Making money from penny auctions

I know everyone can and will pick this apart, so have fun. You have to be able to buy the products you are auctioning off at the price points you need in order to get the absolute lowest prices possible from within the channel. You should take a second look at what Nicholas is saying because he is right, I have investigated these auction sites myself, some are indeed a scam but others are legitimate auction sites that are actually large scale startups. Can you see where you’re true profits lie in your business? There are good points on both sides, but labeling something as a definitive scam is cause for debate. November 2, at pm.

Federal Trade Commission

Penny auctions might be a fun way to try to get big ticket items at reduced prices. But in many ways, a penny auction is more like a lottery than a traditional online auction. In a penny auction, you have to pay to bid. Before you know it, you could spend far more than you intended, with no guarantee that you’ll get anything in return. In a penny auction, the site owner posts items and you pay to bid for .

The Penny Auction Business Model

So I decide to do a quick review of how they work and the catch that almost always works against you the shopper. When it comes to online shopping , especially through auctions and bidding, penny auction sites and the way they work have been very controversial. It has been so successful at least for the companies behind them that there are now tons of very well-known penny auctions out there. They are becoming so popular and successful that companies like Beezid and DealDash constantly run ads on TV. On the surface, it looks like you can save money on everything — iPads, cameras, phones, designer clothing, jewelry…. To do a proper penny auction sites review, I spent some time researching and learning the idea and the mechanics behind these unique auction sites.

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How To Make Money The next eBay [PENNY AUCTION]

More Money Hacks

As was previously mentioned, a scam would be if the site said bid packs were free and then charged you. Dave says:. I would never give a first hand account of how football works, without playing a making money from penny auctions games, and knowing the game. So therefore, if you lead that very same customer to another auction where they can buy another product from you, the barrier to that sale is very low, since there is low resistance. I mean you have to cover costs. In the meantime, please feel free to search for ways to make a difference in your community at www. That keeps the clock ticking, and forces you into a bidding war to stay in first place. You repeatedly put up a small sum of money, in the hopes of winning a big payoff, at odds that favor the house. June 13, at am. November 21, at am. I tried researching the company but found. Fraud Watch Network Get tips and resources to protect yourself from fraud and see the latest scam alerts in your state. Hundreds of penny auction websites now populate the Web, and they all work very differently than more conventional online auctions, such as eBay. Join or Renew Today!