Do you know why the there is new penny auctions websites popping up frequently?
To clarify, my objective is not to oppose any penny auction websites because I love it, I did won many items and it gives me some kind of pleasure when I hunt to buy something cheaper.
On the other hand there are many websites who have shill bidders or computer programs to out bid you every time when you place your bid, thus making artificial competitor for you and make you to pay more than actually you suppose to.
I am the one who suffered by the many scamming penny auction websites and with my experience I will help to other online communities to not fall prey for them and the birth history of the blog is to bring some scam websites to the world.
some claim that it is entertainment shopping, fun shopping etc,. but to me it's a another form of modern gambling making use of latest technologies.
I've no second thought in that, yes it's GAMBLING for me and you decide to gamble or not and am not interested in endorsing that these websites are genuinely serving the purpose.
Many websites manipulate the bidding and some call it reserve or margin whatever but that is unethical and can't see some people scamming away by doing fradulent activities.
I am not a big writer,industrialist,entrepreneur,psychologist,etc,.
An average common internet user but a keen watcher.
Few of my thoughts, why do every one interested in doing this biz?
1.Utilizing human's greedy mentality.
2.Easy money in short term.
3.Can have virtual human's to bid against real people for big profit margin.
4.No physical shop or store front.
5.Websites can exploit money from any part of the world.Thanks to presence of internet and www.
6.Someone from UK can exploit money from US, as matter of fact anyone from anywhere can cheat just by having there own terms and conditions saying UK law will be applicable bla..bla..
7.Single handedly a person can handle the entire business just by buying clone/script.
8.Most of all if they think at any movement they can shut down there website and move on in creating a new website layout and with new domain name they will start again.
Happy reading !
Feel free to post your comments.
Note:- ibidderz - people who follow penny auction websites closely and talk about them and infact trying out to win items as well.