BBB has issued a warning against Penny Auctions in general and some tips to protect yourself. Of course the tips are not always practical and hard to implement, but the article is still worth a read. Remember not to trust BBB ratings blindly. There are many factors you need to consider.
One problem with waiting for a BBB rating is that new penny auctions usually offer the best deals and bidders are naturally inclined to join them. Of course they also carry a higher risk, hence the warning. In any case, you should definitely be careful of the bad apples who bring a bad name to the entire industry.
I do hope that the penny auction industry is better regulated.
Here is the BBB warning on penny auctions. Thoughts?
One problem with waiting for a BBB rating is that new penny auctions usually offer the best deals and bidders are naturally inclined to join them. Of course they also carry a higher risk, hence the warning. In any case, you should definitely be careful of the bad apples who bring a bad name to the entire industry.
I do hope that the penny auction industry is better regulated.
Here is the BBB warning on penny auctions. Thoughts?
