I know I am not fabulous at math...but there is already a problem here if you are paying for 50 cents worth of bids for $75.00! Ok, other problem is that you have to have an extremely fast internet connection or you will keep getting out bid in the end. Also, they are not losing money, they are actually making double, triple or quadruple the amount of money that it costs originally. This is because people will spend all of their 50 cents bids and if you get 5 people bidding at $75.00 each...well there is already $375.00 for an item that maybe in reality is only about $150...you see what I mean. Not worth your time, or money.
1 person likes this
@deebomb (15304)
• United States
26 Apr 12
Tanks reward. yes I knew they were legit. I have seen bidcactus around for a long time. I even saw a TV contaminator clam
to get products cheaper on one of the sites. So I guess the old saying If it looks too good to be true it is too good to be true.
to get products cheaper on one of the sites. So I guess the old saying If it looks too good to be true it is too good to be true.
@ravinskye (8237)
• United States
26 Apr 12
I had signed up for one of them and used the free bids it gave me for signing up, then I quit. It seemed no matter what I bid on I kept getting outbid. I think that if you take into account how much you spend on the bid packets, you really aren't getting things for any cheaper. Yes you may win gift card for $10 cheaper then it's worth..but if you spent $20 on the bids you put on it..you really didn't win anything.
1 person likes this
