The bid move is fixed. Penny Auctions (curiousgnu. The last bidder wins the item, and the price increases with each bid. banknotes in 2020 totaled $50. The 1909-S VDB is a coin that fascinates people of all ages. We understand that every individual is unique, which is why we create customized plans that fit your specific needs and budget. Penny auction sites: The house always wins. The number of observations and some statistics to compare the orders of magnitude are given in Table A. FARM FORECLOSURESDuring the Great Depression, farm foreclosures became a disturbingly routine feature of rural life. A penny auction is an auction with a price increment of $0. Etymology. Penny auctions sites work like any store or online outlet. Downloadable! I study an auction format called penny auctions. June 14, 2012 by Mike Szczys 11 Comments. 01 by submitting a bid. DealDash, an auction website that puts items up for sale for pennies on the dollar. They need to have a good distributor providing them goods. 58 for an item that would originally cost. (PAS) is pleased to announce that it has signed an investment agreement with Kodiak Capital Group, LLC of New York City (Kodiak) for a $10 million equity line of. It opens up far too much risk for there to be any decent payout. Our team of experts is committed to providing top-quality services using the latest tools and techniques. Yuan, K. , Fairfax, VA 22030 and our auction location is 1144-D Walker Rd. And sometimes the bank would just suspend the. 0. It was founded in 2008 by Juha Koski, Madhur Srivastava and Daniel Rovira. Penny Auction Product Statistics Services That Exceed Expectations. However,. )Penny auction sites are skyrocketing into the peripheral sites of digital users left and right. S. Penny start auctions are great for showing true market value of the item for sale. They run pretty close to being illegal but one of the issues is they are advertised as auctions when they are not really auctions. Penny Auction Solutions Overall Stats. Once time expires without a new bid being placed, the last bidder wins the auction and pays the amount of that bid. Click the “Bid-Ninja mask” icon to the right of the URL bar to see a list of Quibids & Dealdash penny auctions. They say in a disclaimer that the stats are basically used for entertainment purposes only and that its our job to determine the validity of them. g. Sign up Log in Android Apps > Shopping > Penny Auctions. In a penny auction site, a consumer pays a membership fee and then buys bids he or she can spend on auctions for consumer goods. We. Running a profitable penny auction is difficult, however. Open-source frameworks have lots more eyeballs looking at the code, fixing bugs, adding extra features, and documenting the project. Did you see that? These students allege that human net loss to the penny auction site has totaled over two hundred sixty thousand dollars!. Free DealDash Statistics. -H. Penny Auction is an app developed by Bahruz Ahmadbayli. The modern history of auctions emerged in the mid-1700s, with pivotal events shaping the landscape. Est. Loser can pay more than a winner. When the clock finally makes it to zero, you win. (Like Lee from the blue sight and a handful of others. An online experiment was implemented to examine the proposed. In general, a penny auction is run by starting the bidding at $0. These auctions are call "Penny Auctions" because each bid raises the final price of that item only $. read more. It’s a kind of game auction where participants pay a bidding fee each time they make a bid that is not refundable and participate in the auction. Organized farm families would make sure the only bids offered were from their own, hand-picked bidders and the bids would only be a penny for land or livestock or equipment. Their main focus is on attracting as many customers as possible. They caused loss and hate towards farmers. 3208 posts · Joined 2011. Design / My experiment was designed to closely replicate the format and interface of a typical penny auction. Each bid typically costs 25 cents to $1, so a pack of 100 bids may cost $25 to $100. However, placing such a bid is costly whether or not you win. - PR11446572 Penny auction, an emerging popular auction mode, requires bidders to pay for each bid. The eBay HQ Building Names Reflect Categories on eBay. These websites offer discounts on many brand name items, but the consumer. Most free penny auction bid programs are designed to draw back bidders, the same way that casinos do to draw back whales. 1 review for Auctioncents, 5. Some have felt that these auctions are the epitome of “if something sounds too good. You can’t argue with the penny. I've won some really great items at amazing prices. Since its mechanism is different from traditional ones, the results of past studies may not be applied to. Apr 1, 2013 - AllPennyAuctions is a comprehensive database of penny auction statistics on bidders, items, and auctions that makes it easy to forumulate winning penny auction strategies. Penny Auction Player Statistics Strategy – BidPanther Penny Auction Player Statistics Strategy. Dublin, May 04, 2021 (GLOBE NEWSWIRE) -- The "Global Online Auction Market: Size & Forecasts with Impact Analysis of COVID-19 (2021-2025)" report has been added to. 93 on say a gift card to your favorite department store, this means 593 bids were placed by all of the bidders that participated in the penny auction for the gift card, but bids aren´t free and the winner most likely didn´t get the gift. By penny auction here we means sites which ask the people to bid pennies and in return they can shop in very. SkoreIt. Get a winning advantage with the All Penny Auctions penny auction database - exclusive information, analysis, bidder stats, and more! 0 :DealDash was founded in 2009 by William Wolfram, a 16-year-old Finnish entrepreneur, who had lost $20 bidding unsuccessfully for a MacBook on an earlier penny auction site. Frameworks. Hi! There are so many penny auctions and sometimes it is hard to know whether a site is a scam (with bots & shill bidders) many programmers sell scripts with autobot features to make it appear like there are many bidders on an auction, this is totally fraudulent but a lot of them don't care and are out to make a quick buck. Wolfram had generated approximately $500,000 in affiliate sales a year earlier buying popular YouTube videos for $50, borrowed from his mother, then collecting revenue from. Once the clear industry leader, Quibids is a distant #2 to Dealdash. QuiBids. A penny auction is a relatively new auction mechanism run by multiple online com-panies. Penny Auction Hacking; Put On Your Statistician’s Hat. Our Story. CoinNews. ” Penny Auctions combine the thrill of online shopping with gaming and intense bidding, to form a highly captivating and enriching experience. Please keep in. The platform may support various auction formats: classic auctions, reverse auctions, penny auctions, etc. Back to "Main" tab, login in the website and enter a auction page. Maybe some combination of all. struck auction gold with a copper. QuiBids prides itself in being the beacon of moral and ethical business practices in its industry and defines success through the. The main Swoopo auction types that are relevant for this paper are listed below. 50 to $1. If you’ve never used or seen a penny auction site, let me break it down for you: there are various items, some big ticket and some small ticket, that are offered up for auction for “only” pennies. The technical storage or access that is used exclusively for statistical purposes. Evaluating Strategies for Penny Auctions Using Multi-Agent Systems. To "win" a product, shoppers must first buy a bundle of 10 to 700 bids for 60 cents to $1 each. Premium Statistic. We recommend taking advantage of free bids, but not basing your entire bidding strategy behind it. For matching different argumentations concerning empirical evidence and statistics we propose an approach of using multi-agent systems for evaluating penny auctions. When the sale is going to end, Gixen places an offer for you. Hundreds of thousands of farm-owning families had their hard-earned land seized from under them. Swoopo (TeleBid) One of the early penny auction sites; popularity waned over time. display = get_style21104 (); } One of our readers sent us a very discouraging message about the penny auction site. BidPanther Pro enables your browser to: Know everything about your competition. Ipad Penny Auctions. What is a penny auction on GunBroker? A penny auction on GunBroker is a type of online auction where participants place small increments of bids on firearms and accessories listed for sale. At 0:00 GMT today, the highly anticipated tool, Penny Auction Bot, was released by Krish Puri. These are the dime errors you should be looking for — and their current value: 1942/1 Mercury Dimes — $625+. the software must have 3 view:Downloadable (with restrictions)! Online penny auctions, emerged recently, are seen as an adaptation of the famous dollar auction and as “the evil stepchild of game theory and behavioral economics. Reviewers satisfied with HappyBidDay most frequently mention penny auctions, auction sites, and customer service. Penny auctions may not seem important because they really aren’t but if you. A1 Analyst. One of the safest penny auction sites is BidCactus. As Prepared for DeliveryGood afternoon. Whoever wins goes up incrementally by a penny for every bit, and so by the nature of this, whoever is winning the auction ends up purchasing the item for the. 这种竞拍模式的名称与思想与美元竞拍（dollar auction）极为相似，拍卖结构也与传统英式拍卖的结构相似。但与两者最大的不同在于该模式中每一次的竞价要求竞拍者支付一定的费用，而美元拍卖中只是最终出价最高的两位竞拍者支付出价格，英式拍卖更是最终出价者支付。3) 1793 1C Wreath, Strawberry Leaf Cent. We understand that every individual is unique, which is why we create customized plans that fit your specific needs and budget. Value 10. When a bid is placed, the auction timer is also increased by a set amount of time. Currency Auctions estimates that uncirculated $2 bills from 1890 could sell for up to $4,500, and uncirculated bills from nearly every year between 1862 and 1917 for at least $1,000. Also, any older penny with a picture of wheat stalks, rather than the Lincoln Memorial, is worth at least 5 cents to dealers. Description (Long) The U. 00. Reviewers satisfied with HappyBidDay most frequently mention penny auctions, auction sites, and customer service. Find more about Penny Auction. The technical storage or access that is used exclusively for statistical purposes. At 0:00 GMT today, the highly anticipated tool, Penny Auction Bot, was released by Krish Puri. S. getElementById ('epicycloid22052'). The Penny Auction Industry will always be. To help bidders achieve greater success with entertainment shopping, the Penny Auction List hired Emma Stebbins, a Probability & Statistics major at the College of William and Mary. Many investors are attracted to penny stock investments because their low share prices suggest a strong possible upside. TweetEmail Tweet Email Entry Period Closed- Winners Have Been Announced! Thanks for entering & donating. Our collection of Penny Auction is carefully curated to meet the needs of every customer, from fashion-forward trendsetters to practical wearers. The major factors affecting the penny auction website cost are –. They differ from common auctions like eBay, as. So, when you come across a penny auction site and check out the ended auctions, and see and end price of $5. An example is a $650 stereo receiver that recently sold for $57. Job Description: I need a software that monitor a specific penny auction site (i will give the name in private) and is able to generate specific statistic on ALL penny auctions and bidders. Click the “Bid-Ninja mask” icon to the right of the URL bar to see a list of Quibids & Dealdash penny auctions. com. Jul 26, 2023. The article shows how Swoopo was able to auction a $1000 check and collect $2452 in total fees. Penny auctions are used in online platforms, fundraising events, and liquidation sales to engage users, offer unique deals, and raise funds. Penny auction may refer to several types of auction : Bidding fee auction, in which participants must pay a fee to the seller in order to place each bid; Penny auction (foreclosure), in which participants collectively discourage competitive bidding in order to force the sale a foreclosed property at a low price. Back in 2012, a 1943 Lincoln penny sold for $1 million at auction. This disambiguation page lists. It’s our 1-year anniversary! Penny Auction Watch℠ was founded in May of 2009! We’ve been glad to be able to provide you with penny auction information, including some unfortunate exposés of penny auction scams,. Once you entered pennyauctionstar. Our collection of Penny Auction is carefully curated to meet the needs of every customer, from fashion-forward trendsetters to practical wearers. The process—usually achieved with a combination of intimidation, threats, and physical force—effectively circumvents foreclosure by. Given the string of bankruptcies of penny auction websites over the past two years, we use empirical data to investigate whether QuiBids remains profitable. 00. ★ All our items are brand new and boxed. 1¢ INCREASES: Each bid placed adds 1 penny to the auction price. As soon as you enter pennyauctionstar. In that way you can monitor suspicous bidders and also make your strategy much. Unfortunately the increasing marketing initiatives by the companies have led to decreasing consumer confidence and decline in the overall growth. Apps Apps being viewed right now Trending apps today Most popular apps All-time most downloaded apps Top rated apps. Statistics; Cookie statement. Fun and entertainment. Bidders may then increment the price by $0. Data safety. function get_style21104 () { return "none"; } function end21104_ () { document. The concept behind how penny auctions work is simple, according to James Crawford, co-founder of DealDrop. We understand that every individual is unique, which is why we create customized plans to fit your specific needs and budget. The app has been available since 6 weeks ago. By using software agents for. Since its mechanism is different from traditional ones, the results of past studies may not be applied to. Cash management bills aren't auctioned according to a schedule. It will be a modest change to the English auction contract. downloads PREMIUM. You can view free DealDash statistics here: How to Win on DealDash – Free. To spread the word about a product or service and raise its profile. Here’s how penny auction sites typically work: Before you can begin bidding, you have to register and buy a package of “bids,” ranging from 50 cents to $1 per bid (the bid prices vary from. But in many ways, a penny auction is more like a lottery than a traditional online auction. It is best to work with discount bulk suppliers, but. Utilize live price prediction technology. 1914-S Lincoln Penny. A penny auction is a form of an ascending auction in which, in addition to the winner paying its bid to acquire the good up for auction, each bidder pays a fixed cost for each bid it places in the auction. This is a small amount, for example $ 1, which is not scary to risk, even making 10 bids. Items. These reports are crucial to your marketing strategy and implementation. 194. The 1937 Pattern Penny one of seven privately held. #12 · May 13, 2017. It's currently not in the top ranks. O. Number of online-only. Then, when the auctioneer finally gave up trying to get higher bids; the. This period also witnessed the emergence of two auction house giants: Sotheby's in 1744 and Christie's in 1766, both rooted in London and eventually. The last update of the app was on February 8, 2021. The First AuctionWeb Logo Was Called the “Death Bar”. We understand that every individual is unique, which is why we create customized plans that fit your specific needs and budget. , a pack of 100 ‘bids’ for $60), A penny auction is an online auction that uses only small bid increases — usually at or around $0. The most bids ever received on a handbag on Penny Purses is 1,691. 1970 No S Proof Dime — $500+. kilburnpjaa85441@yahoo. popular and reliable penny auction sites. As opposed to traditional auctions which often use hidden fees to even out the seemingly low price, auction winners can save up to 90% with penny auctions. Unlike other auction sites, we do not deal with used products. A penny auction is a collective action taken during the auction of a foreclosed property to force the sale of the property at a low price, with the intent of then returning the property to its previous owner. 1 An article in the Washington Post asserts that penny auction is “the evil stepchild of game theory and behavioral. style. Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts. Swoopo and Eunibids are among the most. Reviewers complaining about Zbiddy most frequently mention credit card, penny auction, and customer service problems. 1 review for BidTracker. As the bidding war begins, each bid that is made bumps the price from zero up by a small amount – hence the name, “penny auctions”. The finest collection of Lincoln Cents has been auctioned for $7,731,811 by GreatCollections, setting all-time world records including the first Lincoln. Value 10. Typically, we auction 13-week and 26-week bills on Monday, the 17-week on Wednesday, and 4-week and 8-week bills on Thursday. This warp-speed fundraiser. com. It's currently not in the top ranks. It is very easy to use BidFellow, here are the steps you must follow to get it running in less than 1 minute: Choose one site from the site list. In 2009, the Strawberry Leaf penny broke records for the most money paid for a penny at an auction, going for $862,000. Use this cheat sheet to see which pennies are worth saving and which ones are worth spending…. (100 x $. - PR11446572Penny auction, an emerging popular auction mode, requires bidders to pay for each bid. 01 regardless of the product. We understand that every individual is unique, which is why we create customized plans that fit your specific needs and budget. Bid-Ninja is an extremely easy-to-use penny auction tool that provides valuable information to help you bid smarter while spending less on bids. The demonstration video to the right shows Bid-Ninja in action on Quibids. . We understand that every individual is unique, which is why we create customized plans that fit your specific needs and budget. Some auctions require you to also pay for the final amount. com. Penny auction Penny auction may refer to several types of auction : Bidding fee auction, in which participants must pay a fee to the seller in order to place each bid; Penny. It's an automated penny auction bidder software: with it you don't need to be sit in front of your computer to place your bids in the exact time you want!. com) 339 points by tonteldoos on Aug 22, 2016 | hide | past | web | favorite | 159 comments: tominous on Aug 22, 2016. Penny Auction Software facilitates a smart way of selling products to users online. S. When it comes to finding the perfect Player Statistics in Guide, BidPanther is the best choice. Also, you can view total bids placed for each user. One last thing to note is the business model behind the auctions. 5 percent of all 275,284 referred reports, which in total amount to $265 million reported. 15. Bid packages, bid fees, price increments, timer. Unfortunately, even if you are a bidding master and go about the whole thing honestly there are still some penny auction companies that implement fradulent practices like bidding bots and employee bidders. Penny Auctions. Although Quibids. Hi! :) There are so many penny auctions and sometimes it is hard to know whether a site is a scam (with bots & shill bidders) many programmers sell scripts with autobot features to make it appear like there are many bidders on an auction, this is totally fraudulent but a lot of them don't care and are out to make a quick buck. As per the statistics, thousands of people spend around $3 billion yearly in penny auctions. The auction price starts with 0 and each time a participant makes bids the price of the auction increase by XX. Between 1929 and 1933, a third of all American farmers lost their farms in the worst disaster to hit American agriculture. We offer flexible scheduling options to ensure you get the. WINNING: If no new. If you do not know what a Penny Auction is, before proceeding. Please send any correspondence or consignments to P. 00 or less. Multiple auctions, simultaneously. For buying expensive or rare. It's an automated penny auction bidder software: with it you don't need to be sit in front of your computer to place your bids in the exact time you want!. The highest bidder then wins the how to find penny auctions on ebay. Flexible Penny AuctionAbstract. Recent sales statistics. Statistics Docs Developers Sign up Log in Last updated on: 2023-10-08. Attendees to the event purchase tickets they can use to “bid” on certain items. com, one of the most important penny auction websites, the next recommended step would be to check out the entire list of. 2. . TweetEmail Tweet Email In the IC3’s Annual Report for 2008, Internet auction fraud accounted for 25. A penny auction is an auction where bidders pay-per-bid for an item and the time increases with each bid. 402-710-0682 Email Wessels Farm. Search;David Stone, a coin cataloger for Heritage, told CNBC in 2019 there were an estimated 15 to 20 of the 1943 bronze pennies known to collectors. Multiple auctions, simultaneously. The Proof 1930 Penny comes immediately to mind as one of the industry's great coins. Hmm. Add a page on How Do Penny Auctions work and supplement it with tooltips for ambiguous places on your website. Some facts about eBay that you might not know: 2. The modern history of auctions emerged in the mid-1700s, with pivotal events shaping the landscape. Certainly this alters the behavior of the bidders, but there doesn’t seem to be a lot of info about. 4,361 reviews. 60 a bid, the total value Quibids has made on this auction so far is more than $1,450 for a $200 gift card. The winner of this auction only spent 80 cents on his or her two bids. QuiBids has been a leading penny auction site since 2009. By. Covering entertainment auction site news, finding and highlighting the good, along with uncovering and educating consumers of the dangers of bad penny auction sites. Explore refund statistics including where refunds were sent and the dollar amounts refunded with this visualization. iPads available for $12. Unlike traditional e-Bay style auctions, penny auctions work with a 20-second timer and on a pay-per-bid basis. Arrange for a steady provider. Currently, the auction sits at $24. The designer purse penny auction has already received 828 bids, 400+ of which. And, thanks to the way penny auctions are run, it is pretty. Penny Stocks. If the auctions couldn t be stopped before they started, a tactic emerged called a penny auction. 25 stars from 4,363 reviews, indicating that most customers are generally satisfied with their purchases. All in all, they got $2,500 on bids and $100 from the winner, which basically means they sold a $2,000 TV for $2,600. Online Penny Auctions & their Pitfalls – Federal Trade Commission. 6 million bringing the combined aggregate. 5 percent of all 275,284 referred reports, which in total amount to $265 million reported. However, we are fortunate enough to be in a position where the money earned is not going to bend our commitment to list legitimate bidding sites. Below is a table of the functions you will use: Name Formula Excel Function 1 Number of Observations n COUNT(data) 2 Mean x= 1 n x1 x2⋯xn AVERAGE(data) 3 Standard DeviationHi! :) There are so many penny auctions and sometimes it is hard to know whether a site is a scam (with bots & shill bidders) many programmers sell scripts with autobot features to make it appear like there are many bidders on an auction, this is totally fraudulent but a lot of them don't care and are out to make a quick buck. 0 stars: 'I was told to go to this site because they had statistics on bidders and sites. Generally in an auction, users are supposed to pay a small sum for each subsequent bid on a wide variety of auctioned items, including high ticket items such as LCD TV’s and Laptops. Penny Auctions Penny auctions during The Great Depression was an institutional event. Messages: 36 Likes Received: 0 Best Answers: 0 Trophy Points: 0 #1. Visit. Penny auctions are where you must pay a fee each time you bid. Using a 166-day trace of 134,568 auctions involving 174 million bids on DealDash, the largest penny auction site in service, we show that a) both the timing and source of bids. We offer flexible scheduling options to ensure you get the. When the auction starts, the timer starts to tick down and players may submit bids. It’s a kind of game auction where participants pay a bidding fee each time they make a bid that is not refundable and participate in the auction. Not all auction websites are the same so make sure you read the rules carefully. Penny stocks are public companies that have a current share price of $1. 00 - and have no minimum reserve prices!. The Strategy Behind Penny Auctions . You set the strategy and BidBuddy places the bids, automatically. During the auction, you can switch to "Statistics" tab and check out all bidding history. However, there is a twist. The architects of the new government had considered the experiences of the prior colonial and Confederation periods in the construction of their monetary plan. Penny Auction Bidder Statistics App – BidPanther Penny Auction Bidder Statistics App. NFTs. See more ideas about penny auctions, auction, penny. We offer exceptional customer service and expert advice to help you find the perfect pair of Player Statistics to fit your lifestyle. Statistics. You have to pay for each bid. As the nation faces turmoil in the housing market, history professor Hy Berman. Because each bid you make is a "penny" or credit (although. Penny auction websites are a relatively recent development in the online business world. I saw this play out in a Negotiation 101 tutorial once, for real money, and the bid got up to $40 or so before one person finally bailed (i. Gift Card Penny Auction Sites. In fact, a lot of people are probably losing money, although there aren’t any formal statistics. Main features for all of them: Every bid costs 0. I joined on July 5,23 and I have won 33 auctions including a couple of big ticket. Major auction sales of U. 35m to Quibids. Sign InTop-Quality Penny Auction Price Statistics Services. FARM FORECLOSURESDuring the Great Depression, farm foreclosures became a disturbingly routine feature of rural life. A typical penny auction operates in a relatively simple way. The company has been sued under allegations that it is a form of illegal gambling and that its advertising is misleading. Welcome, Guest . Considering the Denver example is one-of-a-kind; it is no surprise that this coin was the most expensive penny ever sold when it went to auction in 2010. 2. IBISWorld industry market research reports enable you to: Find out. A typical penny auction1 may sell a new brand-name digital camera, at starting price 0 and timer at 1 minute. The aggregate total was $325 million in 2019; $345 million in 2018; and $316 million in 2017. In most cases, bids cost between 30 cents and 60 cents apiece. Sort. Once the clear industry leader, Quibids is a distant #2 to Dealdash. Our Penny Auction Software doesn't just provide you type of auction but four levels of auctions - Regular, Gold, Silver and Platinum. Its mission is to redefine shopping by providing the best deals possible for its customers with a unique, fun and exciting online experience. Our team will work with you to develop a personalized plan that addresses your specific concerns and helps you achieve your goals. It is a retail website that operates as a bidding fee auction, also known as a penny auction. During 1982 the composition was changed to 97. our penny auction winners’ site to find out. 10 to $1 each, depending on promotions, offers, and the bidding site, and are nonrefundable at the end of the auction. Cash Penny Auctions. display = get_style22052 (); } The following article is a guest contribution submitted to us by a reader. 1983 No S Dime — $500+. It was formed in 2010 and headquartered in San Diego, California. 13. 01. We have already added the Arab language version and right-to-left (RTL) layout support to the Merkeleon platform. Filter by. These reports are crucial to your marketing strategy and implementation. Penny auctions provide entertaining thrill as well as possibly gaining the reward of the auction at the end. We’re here today to. When you participate in a penny auction, you pay per bid. Penny Auctions. Today, April 20th, is a big day for people who love to bid on the increasingly popular penny auctions. Imagine the opportunity to buy a guitar worth thousands of dollars for under 20 bucks, a new digital camera for under $5. Value 10. Commercial on-line penny auctions such as those operated by the Website require consumers to buy in advance a fixed number of bids that can be used to compete for the acquisition of an item on. com - online auctions – bid or buy branded items – smart phone, laptop, camera, led tv, ipod and more up to 89% off india's top rated penny auction platform since 2011. Our team will work with you to develop a personalized plan that addresses your specific concerns and helps you achieve your goals. 3. Always the project amount starts with $0. 0 stars: 'BidTracker is one of the leading bid tracking sites online. Get a winning advantage with the All Penny Auctions penny auction database - exclusive information, analysis, bidder stats, and more! 0 add to compare Penny Auctions and Applied Statistics DealDash was founded in 2009 by William Wolfram, a 16-year-old Finnish entrepreneur, who had lost $20 bidding unsuccessfully for a MacBook on an earlier penny auction site. If the bids cost $0. Penny Auctions. . The. Provide large number reports and statistics about the sales being done on the website. 100 bids times sixty cents per bids is $60. Since each penny auction website has its own unique features, player and product statistics & analysis do vary slightly. Join our Penny Auction Forum today!Because each bid increases the price by a penny, as the winner of an auction, you could end up paying a considerably nominal final auction price of say $2. I would definitely recommend.