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Penny Auctions -what do you think?
 

Does anyone do them???

I got addicted to one of them...When I first started I lost a lot of money... but then I learned my lesson, got some experience...Now I can get things at a decent price...About 1.5 month ago i won Wii Sports Package System for just $45 including shipping, then i resold it for $210 on ebay... I was wondering if anyone does penny auctions here and then resells stuff...

Yeah I do them also. It does take some time to get the hang of it but once you do you can score some good products dirt cheap

You are right. Yesterday I was amazed to win an Apple TV (160GB) for $3.80 plus $4.20 in bids...The shipping was $24.95..Its retail price is about $200.:humble:
The only thing is it is like gambling ;) You get addicted too fast and if you can't control yourself, it's gonna be a waste of money...

p.s. Now I wonder how I can use this Apple TV or better sell as none of my stealth accounts are running yet...I am still solving my Ip problem :(

Nope. What's the website?

I would keep it you can crack them and play all your downloaded movies and tv shows on them right now i have 600 movies on mine pluse 12 complete tv shows you cant beat it!!!!

Thank you BigMac for your advise! I don't watch TV tooo much and if I do it's more Russian channels...:)
Anyway, the info is helpful, thank you!!!!!!

If you are a good boy, I'll whisper its name into your ear ;)

p.s. OMG, I am in a playful mood :) LOL

Although this site isn't quite a true penny auction you can score some good stuff pretty cheap. It is bidcactus.com. I've gotten a few $100 gift cards off of them for under $10. The shipping is rather slow though

Interesting, I've never dabbled into penny auctions.

I guess because I can't see how someone would sell and SHIP an item worth $200 for $40 ? How do you guys manage this?

someone wanna tell me the site?

bidcactus.com

seems too good to be true a 100 dollar walmart card for $7? come on... i know the initial startup of 18.75 is the investment... but seriously? And you're kidding yourself if you think they don't have bots auto bidding to up people.

hard to understand, i know they make money off each bid but looks like its kinda hard to win. Unless your in a bidding war with one guy and seems like the only way you will win is if he runs out of bids before you...

You have to know how to play them. I won a $200 gift card yesterday. It sold for $30. I spent about $100 for everything ...including bids, shipping and its final price. They made $210, so $10 profit... Another scenario -- I also won a $125 gift card for $40...here I screwed up :( I paid a little more than its retail price plus shipping. I did that because I didn't want to lose all chips that I spent on it. They made $280 with $155 of profit. So, this website is good when you have patience, don't bid like crazy and don't have a glass of wine in your hand :)

Penny auction sites are making a KILLING!!! I use beezids.com sometimes, I don't mind sharing ;) I bought a Macbook Pro for $145.00 plus $25.00 shipping and $19.00 in bids = $189.00 for a $1600. computer- NOT BAD AT ALL!!! On the flip side.... every bid for 1cent that built up to that $145. winning bid, beezid charged approx $.75..... SO, 14,500 bids, at .75 per bid, + $145. final bid,= $11,020. - $1600 (RETAIL cost of Macbook pro) = $9,420. in PROFIT for beezids off that ONE item!! GENIUS!! I didn't mind, I got a SWEET deal for only $189.00!

Oh I see all the players have to pay up so even if you win at a low price the other looser's still pay up for trying. The auctioneer never looses.

Exactly!!! ;)

Is there any other site better than this?

:shocked::shocked::shocked:
WOW i hate you

Great Article about Penny auction theory.

An All-Pay Auction - Freakonomics Blog - NYTimes.com

I'm going to auction off a $20 at my next family gathering.:bounce:

ebids lol
i want to know the website too

not fair

how do you search for penny items?