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.

Be careful of buying bidpacks with Paypal

Looks like buying bidpacks with Paypal didn't turned out so well after all. When Zoogboo went down for good, people are scrambling to get their money back from buying those bidpacks. Unfortunately for me, I couldn't recover them since mine was cash instead of credit card. There is no protection for buyers since you're just buying intangible goods. Just be wary of buying bidpacks using Paypal instant transfer. Now I'll never recover my money again unless there is some way to recover them. Even I filed a dispute and escalate to a claim didn't help because the seller was using an alias instead of his real name.

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.

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.

Bad rumors around Zoogboo

There have been disturbing rumors around the penny auction site Zoogboo. It seems their site seems to have problems with showing history of past auctions and showing who the previous winner is. Also, the winner of the auction should have been the last person who placed the bid, but instead it is the second person below it.

Customer service is another story as well. It seems that the site owner only responds to certain emails, but ignores others or goes into the spam folder. Some of the winners claim that the site owner doesn't respond to their emails and shipping goes out for these items with tracking numbers. Many other penny auction sites have taken steps to take care of their customers instead of ignoring them. Penny Auction Watch and Pennyburners warn people to avoid the site, but there are still people bidding on the site.

I personally avoid the site until Zoogboo overhauls their website with dramatic changes. It seems the programmer didn't do a good job of the layout and past auction history is missing to determine who has reach their limit.

Strategies and tips to winning penny auctions

Ever wonder how you could win those items at penny auction sites so easily, but while everybody else throws their bids away at high-priced items? Here are a few observations I notice from penny auction sites.

1. Most sign up with the same username on multiple sites, establishing a reputation among bidders.
2. Bidders are more likely to win on PA sites that receive less traffic compared to more popular sites.
3. New PA sites keep popping up everyday and many bidders will go to the new site to win easier.
4. Juggling between PA sites is risky if the auction items are going to end at the same time.
5. Study your opponent's patterns on various PA sites and make sure they're about to reach their win limits.
6. There are always jumpers in PA sites, so you have to outbid them easily. Otherwise, that one jumper could've won the item with a free bid.
7. Do not go into a bidding war knowing you will lose your money and bids fast. This is the number one reason people seem to forget.
8. Throwing one bid when a new item appears is a waste since other people will always bid on the auction item in the end.
9. You got to have a plan and strategy to winning the auction item. If your opponent has won bid packs and cash, then they will most likely go after the high-priced items.
10. If you still can't win an item from a penny auction, then you haven't been studying hard enough to figure out your opponents' bidding patterns. You can't charge in there blindly and win.

Hope these tips will help you. I approach penny auction sites with caution since most of the winners don't seem to have jobs which IMHO is a waste of money since all they're doing is racking up credit card debt real fast. They have to sell their winnings in order to make a decent profit. Don't take PA sites lightly since they can be addictive (similar to gambling addiction).