Watch Out For Penny Auction Sites!

jimlevitt

Just wanted to warn everyone out there that you should only participate in penny auctions if you're willing to lose money and not win anything. That seems to be the way they work. I was taken in by a review on this and I ended up losing money. I don't recommend participating in any of these sites! I know I won't

Dave101t

well durr!

CHR15

Anyone stupid enough to think they are genunely going to win someone quite frankle deserves to lose.

How can anyone not see it as a complete scam??

nomoneytoday

Many of these are glorified raffles for the terminally greedy and/or stupid IMHO

Azari

nomoneytoday wrote: »

Many of these are glorified raffles for the terminally greedy and/or stupid IMHO

They are much worse than raffles because they play to the instinct of people to 'protect their investment' (aka throwing good money after bad.)

trumpton

Plus they are basically gambling, which is hugely addictive.

fadetogrey

trumpton wrote: »

Plus they are basically gambling, which is hugely addictive.

hugely addictive?? bet you a fiver its not.............:cool:

AndyNotts

Thanks. I was interested (maybe not know). I got hold of a comparison spreadsheet from one of these sites and couldn't believe some of the figures some companies make. it seemed to be reporting figures correctly which was a refreshing change. Maybe some are better than others