Penny Auction Watch is a blog with a similar objective to ours: to cover the penny auction industry and provide participants with timely, interesting and objective news and advice. They've been around since late May have have put up lots of good posts since then. Check them out for a good overview of the penny auction universe of the last few months. I especially enjoyed their post about RockyBid's car auction that went for $1.24. I think they lost money on that one :). Penny Auction Watch has also exposed some unfair practices of a few penny auction sites, so this would be a good starting point if you are new to the world of penny auctions.
Updated Friday, July 24th 2009....
And now RockyBid is trying to swing their huge loss on the Honda in their favor, by letting people know via Google AdSense just that.
It's funny because I'm sure anyone who doesn't know about the situation - that RockyBid really did sell a car for $1.24 (and lost over $20,000 in the process) - would think it was a HUGE scam. A scam like those - Work from Home! Make over $15,000 a month! Anyone can do it! It's so easy! Just come to our seminar! It only costs $200! - type of scams. Or those - free MacBook pro! just fill out our customer feedback survey! We promise we won't sign you up for hundreds of recurring fee services like fruit of the month club and automatically charge your credit card! - type scams. But it's not, someone really did get the deal of a lifetime on Rockybid - and I'm sure the executives over there were crying when that happened. Here is a video of the winner with the car
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