Penny Auction

Few days back when I was browsing facebook, I saw one advertisement on the right PennyAuction.com.my. The advertisement is catchy and make me interested to know what it is.

Then I visited the website through the click from facebook. It was indeed an interesting website. You can buy your item with cheap price. Your registration is free and you did get 3 free credits.

Wow this was pretty amazing as item as expensive as RM799 can be bought with RM1.86. Isn’t it amazing?

BUT WAIT.. You arrive at the hot point. The price itself doesn’t mean the thing is cheap. You need to buy credit which will costs you RM2 for 1 bid and RM20 for 10bids (There is a package for this). And every one bid will increase RM0.01 of the item price.

So, on the first place if you don’t do calculation, you gotta loss a big money. What more on this bidding was, the seller can bid too the seller can secretly become members and join the bid. Isn’t this great? The price will hike and hike and hike until the seller get the right amount. Which means if the item price is RM2099, you divide by RM2 then you get 1049.5 then times with 0.01 you will get the final value of 10.495 or approximately RM10.50 for the item to reach the actual price. This also equivalent to 1050 times of bids.

This bidding is totally different from the normal bid, the winner will be the person that win the most and the loser will lose big time. Just Imagine you bid for the same thing as above for 500 times. But the winner is the person that bid for just 1 time or let say 20 times. Then you had used your 500 credits which is the same as RM1000 but the winner only use his 20 credits or RM40. Such an enjoyable moment for the winner eh?

And once you bid, you use your money and there is no refund for your money. And just imagine how much did you loss for a thing that you never get.

What more in this game is, there is no registration of seller and seller could bid too as we don’t know the seller identity, they can join the bid too (as mentioned  earlier). Which also means, all the seller from this website came from the same company. Which they could get easy credits without paying. Imagine every time you bid, they will bid too until you finish your credit and they become the winner.

If there is no winner, then all the bid from user will be taken and the company will become rich in no time. It is almost the same like you are playing jackpot. The chances of winning is very small.

So my advice to you, If you like this kind of game (I saw it fun too) you just play it. If you rather buy something that you could get then get away from this, just keep the Lelong.com.my bidding as that does not cost you any.

Also I’m writing this on behalf of the public and not that lelong.com.my did paid me to talk about this. By the way, I was wondering can this type of site could last long? As everyone is hoping for free. Maybe can when there is a large supporter and maybe cannot if everyone don’t wish to waste money.

Good luck to them and good luck to you.. I’m watching Camera Auction that is suppose to end 2PM (8Sept2009) and extended until now. But I need to sleep now, later 6am 9Sept maybe the auction haven’t end then I will check it back.

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Haha..It’s true.. Now it is 7.39 AM and the auction haven’t even end. The price now is RM8.67, I set my bid at RM11. but it haven’t reach there..

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For your information, the camera is sold for RM23.36. Such a good number which will directly makes the camera price around RM4672.. It was amazing price and if the website were to get big, they will be creating big money in no time..

2 Replies to “Penny Auction”

  1. hi there.. actually im also interesting about pennyauction.com.my. i know about it by my friend. after he told, the first thing coming on my mind, its safe or not.. can aa??? how to use this… where i wanna buy the bids. how much should i spend?? I getting more interesting about it.. the question push me up to exploring about this website.

    then after at all, i do surfing trying to get the answer.
    thanks god, i found u as a blog or blogger or machine or behalf somebody or something la ( i don’t actually..hehe) explain all about this.. now i got an answers.

    thanks a lot… i appreciate it…

    hit me back!!!!

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