Penny Auctions -what do you think?

[ptenchick]

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...

[cardfelon]

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

[ptenchick]

Originally Posted by cardfelon

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.
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 :(

[OfficialGenius]

Nope. What's the website?

[bigmac]

Originally Posted by ptenchick

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.
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 :(

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!!!!

[ptenchick]

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!!!!!!

[ptenchick]

Originally Posted by OfficialGenius

Nope. What's the website?

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

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

[cardfelon]

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

Originally Posted by OfficialGenius

Nope. What's the website?

[hitch]

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?

[lulbert]

someone wanna tell me the site?

[OfficialGenius]

Originally Posted by lulbert

someone wanna tell me the site?

bidcactus.com

[HurricaneHuntr]

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.

[lulbert]

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...

[ptenchick]

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

[Eye Candy Lingerie]

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!

[Hercules]

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.

[Eye Candy Lingerie]

Exactly!!!

[incniu]

Is there any other site better than this?

[lulbert]

Originally Posted by Eye Candy Lingerie

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!

WOW i hate you

[hitch]

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.

[siccspitz]

ebids lol
i want to know the website too

not fair

[bigmac]

how do you search for penny items?