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Friday, September 9, 2011

Penny Auction profit

Our customers often ask us: "Can a penny auction business be profitable?"

From our experience we can give an answer: Yes, it can be.

We have seen the following cases.
The iPad went for $202.15. As each bid increments the price by $0.01 it means that Bouncybids got 20,215 bids and earned $12,129 (one bid costs $0.60):

As the retail price of this iPad is about $1,200 the profit is 12,129 – 1,200 = $10,929 USD or 910% !

The Amazon Electronic gift card of $250 value. It was won for $23.32, which means that 2,332 bids were made. 2,332 bids * $0.60 = $1,399 income. $1,399 – $250 = $1,149 profit or 460% !

So, these are good results. And it is a true proof, that when running penny auction business goes step by step and is accompanied by well-organised marketing strategy, it can be profitable and succesful.

Good luck with your penny auction business!

4 comments:

  1. Useful information, many thanks to the author. It is puzzling to me now, but in general, the usefulness and significance is overwhelming. Very much thanks again and best of luck!
    The Online Penny Auction is done in the internet wherein the participants or so-called "bidders" pay a non-refundable fee to acquire a certain product that is being auctioned.

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