Penny Auctions" Fact or Fiction" part II of a VI part series

Jan. 5, 2010 - PRLog -- We go over why penny auctions are better than ebay

Why settle for slow auctions like ebay when you can go straight to live penny bid auctions and win right away?
You can sell thousands of items, but which are the best things to sell on eBay? Hopefully I can supply you with some creativity to get your thoughts flowing.
If you used to be a customer ( which you are, ) what would you purchase on the internet? ( I’m sure you’ve acquired something online before )
What would you purchase YOURSELF?
These are the types of questions that you have got to ask yourself or anyone that wants to buy something online, as it provides precious information that you can use to generate income by selling the things on eBay that will solve people’s’s issues.
folks go to eBay looking for something that will probably either create pleasure or solve a difficulty for them.
And yet another way to put it :
shall we say that you’re looking for a red ball. You go to eBay and type in RED BALL.
Would you be ecstatic and settle with that? No!
here’s a short list though to further spark your creativity on the best things to sell on eBay :
– Phones ( people are constantly looking for the newest phones )
- Sports equipment ( Rackets, etc )
People are always buying these, and if you can get them for a fair price yourself then you can make a killing! Here is a hint : iPods, mp3 players, and private media. Those sell like fire, and people will always desire them!
1 Cent auctions are hard to find now adays, and if there not hard most can’t be trusted. Penny auction talk with random person

auction talk with random person
Interview with a John about penny auctions :

What did you know about 'penny auctions'?

Penny auctions are a source for great products!
you buy packages for bids that you can use for expensive products. It is a inexpensive way to shop, I have been in bid wars at a lot of different penny auction sites and so far PennyBiddr has given me the best opprotunities. I have won some items valued in at over $800 in total for only $20!

What are the con's and pro's of online penny auctions?

I believe the pro's are you can win a Nintendo Wii for rather less than $8 and the con's, well the only con I will see is if you get into a bid war with someone. Then it's all about who has more bids or who can bid at the last 2nd.

Would you recommend online auctions to friends?

Absolutley yes! I am in love with auctions and think of them as a very good source to grab Nintendo Wii for dirt cheap. I know some of my friends are already hooked, they have been going crazy over at PennyBiddr and winning stuff left and right. I think the website is going to soon have a win limit, remember reading a news article about them coming up with an idea. One of my friends is a online adict and has told me about some sites to be cautious about, mainly "biduh".

All in all, do your research before bidding.

Richard Thaler on Swoopo.com and the rise of the penny auction
By nudgeblog
Richard Thaler’s latest Economic View column ponders the attraction of penny auction sites like Swoopo.com that let people bid for merchandise in one cent increments, while charging them lots of cents for the right to place a bid. In the end, the winner gets a great deal, $20 for a laptop or $15 for an iPod, with the rest of the item’s cost (plus the auction site’s profits) paid for by losing bidders. Consumer electronics aren’t the only items Swoopo has put up for bid.
Swoopo has even sold cash using this format — specifically, checks for $1,000. My colleague Emir Kamenica and I looked at 26 such auctions we found in a data set posted on the Swoopo Web site. For each of these, the average revenue to Swoopo was $2,452. Winning bidders also did well: Of the winners, all but two made money even after accounting for the cost of their bids, with an average profit of $658. Still, the important point to remember is that, collectively, bidders are losing money. Only the lucky last bidder is a winner.
Swoopo also has put up blocks of bids for auction. Since these bids cost Swoopo nothing, every penny earned is pure profit. One recent auction for 50 bids ended with a winning bid of $.60.
Sixty cents also happens to be the amount Swoopo.com charges people for each bid placed. As Thaler observes, it wouldn’t be hard for smaller competitors to come in and undercut Swoopo’s price. On the Times web page for Thaler’s column, three of Swoopo.com’s lesser known competitors are advertising through Google’s web ads. None of them seem to be competing with Swoopo on price: BidRodeo ($.70 per bid); Bidfire($1 per bid); BidCactus ($.75 per bid). Hard to imagine what else they are competing with Swoopo on. Free shipping? Strange, indeed

# # #

We are a penny auction site offering Name Brand items for auction at an almost 95% savings from retail store prices. A most significant difference between swoopbug and most other auctions is we deliver all our merchandise from our own warehouse..