Thread: Guns 4 Pennies
July 18th, 2011, 04:49 PM #1
Guns 4 Pennies
The old saying if its too good to be true......then it is. I keep seeing "Guns for Pennies" in guns and ammo and was just curious about it. Any feedback?
July 18th, 2011, 05:09 PM #2Guns4Pennies is an online Pay Per Bid Auctioneer. We allow you to purchase bid packages in order to participate in a bidding fee auctions.
You pay for each bid.
Last edited by whitsend; July 18th, 2011 at 05:13 PM.
July 18th, 2011, 05:11 PM #3
There is a similar website to this for electronics but the name escapes me now. The way it works is you purchase X amount of bids. They don't say how much the bids are so im guessing its more than a penny. Anyway they make there money off of selling you bids. Also every time someone bids the timer resets. So it essentially lasts until you have ran out of money.
Anyway I wouldn't touch it.
July 18th, 2011, 05:21 PM #4
Same as any of the other penny auction sites (Beezid.com, Quibids.com, etc). You pay about a buck for each bid ("penny"). It's about 90% luck, 10% strategy. Basically it's gambling. I've played around on Beezid a little bit to get a feel for it, if you know what you are getting into and understand how it works, it's somewhat entertaining about as much as playing a slot machine is.
July 18th, 2011, 05:25 PM #5
My wife fell for the same temptations with the "penny auctions" after talking to some friends at work. The gimmick is that you pay for your ".01" bids. I think she paid $15 for 100 bids. It works like this: You see an item you want, i.e: flat screen TV. You place a bid. Win or Lose, you use a paid for bid. 10,000 other people also place bids on the item. They pay for the bids also. With 3 seconds left, you drop another paid bid on it, thinking you were lucky enough to swoop in at the last second and take it. But, then, the clock automatically resets to 1 minute left, and gives others a chance to bid as well. There is also an auto bid choice, where you can choose to auto bid on the item until you have no bids left. If you don't win, you still spent $15 dollars worth of bids. There are a lot of people involved in it, some of them I can only assume are small business owners or EBay sellers, that will place $50 dollars worth of auto bids on the items. It's almost impossible to win, and it cost a lot of money to try.
In all honesty, it's one hell of a business idea. The attraction of getting something at little or no cost is enough to lure in novice consumers. And more experienced buyers/business owners can only spend 60%-70% of the original cost in to purchase the item. If you spend $15 in bids, and don't win, and 2000 other people do the same, the company makes $30k + on a flat screen TV that they probably paid $1000 for wholesale.
The numbers seem outrageous, but if you go to some of the "penny auction" sites, it's easy to figure out the estimated profit on some of the items.
July 18th, 2011, 05:53 PM #6
It's a scam, there is no law to prevent the company from using a delay and shilling their own bids.______________________________________________
HK, because I'm awesome, and they love me!!!
July 18th, 2011, 07:47 PM #7
July 18th, 2011, 08:01 PM #8
One company used a brand new SS Camaro to attract customers. The winner just so happened to have the same IP as the VP of the company, yet no charges were filed, since no crime was commited.______________________________________________
HK, because I'm awesome, and they love me!!!
July 18th, 2011, 08:53 PM #9
Lol it's 30 dollars for 5 bids alittle cheaper like 600 dollars for 1000 bids and is clearly a scam.
July 20th, 2011, 09:09 AM #10
July 20th, 2011, 10:07 AM #11
For what it's worth, I was out of town and bored last year, so I decided to give guns4pennies a try - I bought a few bids and tinkered with it for a while, with no real agenda or specific item in mind. I actually won a Mossberg 500, and the total I was out of pocket was $1.13 for the 'acution' plus $25 for shipping and probably 50-ish for the bids I bought, so I actually came out ahead. Winning the shotgun isn't the story, though.
I won the shotgun in December, and send them my FFL's info the next day. I anticipated a week or so for delivery, plus Christmas, New Year's, etc. so I wasn't too aggrivated until about mid-January, when it still hadn't shown up. I sent a polite email asking about the weapon, and Ed Nieves (the owner), called me within 15 minutes to apologize. He explained that he had gotten screwed by the company handling his money and he reassured me that he would honor his commitment as soon as he could. Ed is an Army veteran, and I am as well, so I gave him the benefit of the doubt. Honestly, I thought I was going to be out the money and that would be the end of it, but I was going to give him a chance anyway.
Ed called or emailed me every week to update me on the status and promise me that he would send me my shotgun. In late February, two months after I had initally won the auction, Ed called me to tell me that he was ready to ship the Mossberg, but he wanted to do something for me since I had been so patient. I told him that I was really just itching for a new toy, so if he wanted to send me something with the shotgun or upgrade me to another weapon althgether, I really didn't care.
5 days later, he sent me a brand new Gen 4 Glock 23 and a Benchmade folder. It was a hell of an upgrade from a Mossberg pump gun!
These penny auctions may be a gimmick, and I know my experience was the exception, not the norm, but I can tell you that their customer service is outstanding.
I have a baby on the way, so my gun money is tied up with other commitments, but I would have no problem telling someone that if I were going to get in on some of these penny auctions again, I'd gladly support Ed's business.
July 20th, 2011, 10:14 AM #12
Although, I tend to agree with bronzdragon - no substitute for a real shop (and not having to wait to get your gun)
October 23rd, 2011, 05:02 PM #13
I'd been wondering about these type auctions and am glad I read this here. Bottom line: I will not bother with these so called auction sites which pretty much sound like online peg boards. Thanks. Another thing is someone mentioned Pennies4 guns association with Pay Pal. I've already no longer do anything associated with Pay Pal and cancelled my Pay Pal account due to their ANTI GUN sentiments.
Last edited by ttack1947; October 23rd, 2011 at 05:06 PM.