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 Replies: 24 / Views: 9,615 |
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Pillar of the Community
 United States
3670 Posts |
Nice fellow Dave here at this site below sent me 20 bids for liking his site on facebook, and they are on the up and up, as they still do bus via paypal. Once a site gets kicked from paypal, you know they are of the scam variety. And I like this site as they only deal in PM's....
Dear CommodityAuction.com Members:
Interested in receiving 20 FREE bids? 'Like' us on Facebook and you will receive 20 FREE bids. This offer is only good until the HALF Ounce American Gold Eagle coin
auction ends on July 4th, 2011, and is only available once per account.
Once you have 'Liked' us on Facebook we will place the bids into your account. To receive your bids quicker you may email me directly, after you have 'Liked' us and I will place your bids into your account personally. Our Facebook link is at the bottom of any page on our site.
Keep a watch on the HALF ounce Gold American Eagle coin on July 4th. We do not
auction half ounce gold coins very often.
Have a great 4th of July weekend and be safe.
Sincerely
David
david@commodityauction.com
Edited by Silverhawk74
07/02/2011 11:27 pm
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Pillar of the Community
United States
3670 Posts |
Another funny note pertaining these sites, I had an email come in the other day through ebay, from a gold coin collector who had researched these auctions and found this thread via google search I guess. He could not message me not being a member so he contacted me through ebay, and I basically told him don't do it unless you are gonna go big.... Anyhow, he was dreamin about some PM's for penny's on the dollar as well, lol.... Edited by Silverhawk74
07/02/2011 11:44 pm
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Valued Member
United States
397 Posts |
Penny auctions are pretty similar to just playing slots except if you get better at math you can usually beat the spread.
Chinch - In that type of auction usually they start at a specific price and each time you spend a 'bid' it reduces the price a little bit, eventually it gets down to a really low price and the person buys it.
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Pillar of the Community
United States
931 Posts |
I didn't win any gold but I won my wife a pair of Aquamarine and Diamond earrings plus twenty bids on BeeZid for one cent. Then I won a $200 pair of Oakley Sunglasses with a fancy case and two sets of lenses for 31 bids at .70 each. All of this started out with 60 bids that my wife had bought for $42 and she wanted me to do the bidding. I came very close to winning an iPad 2 also. The trick to the auctions is to wait until the timer starts to reset to 8 seconds as the auction nears the close. Before this the timer is resetting to 15 seconds every time. I also waited until there were only three people other than myself bidding. I figured between the flurry of the betting on a quick timer I had a 25% chance of winning and I did.When the timer resets that fast people are using up a lot of bids in a hurry, so you just have to have your bid in while the other three bidders are waiting for another guy to waste his bid to keep it going. I won the earrings for one cent by watching the auction start timer get down to zero. Usually people put a bid in way before the auction starts in case no one is paying attention to the start of the auction. In my case they weren't and I just put a bid in as soon as it hit zero. Instant win! I even got free bids and a badge for winning an auction with one cent. The earrings are actually solid gold with nice gemstones. The bids alone were worth $14. I doubt if I'll do anymore on those sites, but when I did I cleaned house for $42.
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Pillar of the Community
United States
3670 Posts |
Way to go JE, finally a winner.... I gave up, lol.... One site I found does give you a free 25 bids every day you log in, and more on special weekend occasions. I have over 600 accumulated, but you can only bid on certain things with these so called free bids, like real bid packages used to bid on the main site items. These so called "free bids" are not penny auctions either as just a chance to win the real bid package, the ones you must have to bid on good items like 5 oz. silver bars, or American gold eagles. They are like 50 cents a bid and climb up real fast in totals. So the 200 bid package which normally goes for like $150 bucks, you can get for $90, and that is NOT much different then putting in easy to find promo codes, which gives you a bid package discounts, lol. Another scam, you are still paying $75 to $100 bucks if you buy the bid packages, so about $.40 cents a bid instead of $.75. I did not buy the bid package of 200 I won for 90 something by the way, and the site threaten to kick me out next time. As if you win the packages, you MUST buy it. Again that is the small print, rof  .... Edited by Silverhawk74
09/06/2011 4:11 pm
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Pillar of the Community
United States
931 Posts |
They make insane profits on the auctions. I see $600 laptops going for $40. That's 4000 bids at .70 a bid. I wish I could sell a $600 laptop for $2800. The Oakleys that I won went for $6.48. 648 bids times .70 is a lot of money for a $200 pair of glasses. It must cost millions to set up the website and advertise but I'm sure that they recoup their costs pretty quickly with the profits they make on everything. I'm not about to go on another auction anytime soon. I'm gettin' out while the gettin's good.
Edited by junior e
09/06/2011 4:35 pm
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Pillar of the Community
United States
3670 Posts |
"$600 laptop for $2800." No doubt, what a racket....  Large legit sites connected to four letter networks like Skoreit must be making some amazing profits.... Edited by Silverhawk74
09/06/2011 4:34 pm
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Valued Member
United States
304 Posts |
There's one born every minute.
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New Member
United States
1 Posts |
its not quite the racket you may think. I was planning to start my own penny auction site because I had felt as you did after seeing all the scores they had made and yes the winning bidder did well too. The ol' win-win situation appealed to me. However after peeling back the onion I found most of these sites are losing a fortune every day, that why so many come and go. If you go to << Link Removed >> you can check out a good cross section of the sites out there and how they are performing (the ones with the highest rate of user return are the ones getting killed, conversely the best ones to win at). Anything more than a 97% rate of a return is losing money by my math. You can also select the details on a particular site and pull up a graph showing the average number of bids received vs the number of closed auctions during a particular time period. I used to lose almost every auction unless I was committed to go the distance now I'm cleaning up. Great deals are to be had you just need to do a bit of homework first. Hope this helps anyone considering starting one of these sites, its a very risky proposition.
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Rest in Peace
United States
9104 Posts |
 , mcoins!- How do you come up with 97% breakeven? My email is in my profile, yours won't work until you have 50 posts. |
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Pillar of the Community
United States
3670 Posts |
"I used to lose almost every auction unless I was committed to go the distance now I'm cleaning up."
Perhaps, but to go the distance one must commit a huge chunk of change. Like anything REAL in this world, it takes money to make money....
Plus, hundreds of clicks and many hours spent on the hunt. May work for you, just not for me. My fundamental thinking is to invest money in more of a sure sound thing like Pm or collectibles. Obviously there is no sure thing, I just like my mathematical odds better on things I choose to go after like the fore mentioned. Something I have no problem moving for a bit more later in most cases....
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Rest in Peace
United States
9104 Posts |
I've seen at least one site where you're allowed only five wins a month. That indicates to me that there's some way to beat the system. Some of their winning bids could not be profitable, paid bids or not.
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New Member
United States
1 Posts |
I dont know about other penny auctions, but commodityauction is pretty good. They dont make a lot of money and if you are good you can. Look at there winners for the last week or evan day if you dont have that much time and count all bids placed on items that day and multiply it by $0.75 and add up the items that where bidded on with the price of gold and silver not there prices and you will see it close to the same amount. I think they make there money on people bidding on bid packages. I have lost hundreds of dollars on this site, but I think its fun and I am learning how to win more than I lose now. If anyone knows about coupon codes please share.
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Rest in Peace
United States
9104 Posts |
, dyoon! |
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Pillar of the Community
United States
3670 Posts |
"I have lost hundreds of dollars on this site, but I think its fun and I am learning how to win more than I lose now."
To that I would ask how much gold and silver have you now in your possession, verses the exact total invested in the site?
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Replies: 24 / Views: 9,615 |
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Posted 07/02/2011 11:43 pm
