eBid

I have set-up an auction at eBid for a Garmin Oregon 650t GPS. It's not the GPS used in cars; it's for outdoor activities and mapping geographical areas. It's quite nifty to have and works pretty good if you want to know your surroundings. It is up for auction at a reserve price and I ship to the US only. Here is the link to the GPS.

Speedyfinger

Speedyfinger is a penny auction site that has been around for slightly more than 2 years. I've been bidding there more often lately since there are more bidders now. It is incredibly slow and very different from a traditional penny auction site. All of their auctions are reserve auctions, so you have to guess whether the auction is high or low. The most expensive item on the auction is the iPad, so the reserve price could be high or low. I made a lot in gift cards.

PA sites popping up everyday

Yes penny auction sites keep appearing everyday. I don't know how but looks like many people want to go into the business. Seems to be pretty easy but you still must have capital in order to start a business. Compared to other types of businesses, penny auction sites seem to be more affordable and cheaper than others. Maybe I should start up one and see how it goes then. Unfortunately, there are scams of these sites all over the Internet, so you have to be careful and determine which ones are legit and which ones are scams.

Some penny auction sites down

Well looks like some penny auction sites shut down for awhile. Happens all the time since they can't seem to make profits. Zoogboo is obvious anyway. monsterpennybids seems to give up on future auctions due to reserves set too high on items. Snaago has put their site up for sale on eBay, which means the site is in trouble (financial or legal who knows). What's really funny is that these owners show their other side (like Two-Face in those Batman movies)which is more dark and twisted. Doesn't matter anyway when there are countless other penny auction sites opening everyday.

I'll put up a list of penny auction sites you can rely on (hopefully) the right side. I really did win a few items, but cash deposited into your Paypal account is the easiest and doesn't require long delivery times.

1 year anniversary at Penny Auction Watch: a contest for free bids!

Looks like Penny Auction Watch is having their one year anniversary and celebrate it by having a contest to one lucky person. This person will be the winner and have free bids to many penny auction sites. The winner will have to chance to win a great item for a low price with those free bids. Penny auctions are the new wave of auction sites.

Penny auction sites: legit or scam?

I stumbled across some websites in my search for ways to make more money and found penny auction sites. Looks like another way to trick people into buying stuff, but then again showing proof is somewhat hard unless you have proof that you won the item. It works by buying bid packs which can be as low as $0.50 per bid, then you go bid on items that you want. Each bid raises the item by $0.01, but if you're lucky you win the item without a problem. Therein lies the problem, you're already buying bid packs and you're also competing against others who're after the same item.

The losers have to fork over their money for using bid packs and the winner pays the auction price plus shipping and handling. Seems to me that sites profit from losing bids easily and get more money than the value the item is worth. Some are incredibly lucky, but most of the time people lose their money due to bidding on an item too much.

Penny auction sites are incredibly popular in Europe and the U.S. seems to catch the fever. Personally I think it is just as addictive as gambling and you have to be incredibly fortunate to win something while the losers have to pay their bids (money) big time. It's hard enough to make money online when penny auction sites are appearing to entice people to buy what they want at a cost.