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Each of the bids increases the price of the item by a small amount, such as one penny (0.01 USD, 1¢, or 0.01 GBP, 1p; hence the name of the auction), and extends the time of the auction by a few seconds. Bid prices vary by site and quantity purchased at a time, but generally cost 10–150 times the price of the bidding increment.
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. 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 ...
Standard auctions began with an opening price of $0.12 and every time someone bids the price increases by $0.12. Other bidding fee auctions use different values - "penny auctions" use $0.01, 6¢ auctions $0.06, etc. The price of bids and the incremental values vary depending on the regional version of the site used. The auction ends when time ...
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Dicey Penny Auction Sites Penny. The Better Business Bureau has issued a slew of consumer warnings recently, so to make it easier for you to keep on top of them all, Consumer Ally decided to ...
Imagine a world of 20-cent lattes, $11 iPads and gas at 19 cents a gallon. That is the reality that entrepreneur Barry Shore is looking to create with YouNeverLose.com, a penny auction site that ...
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