Are penny bidding sites legit?

Are penny bidding sites legit?

“No,” says Colleen Tressler of the Federal Trade Commission. Her agency recently issued a consumer alert, warning about the pitfalls of penny auction websites. “Consumers get into problems because penny auction sites don’t work like other auctions that the consumer may be familiar with,” Tressler said.

Are penny auctions still a thing?

Penny auctions are still fairly new so it will be a little while before the FTC sinks its teeth into this problem. The Better Business Bureau Shows a Grade of A- for Quibids – You might be confused as to why this would be a bad thing but the BBB is nothing more than a paid service.

How do you win a penny auction online?

To help you get started, here are some smart strategies to help you win more auctions and save money on Quibids penny auctions.

  1. Start off small.
  2. Small ticket products give you big results.
  3. The cost of bids.
  4. Free bids & voucher bids.
  5. Set a budget.
  6. When to bid.
  7. Do your research.
  8. Power bidding.

Is penny auction legal?

At present the operation of a penny auction website in the United States is legal.

What is and why is it recommended to avoid penny auction platforms?

The main problem with penny auctions sites is that it is difficult to verify the sites’ legitimacy. Because these online auctions move so fast, consumers can lose a lot of money very quickly, even with legitimate sites.

Is Tophatter a legit site?

While Tophatter is a legitimate system, it is one that is open to abuse. This abuse goes both ways. The sellers and buyers abuse the system. The sellers abuse the system by buying items at incredibly cheap prices and reselling them at auction for very exorbitant prices.

Is Tophatter the same as wish?

The Tophatter app and 90 second auction website is growing in popularity as users look for a fun Wish app alternative. This is a free to bid auction site with fast paced auctions online and in apps for iPhone and Android.

Is Tophatter a ripoff?

Tophatter is a legitimate website with lots of issues. There are numerous complaints about the way the company has “ripped” sellers of their money. It is an experience. One that gets more real the more you dip in.

Are Penny bidding sites worth it in 2020?

Penny auction websites began their rise in popularity in the second half of 2010. They were booming in 2011 and 2012. They matured in the later half of 2013. Today in 2020 there are only a very small number of legit penny bidding sites worthy of your business.

What is the best bid tracking site for penny auctions?

BidTracker is one of the leading bid tracking sites online. Tracking DealDash and Quibids Auctions, all of the… read more This is a random reserve penny auction site. Customer service is very good and shipping is great.

Is this a random reserve penny auction site a scam?

This is a random reserve penny auction site. Customer service is very good and shipping is great. If you are new to… read more I was ripped off by one of these penny auction sites. They are complete scams.

When does the penny auction site launch?

Their official launch is Aug 1st but they have some auctions running that… read more Not sure about this penny auction site. I have won two blu rays on this site and a gift card to amazon. Its just… read more