Pennies 4 guns?

[winchester '97]

Just saw an ad for this site here on THR, and I'm quite curious, just how big a scam is this?

www.Pennies4guns.com

 

[kalash]

Ok, let me break it down this way.

Its called a penny auction, now I have not looked at the cost of the bids but lets just say the bids are .50 cent each.

How this works if you "pay" for bids. You buy a lot for X amount. If each bid costs .50 cents (each bid placed is only for .01) and say a $500 rifle sells for $100 that means that 10000 bids were placed. They made $5100 to sell a $500 for $100.

Take in to mind that these numbers are not "correct" but it will give you a idea of how it works.

 

[BeerSleeper]

It looks like some other auction site I've seen before. I think they charge you so much per bid, and you can only bid is such ridiculous low increments. I don't know if it's actually a scam, but I think it's definitely a racket.

 

[justin 561]

This was discussed about a week ago. You'll find it HERE

 

[TexasRifleman]

Yes, discussed already.