New Penny Auction Sites
New Penny Auction Sites pop-up all the time. People think that there is big money to be made by opening a New Penny Auction Site. I’m sure there is huge money to be made with penny auction sites but probably not when run legitimately. The owners that make the big money are the ones that do all the shill bidding and running up there own auction sites and stealing the users money. So why do so many people open up penny auctions if there isn’t enough money to be made running them honestly?
New Penny Auction Owners
Not all penny auction owners open up a new penny auction site with the intent of scamming users with shill bidding. Unfortunately though when they see that they are losing a ton of money without users bidding against each other and power bidders running there site and refusing to let new user try out the site then they feel that this is the only way to cover their losses and make a profit because they can’t accept the fact of failure. Others my just close the site and disappear without fulfilling the orders that are already out there. Last but not least some owners will actually do the right thing and refund unused bids and ship out all won auctions realizing this is not the right business for them.
Scamming Penny Auction Site Owners
On the other hand some New Penny Auction Site Owners open up a new site with the full intentions to scam their users by performing shills or bots that waste all the other bidders bids and that way they never lose money. How can you lose money if you always win the auction and never have to pay for bids right? It is a shame that so many New Penny Auction Sites do this. Yet another reason that it needs to be regulated and it may not completely prevent it from happening but I sure do bet that it would deter some people from doing it.
Should You Play At New Penny Auction Sites
Well, the plain and simple answer is NO you should not play at New Penny Auction Sites. I actually would suggest that you NOT play at any penny auction sites as it is really not the pennies on the dollar shopping that they all claim to be. They are a extremely risky and a pure gamble. Maybe just maybe you might get a lucky cheap auction win but more than likely you will end up paying way more than you intended and more than what you could have just bought the item for in the first place.