Cars? CARS! yes, that’s right. You can win cars on many penny auction sites. Anything from cheap family cars to high flying sport mobiles. There have been many people that have claimed to have won cars and one thing has to be said… they were very lucky, very lucky indeed. When it comes to vehicles on penny auction sites, all strategies go out the window because there will be thousands of bidders trying to win it, it’s just a case of bidding at the right time, I.E 100% luck.
Transcript from the video:
How do you feel now?
ecstatic, it’s really really too good to be true to be honest.
Was there a tough battle?
Very tough battle yes, but it was cool and calculated.
So how did you find out about madbid?
I found out about madbid from the times newspaper about three years ago roughly, I seen how somebody won a mini for about £30 and thought I’m going to try that.
How did you decide to go for the car?
Well we’ve looked at various cars and to be honest with you I’ve bid on a lot of cars and we’ve been a bit unlucky on some of them but this time we decided this is going to be our car.
We wanted an audi A3 so our plan worked out well, we watched the main bidders we logged the main bidders and we were cool and calculated when it came towards the end of the auction or where we believed to be the end of the auction.
So when you first saw madbid did you think the prices were too good to be true?
Well yes, when you first see something like that you obviously think theres going to be a catch, you think there must be some kind of trick to it, but what we realised now is that there is no trick to it, its a totally genuine site.
What are your tips to newcomers?
Start at the bottom and just look at auctions and untill you notice some of the main bidders, but try and pick something easier to start off with and maybe work your way up.
What are you currently driving?
At the moment we’re currently driving a land rover freelander which is a 4 wheel drive vehicle, we live on top of the mountains so the land rover is pretty essential car for us really.
What would be your dream road trip with the new car?
I used to work in south africa so maybe if I could, I’d take it over to africa and drive from durban down to cape town on the eastern coast, fantastic.
Why would that road trip be special?
Because the scenery and countryside in south africa is second to none, apart from wales obviously.
Whilst he says that he was cool and calculated, the chances are that he just got very lucky. Sure, what he said can be helpful in terms of looking at who the main bidders are but also when you are an experienced bidder you can feel when an auction is starting to come to an end. But this only comes from practice and experience.
Chris Skunk from autoblog wrote:
Penny auction sites like QuiBids or Beezid that advertise $18 iPads and $15 laptops sound too good to be true, and some simple math shows that the sites end up winning big in the end. That isn’t always the case, though – at least not when it comes to pony cars. CNN reports that Jonathan Mason of Michigan purchased a brand-new Bumblebee yellow Chevrolet Camaro SS for only $5.28 using the site Fastpennycars.com.
Amazing, right? Well, before you trip over your mouse on the way to the site, keep in mind that each bid of one penny costs 80 actual cents, and there were a total of 528 bids. Mason’s Camaro only cost him $5.28 plus the cost of any bids, but the site collected $422.40 in overall bids. That’s a far cry from a $31,000 Camaro, but keep in mind that Fast Penny Cars is a newer site, without a big following like QuiBids. On QuiBids, an iPod Touch will sell for $10, or 1,000 bids at 60 cents each, which is quite a deal for the website. Well, that was the case until this story broke. Fastpennycars.com is now so backed up with traffic, we couldn’t even get to the homepage.
Hit the jump to watch as CNN explains how a Camaro can be purchased for $5.28. Mr. Mason may have gotten the deal of a lifetime, but we’re guessing the next guy won’t be so lucky.
Chris is right here, Mr mason was clearly one of the lucky ones because he used a penny auction site that has no gone bust simply because there wasn’t enough bidders, fastpennycars.com only made back $422.40 on a car that cost well over 30 grand. This is the main reason penny auction sides go backrupt as we touched on in our penny auction future page.
Now we don’t recommend looking for new penny auction sites because the majority of them aren’t legit which we looked into here – Are penny auctions legit?. We recommend taking a look at some of the reviews that we will be publishing over the next few months to determine which site to choose.
If you are looking to bid on a car then there are plenty of penny auction sites that have good authority and are very trustworthy such as beezid and madbid.