Penny Auction aka Reverse Auction

Sonny Forelli said:
except they're not doing that, they're instead making sure they don't lose with technology that autobids when no human consumers are present bidding any longer up to a break even point.


of course the few lost leaders are planted.

doesn't exactly seem legal- and I see various agencies cracking down on this model hard.
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I see....by auto bids I thought those were automatic bids for actual registered users. But I see how they could get to break even easily with their own automatic bids....that seems like it would be illegal to me too.
 


IIRC, Shady is expert with penny auctions (or the idea behind them). If you ask him nicely, and promise to compensate him at a future date, maybe he will help you.
 
Sonny Forelli said:
doesn't exactly seem legal- and I see various agencies cracking down on this model hard.
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Most sites like swoopo position the site as "entertainment shopping" (in other words you're paying for the thrill of the competition as much as the bargain) to try and provide some cover against charges of shilling and price manipulation.
 
it's not a reverse auction though. A reverse auction is where the prospective buyer posts the good or service they are interested in and the vendors participate in an auction process to win that business. ie One (buyer) to Many (vendors) as opposed to a standard auction which is Many (bidders) to One (product/vendor)
 
justo_tx said:
Most sites like swoopo position the site as "entertainment shopping" (in other words you're paying for the thrill of the competition as much as the bargain) to try and provide some cover against charges of shilling and price manipulation.
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I'm waiting for some AG to make the case that it is "gambling" instead.

And if they get big enough, especially with the enrollment charge burried in T's / C's IMO this will happen.
 
Sonny Forelli said:
I'm waiting for some AG to make the case that it is "gambling" instead.

And if they get big enough, especially with the enrollment charge burried in T's / C's IMO this will happen.
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Yeppers, this is exactly what kept me from jumping on the penny auction bandwagon. Eventually the damn government will 'protect' us.
 
BigWill said:
nub

.
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I know right?

It's like rebills all over again including the one dickhead who can't do his own research and figure it out on his own, who then posts in STS for all the lurking noobs to see and dissect.

Oh well, guess my $XXX,XXX a month is soon gonna be $XX,XXX thanks to market saturation due to this thread.
 
Sonny Forelli said:
I'm waiting for some AG to make the case that it is "gambling" instead.

And if they get big enough, especially with the enrollment charge burried in T's / C's IMO this will happen.
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There is already rumblings of the government trying to do this if 2008-2010 was the acai era, 2010-2012 might just be the penny era. penny auctions and penny stocks. These offers are hitting their caps each day in most networks just like acai did in early 2008.

If penny auctions see the same level of volume acai did expect someone to step in and attempt to regulate it
 
Kaoswithin said:
I started an adult penny auction site. Absolutely no autobots or shill bidding. Give it a check. Free bids upon registering. Refer people an get more free bids. Cheap bid packs starting at $6.
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just won coochie critters volume 5 for only $0.82! Thanks porno4pennies!

my jergens awaits!
 
But they are banking hard.... They are all over the places.. I mailed them to mail me when they to start to accept affiliates.. They said "not now"..
 
First post here!

My name is Nicholas, I run http://www.PennyBurners.com (:banana_sml:) which is geared towards finding and promoting legit sites, while punishing the bad ones.

We have shut down 3 scam sites, and are working on many more.

This seems like a place I can get used to :D

blogspotter said:
But they are banking hard.... They are all over the places.. I mailed them to mail me when they to start to accept affiliates.. They said "not now"..
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So far, I know of only 1 penny auction site that does affiliates.

Zeekler - Win TV's, Kindle, iTouch, Cars and more... at incredible savings!

They are a penny auction/network marketing mash-up. We are starting our verification process of this company now. They have been open for a while, but we found them just a month ago.

Anyone interesting in venturing into penny auctions can check out our "Verified Penny Auctions".

PennyBurners makes no money from advertising, verification, or ads on the site. It is 100% free and is the work of a small group of individuals who want to help the community. It's hosting and all costs are paid for privately by the owner (me).
 
My post (above) was recently approved so I am not sure if the user I quoted saw it, so I am bumping this.

A month later, and Zeekler is still the only site that has a true affiliate program.
 
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