BBB has a good Quibids Review. In fact, many penny auctions boast of a good BBB Review. In fact, it is one of the highlights on their site. A common symbol is "BBB Accredited" business. This certainly lends credibility. However, it may not be as safe as you would like to believe.
As it turns out, BBB is as sold as other ratings agencies. It was an interesting read, an article on LA times about BBB ratings. It appears that BBB had given an A+ rating to Goldline that was not deserved! This is blasphemous to say the least. You would be aware that GoldLine is under federal investigation of fraud and misleading customers into buying overpriced antique gold coins.
A lot of ratings agencies have lost credibility especially after the financial meltdown. I am certainly not suggesting that BBB accredition is pointless. However, I am saying that just because a penny auction has a good BBB rating, you should not trust that blindly. BBB has given Quibids review an A-, which is probably well deserved. However, the same cannot be said of all penny auctions.
To keep yourself updated, read my Quibids Review, BidHere Review, DealDash Review, ScoreLuxe Review, BidRivals Review and Penny20 Review.