subject: Spotting and Avoiding Untrustworthy Penny Auction Sites [print this page] Spotting and Avoiding Untrustworthy Penny Auction Sites
Penny auctions have become a very popular business model in recent years and genuine sites offer people a very real opportunity to bag amazing bargains and fun to the mix. However, there are people out there who have taken the pen auction business model and turned it into a scam, because they can see that it is a great way to make money.
For people who want to join in the fun process of tendering a penny, there is a real risk that they will sign up one of these false premises and lose lots of money with no real chance of winning anything other than debt and disappointment .
The question is, how to spot a scam site and avoid at all costs? The good news is that there is a real community of lovers penny auctions online, looking for each other and teach recruits how to spot a scam and to avoid it.
If you look around our forums and blogs to promote and discuss these types of auctions will find a handful of friendly arenas where you can join and participate and learn everything about the massive behind the success of the penny auction. You'll also learn tips for the first indication of a fake website, such as: -
1) Check the statistics of the Alexa ranking and traffic of a particular location, use the likes of domain name registries to determine who owns a place and time is registered for. Make sure that you read and discover you feel unsure about the site.
2) new and real places begin to sell off small parts, as this is the only thing they can afford to offer - both new sites starting with a bang goods and offer spectacular and luxury all at once be seen in skepticism.
3) Watch bidding patterns before you jump in - if the bids placed in an automated manner that suggests a possible fraud.
4) Check the transparency of the site ownership and conditions.
It's almost a catch 22 in that area is higher the greater your chances of winning an auction this because it is less popular - but later the area is the more difficult it is to determine whether it is genuine or not. The word on all forums penny auction is to tread carefully - if something seems too good to be true then it probably is.
