The Internet has many ways of having people part legitimately with their money, though not always amicably, websites that get the most complaints of this sort are usually the Penny Auction sites.
Google any Penny Bidding site and the first thing that will pop up on the searches are the words SCAM and Fraud. So are Penny Auction sites a scam?
I don't think these penny bidding sites, both old and new- are out to scam people. They would make more money by staying legit than ruining their biz reputation by scamming people. I don't think they actively manipulate the numbers and up the bids through shill bidding. I'm not saying these bad business practices don't exist. Of course, they do. But most Penny Bid sites are just like any tech startup, they have a brand name to protect. If they do get any bigger and can go head-to-head with auction giants like eBay.com - the last thing they need is a bad rep and being called out as a SCAM.
I would simply attribute the SCAM part as some whiny cry for help by a couple of sour losers (those with big losses from penny bidding and unluckily haven't won anything substantial from any penny bidding site). But why bother complaining? You can skip the bidding part on any penny auction site and just buy the product as is. The bid site will offer you a specific deal price for the item you want. You can actually get better deals off Penny Auction sites than in eBay.com or Amazon.com
So why not give Penny Bidding sites some love? If you get to dislike it, you can always sign out!
Google any Penny Bidding site and the first thing that will pop up on the searches are the words SCAM and Fraud. So are Penny Auction sites a scam?
I don't think these penny bidding sites, both old and new- are out to scam people. They would make more money by staying legit than ruining their biz reputation by scamming people. I don't think they actively manipulate the numbers and up the bids through shill bidding. I'm not saying these bad business practices don't exist. Of course, they do. But most Penny Bid sites are just like any tech startup, they have a brand name to protect. If they do get any bigger and can go head-to-head with auction giants like eBay.com - the last thing they need is a bad rep and being called out as a SCAM.
I would simply attribute the SCAM part as some whiny cry for help by a couple of sour losers (those with big losses from penny bidding and unluckily haven't won anything substantial from any penny bidding site). But why bother complaining? You can skip the bidding part on any penny auction site and just buy the product as is. The bid site will offer you a specific deal price for the item you want. You can actually get better deals off Penny Auction sites than in eBay.com or Amazon.com
So why not give Penny Bidding sites some love? If you get to dislike it, you can always sign out!
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