Anyone have experience with penny auctions?

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Hi everybody. I am new here, but I have already found enough great money saving advice to know that I will be a long time regular. Anyway, in my quest to save money and buy cool stuff, I have come across quite a few penny auction websites. For those new to this, an example is bids4lessstore.com
I used that site once and got a little more than half off a $40 visa gift card. Not bad, but I have also heard that a lot of penny auctions are a rip off. I am wondering if I just got lucky, or maybe this site is one of the few good ones?
Have any of you done penny auctions? Were your experiences good or bad?
I used that site once and got a little more than half off a $40 visa gift card. Not bad, but I have also heard that a lot of penny auctions are a rip off. I am wondering if I just got lucky, or maybe this site is one of the few good ones?
Have any of you done penny auctions? Were your experiences good or bad?
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