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Ham Radio Rig for $4.73 ?? on upenny.com
Posted: Sat Mar 05, 2011 1:42 pm
by hammy
Hello wanted to start a topic to see how many people are on upenny.com which is a ham radio penny auction . I recently won a giftcard but i see they have alot of higher priced items that i never win....i would love to know more about this type of auction as i seem to become addicted to it. any comment from winner would be great
Posted: Sun Mar 06, 2011 12:06 pm
by k4kk
Looks like spam.
Smells like spam.
Sounds like spam.
Could it be spam?
Viewing Auctions
Posted: Sun Mar 06, 2011 9:04 pm
by hammy
To your reply , you can view auctions without registering and i did get 45 free bids when registering ...just looking for how the best way to win is..im new to this type auction
Posted: Wed Jun 01, 2011 11:45 am
by KK4CAZ
Penny auctions are a waste of time and money. There are some instances that you can win a high value item at a cheap price but its a shoot at the moon kind of thing.
If a bid package costs $10 for 50 bids then each penny bid costs 20cents.
If a yaesu dual-band ht would normally cost $300 brand new and sold on the penny auction for $50, you might think that it is a $250 savings but in reality, the total money made from the auction was the number of bids multiplied by the bid cost which is 20 cents per bid.
In this case, people have paid $1000 for a $300 worth radio.
If you were bidding on this item and lost and you have spent about $100 worth of bids then you would hate to lose all that money. This is where they make more money by offering their selling price for this item to you less the bid cost that you spent. Their list price is usually much higher than the market price. Go figure.