Sunday, June 13, 2010
Lots of penny auction sites appearing everyday: good, bad, and ugly
Since the global economic crisis, penny auction sites are the rage these days. Replacing traditional auction sites like eBay, penny auction sites give users the chance to win auction items cheaply but must buy bid packs in order to bid on the auctions. Unfortunately, scam sites keep appearing everyday in order to entice users to buy bid packs and waste their money on items they actually don't have. I learn the hard way after Zoogboo tricked over 300 people of their money and ran off. I was unfortunate as well and lost money from that site. You need to have good intuition about whether or not the site is legitimate. Visit forums such as Penny Auction Watch and PennyBurners to keep up-to-date on penny auctions.