penny auction
penny auctions
penny auction site
penny auction sites

Finding the top penny auction sites online can often prove to be a difficult task. After all, how does one know which are scams, which ones have too many competitors, which ones actually ship their products to the winners, and so forth? There are numerous time consuming (and sometimes money consuming) techniques that will allow you to weed out which ones are worthwhile. For six years I have followed the penny auction business online. I have watched them pop up all over the web at alarming rates. Then, in an attempt to promote their sites, penny auction owners bought more sites posing as news reports, or critics giving them great reviews. Therefore, when you see a website that claims to know which penny auctions are best, take a minute to consider that an owner built this simply so he or she could rank themselves number one. For every fifty penny auction sites, forty-nine are not trustworthy. So be careful and purchase bids at your own risk.

Which companies are legit?
There is only one way to be completely certain if a penny auction site is legit. And that would be to purchase bids, win the item, and have it shipped to you. Unfortunately, this bit of trial and error involves losing a good deal of money. After six years of tracking all of my spendings and statistics on hundreds of penny auction sites, I have lost my fair share of income. However, now that I know which ones are the real deal, I am quickly starting to earn back everything I have lost. The following list and statistics I provide are strictly for the purpose of saving you from the trouble I have went through. Not to mention, I would hate to see another dime go into the pockets of a greedy scam artist.

Penny Auction Statistics
Over the years I have compiled a spreadsheet tracking my analytics on every penny auction site. The same strategy was used for all of them. First, I targeted which products I want and waited to see them sell three times. An average selling price was calculated. I then purchased at least 100 bids, and waited for the item to pop up again. Once it hit its average price, I placed all 100 bids until I either won or ran out of bids. Finally, a score would be assigned to that company.

The score of each site would start out at 100. With each bid I placed, I subtracted 1 point from the total. Therefore if I was bidding on a Macbook, bid 40 times and won, the website I won on received a score of 60 (100 beginning score minus the 40 bids used). The majority of the penny auctions scored a zero as all 100 bids were used without winning. This was done for 5 items on each site. The average score overall score was then calculated. So if Ishop4Cheap scored a 12, 22, 0, 70, and 4, for each of its items, it finished with an average of 21.6. Over the course of 2,243 days, I ran these calculations on over 200 companies. The following list consists of the top 5 scoring businesses.