Penny Auctions Scam

by Fred on March 28, 2011

Penny Auctions Scam With penny auctions becoming quite a fast rising fad nowadays, it cannot be avoided that there will be someone plotting a scam. The whole concept of how the penny auctions work is very vulnerable to fraudulent methods leading to penny auctions scam. If you are new to the business, it is necessary to not only know which sites are legit but also those that are not. It is advisable that one researches on these sites  so they can avoid falling prey to a scam. Let us discuss some of the methods used by some penny auctions scam sites.

One commonly used fraudulent tactic is Shill Bidding. This happens when the owner of a penny auctions scam site engages several or groups of accomplices to bid against a real bidder to raise the final price of the item being bid on and at the same time, to collect more fees from every bid placed.

Another fraudulent method being used by a penny auctions scam sites is not delivering items that were won. When this happens, you have no choice but to say goodbye to the money you have spent on the auction.
Computer Bots or Bidding Bots are also used in a penny auctions scam. This is when the owner of a scam site uses fake profiles to bid against a real bidder. It’s kind of similar to that of Shill Bidding but it does not use people. It’s like an application embedded into the penny auctions system to auto bid against the unknowing bidder.

Credit and Debit Card fraud is also very rampant amongst penny auctions scam sites. Providing financial information over the internet has always been risky. So just imagine what would happen if this information fall into the wrong hands.

Those are just some examples of the methods used in a scam site. That is why it is imperative that we take our business to a reputable Penny Auction site that we can trust. If you do your research, you will see that BidHere is named as the number one reliable source of online penny auctions. Feedback from different bidders proves that this site is a penny auctions scam free site.

According to one penny auctions review, BidHere is too reputable and have an awesome business structure they don’t need to resort to scams. One review site said that BidHere can and is capable of orchestrating a penny auctions scam, but does not have a need to. Those few people that are claiming that BidHere is not legit are those people who don’t know the rules of penny auctions and clearly do not know how they work.  Of course, like any other business, it requires technique and strategy. If you don’t know what you are doing, then most likely you will not win. It cannot be helped that there are sore losers everywhere. However, the claims that BidHere is not legitimate are very minimal compared to the claims that it is legitimate. Just read the feedback from different sites and you will know. It would not reach number one spot if it is not legitimate.

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