The "Penny Auction"

[Leonard Rouse]

The concept gets the award for "Most blatant, widespread, ludicrously chutzpahstic (and successful!) new form of graft."

Explanation:

Do you know how eBay works, or pretty much any legitimate private auction? Basically, the seller pays the fee to the auction house. (Or alternatively, there's an up-front, understood X% "buyer's fee" that will be tacked-on to the final bid, such that all bidders factor that into their bids. In this scenario, the seller still effectively pays since realized prices are depressed by the amount of the buyer's fee.)

Not a penny auction!

In a penny auction, you sign-up at a site, complete with your credit card info.

Each bid raises the price of an item only one penny, which for some reason appeals to morons.

The auction/scam site charges the bidder a fee for each bid. Dime, quarter, half dollar, nickel. . .depends on how audacious they are.

Most of the items are typical electronic crap that jews peddle in B&Ms in NYC, Miami, etc. Photography. Coins, too. Toys.

So a jew starts a website. Buys pallets of crap. "Auctions" them under this penny scheme.

Let's say he puts up a $500 camera for "auction." Debbie Dipshit the christlunatic wants it. And there are a lot of Debbie Dipshits.

Ari the Jew charges all the Debbies a dime for every bid, which is a penny at a time.

Let's say the camera goes off at $450. . .a deal!

There are 100 cents in a dollar, and 10¢ was charged for each bid. There were 100x450 bids=45,000 bids. 10¢ on each bid makes a $500 camera that effectively sold for $4,500, which goes into Ari the Jew's pocket.

Rinse and repeat.

Even if you're only charging 2.5¢ per bid, you're still taking-in over $1100 dollars, over twice the typical retail.

And these sites tend to have ridiculous shipping charges. And they use prop bidders/bots.

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I've seen some ads for this concept for the past year on TV, but they are everywhere now. Jew Mike Greenberg (and his sidekick) of ESPN is now scamming for a penny auction site.

I'd tell you to websearch for "penny auction scams," but most of the hits are from preemptive websites set-up to assure the Debbie Dipshits that penny auctions are not in fact scams, if Debbie just "does her homework," "is careful," "smart," etc.

A scummy business. You've been informed and thereby warned.