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Old 07-13-2011, 07:42 PM   #51
Paul Huizenga
 
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We covered how these sites work back when they first announced this particular one. It's basically a lottery with no transparency...

http://www.lsxtv.com/news/too-good-t...-less-than-1k/
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Old 07-13-2011, 10:24 PM   #52
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Originally Posted by TheHorse13 View Post
Think of this another way. Purposely let this dude win the car. Let's say it costs 35k to make that happen. Now EVERY mental patient will believe that they too can do this. The company just spent 35k on very clever advertising. This is a fraction of what normal advertisements cost and this one will be a hell of a lot more effective. Greed is a powerful motivator.
This
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Old 07-14-2011, 10:01 AM   #53
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Well its cheaper then paying to advertise the site on tv and more effective also(as you can see). The thing about most of these auctions sites is that in the agreement it admits to being a scam. They can place bids their self to up the price, extend auction time when they feel like it, and cancel a auction anytime for no reason. It's worse then gambling sites and the only reason its allowed to be run while gambling sites can not from the USA right now is that the sites have not made enough money yet for the government to rob the creators of these sites. Once the money is there the government will step in and create a law like they did with internet gambling and then clean out all bank accounts and arrest and shut down all sites they can the day after. Land of the free. So if you have money into a site like this I would stay aware of current laws or risk loosing some money
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Old 07-15-2011, 01:01 AM   #54
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hahah I'm sure he could not afford the sales tax to even take the car..LOL they never tell you that stuff until you win something... Then you get hosed
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Old 07-15-2011, 06:24 AM   #55
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Originally Posted by HaVoKZ06 View Post
hahah I'm sure he could not afford the sales tax to even take the car..LOL they never tell you that stuff until you win something... Then you get hosed
I would suspect that at 6-7%, he can afford the 30-40 cents sales tax. He only paid $5 and change, he didnt 'win it'.
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Old 07-15-2011, 08:41 AM   #56
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This guy at work got a Ipad 2 for $5 from Scoreit.com. You have to buy some bid cards, so there is no telling how many bid cards he had to buy before he won one.
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Old 07-15-2011, 11:03 AM   #57
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I'm pretty sure he still has to pay tax on the purchase of the car at market value.
I don't think so. It was a bid not a raffle. Therefore the market value of the car at time of purchase was $5.28.
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Old 07-16-2011, 10:21 AM   #58
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what a lucky guy. he got the car already pay in full and i'm still paying monthly payments
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Old 07-16-2011, 11:31 AM   #59
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The website took the loss on the car intentionallly... to create a buzz and get publicity... no one else is going to get a car at that price....
These sites are horrible of you ask me. They take money from you to bid and the auction can theoretically go on forever... There are a few sites like this out there..
You buy bids and there is no guarantee that you will win what your bidding on so your just feeding them ( the website owners) money.
The guy who won the car, I'd be suspicious if he wasnt related to one of the website owners or something like that... you dont give away 40,000 + dollars to a stranger just to start a website


Our servers experienced extremely high traffic which has affected our ability to run uninterrupted auctions. Since our #1 goal is to assure that every user experiences a fair auction, we will be down temporarily to add additional servers until Wednesday, July 20th at 2 p.m. EST. Unfortunately, this forces us to postpone our 2012 Ford Mustang GT auction until next Saturday, July 23nd at 10 a.m. EST. We apologize for the inconvenience and appreciate your patience. If you have any questions or wish to contact us, please email us at support@fastpennycars.com.

I could be 100% wrong as well...LOL but it seems very suspicious to me
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Old 07-17-2011, 11:01 PM   #60
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I picked up a yellow SS off of ebay for $1.67. What's the big deal? Oh yea, mine was a 1/64 scale Hotwheels variety.
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Old 07-24-2011, 01:45 PM   #61
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Old 09-09-2011, 11:57 PM   #62
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I learned of this penny auction site through camaro5. I have been looking around on it since this story on the front page and thought Id share their last auction dealings.

It has been speculated that the winner of the camaro was a friend of the president of the auction site. Also a bidder, in an attempt to prove how legit fastpennycars.com was, went to this website I am about to post claiming how they have won gas cards and plan on bidding on cars turned out to have the exact same IP addy as the VP of fast penny cars Sandy Daenzer.

What I have learned about fast penny cars is exactly why I have never tried these types of things, as my gut always tells me its a scam.


http://www.pennyauctionwatch.com/201...erent-winners/



Over the weekend the penny auction site for new cars, FastPennyCars.com closed their fourth car auction on the pay-to bid format.
FastPennyCars’ August 27th penny auction offered bidders the chance to win a choice of 1 of 5 cars, all 2011 models: Dodge Charger, Ram 1500, Journey Crew, Challenger or a Jeep Wrangler. MSRP value: $33360.00.
The car auction finally ended on Sunday, and the winner was declared to be CURLZPAL. However, CURLZPAL isn’t the only user who “won” the car.
According to one bidder, the auction closed with him being the winner hours prior. He even received a win e-mail confirmation only to hear later from the penny auction site that he didn’t really win.
He told us,
“Auction was for $33,360.00 choice of cars. They took in about $35,220.00 with my successful bid of $352.20
After 12 hours yesterday I was declared the successful bidder by their web site as well as confirming email.
They called a short time later and said never mind, their server crashed. If it crashed how did it accept my bid and declare me the winner? I have email and screenshots of the web site.
They restarted the auction from there.
The auction finally ended today and they took in over 3 times what they would have if they let me win.
Looks like the final ‘winning bid’ of $1,085.04 brought them $108,504.00 in bids.
Go figure.

Doesn’t look right to me.”

Since the bids did not increase the auction price by $0.01 but $0.03, they took in 36,168 bids. Bids range in price from $0.70-$1 depending on which bid pack quantity was purchased.
He also told us that the bidding started right back up where it left off, they offered to give him 200, then 250 in free bids. He declined, he wanted the car they said he won. He sent us screenshots of the auction won confirmation e-mails:





As the winner’s choice auction was actively ending on FastPennyCars Saturday evening we saw that they had posted a few messages on their Facebook fan page about server issues.
The FastPennyCars site went down for maintenance numerous times Saturday night:

Saturday at 10:31 pm FastPennyCars posted the following message on their Facebook fan page:
“The only equitable thing to do is to bring the auction back up and let it end cleanly. Otherwise, everyone who has spent time and money on it would be cheated. When the auction has concluded, we will be working with our server hosting company to resolve the issue with our servers. Thank you for your continued understanding.”
As with any technology penny auctions are not exempt from experiencing server lags and other technical issues; however, it’s of my opinion that after these glitches FastPennyCars should have refunded bids placed by all bidders and restarted the auction fresh from $0.
The bidder who told us he won the car received a refund for all bids purchased on FastPennyCars.com, but did other bidders receive a refund?
Not only did the above bidder tell us he won, another bidder who thought he was a winner e-mailed us yesterday as well.
He told us that he didn’t get a win message e-mail, but his username was up when the site showed the auction was over:
“I tried to bid on fastpennycars.com last night, was the winning bid and actually watched the timer go down to 0, then the site shut down and added 10 more minutes. It was showing like $564 or something but the extra time gave bidders time to regroup. If they would have ended then it would have left them with 34k in bids or so but since they added the extra time they ended up with 108k in bids.”
“Then early in the AM I went back to check on the auction but it said it had ended at $642 or so and showed the screename of the girl who won. A while later I went back and the auction was going again so they obviously did the same thing to her.”
We then heard from a 3rd bidder who said:
“Also when this auction was going on live it bumped several people off TWO TIMES and they RESTARTED the Car Auction claiming server errors ?
I asked for a refund and this is what I was told: Per your request on Live Chat, I am forwarding this email to our Accounting Department for your refund request of today’s auction. We apologize for the inconvenience this may have caused.”
Another bidder stated:
“I can tell you that NOT EVERYONE received a refund on the bids from fastpennycars.com. I did not. I made some bids with two other people and they were getting slower and slower. I watched the timer go down to 0 and thought I had won a car but the site went down for “repairs”. They reset the timer back up to 10 minutes. I posted that on their facebook page and everyone called me a “sore loser” and all, but THEY didn’t make the bid that was supposed to WIN. My posts all got taken down.”
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Old 09-10-2011, 12:00 AM   #63
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I know old story, just wanted to update peeps in case they were interested.
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