Today: 5/10/2011 Brand New Apple i-Pad 2 (32GB) for $33.74

[Teh One Who Knocks]

[Pony]

[Teh One Who Knocks]

Seems legitimate to me

[Pony]

Oh, that's one of those penny auction places. Good luck winning any bids.

[RBP]

who wins them then?

[RBP]

hahahaha, nice link!!

[Pony]

who wins them then?

Somebody does win them, and at the advertised price. The catch is you pay a fee every time you bid and they reset the timer repeatedly, so even if you wait until the last ten seconds to bid they keep adding time to the clock. Basically if you get 50 people all bidding on one item each person ends up spending money for nothing save the one person lucky enough to win it.

Potentially you could spend hundreds bidding on items before you win one.

[RBP]

Somebody does win them, and at the advertised price. The catch is you pay a fee every time you bid and they reset the timer repeatedly, so even if you wait until the last ten seconds to bid they keep adding time to the clock. Basically if you get 50 people all bidding on one item each person ends up spending money for nothing save the one person lucky enough to win it.

Potentially you could spend hundreds bidding on items before you win one.

Clever, so they sell it at the cheap price on the back end but make a lot more on the front end through bidding fees.

Thanks....

[Pony]

Exactly. A lot of losers and only one winner and the house keeps a cut.

[Teh One Who Knocks]

hahahaha, nice link!!

[redred]

oh come on can i trash this?

[Muddy]

I'd love to have one of these fine products...

[Pony]

I'd love to have one of these fine products...

[Muddy]

I do man.. I like that friggin iphone contraption... I'd love to have a bigger touch screen to play Angry Birds Rio on...

[Goofy]

oh come on can i trash this?

Trash it and ban the OP