Added: 7 months ago
From: TheMoneyEngine
Views: 2,722
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  • He kept saying the seller made $17,000 (17 thousand) when he meant to say $1,700 (17 hundred). Other than causing some confusion... great presentation.

  • @freedom29907

    Wow, yeah thanks for pointing that out! I'll leave a note in the video, lol.

  • They're geniuses. The I pad sold for $28.37. So thats about 2800 bids which are 60 cents each right? So that means that the site made the 28.37 + about $1700 from the bids spent. Is that how it is? That's the smartest thing i've ever heard I wish I invented penny auction site.!

  • no one wins at a penny auction (just the auction itself) what i do is buy quality jewelry from isaybid for usually under 20 bucks and resell it on craigslist for a 500% mark up! Easy money and quality jewelry stay away from penny auctions and grab some nice quality jewelry for real pennies on the dollar!

  • @SwimistaFashions I've win at penny auction sites all the time, it just depends on which site you go to. Most of these sites are scams though, it's really easy to use bots to run up bids. Finding real and trusted sites is vital to penny auction success.

    I have tried the jewelry method you speak of as well, but it's hard to sell jewelry to people because people really only trust proven jewelers. It is a good method though, I got awesome jewelry for ridiculously cheap at bidz.com

  • @junesparkswkr

    I win all the time on Quibids! The iPad I use I actually won for like $17 and used about $50 worth of bids, so with shipping and everything together it was right under $80 for something that retails for $500! Sometimes things don't go my way and I rush into auctions (slight add problem, lol) but thank God for the buy it now feature!

    I know this all seems hard to believe and people might call it a scam, but when you win your first pair of Oakley's for 1 cent you'll be a believer!

  • I wonder how much these sites make in one day. That's crazy. Earning out of someone elses expense? Pretty much gambling.

  • Wow! They earn $1200 from just selling one iPad?

  • I should probably start my own penny auction site.

  • Cool stuffs. This is like a presentation on penny auctions. Great job!

  • This is much more interesting than bidding on eBay.

  • It's crazy when some people bid till up to $1000. It's crazy. Imagine how much they are earning.

  • Where can we get the skills for this? Sounds really interesting!

  • Nice! I've used the app for a couple days now and it really gives me a great advantage. I just need to study for one more week and I should be doing great!

  • Haha, nice! Thank you for clearing things up for everyone.

  • I've actually been addicted to penny auctions before.

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