To be a truly good penny auction player, you have to know the strategies, and be willing to have losing days or weeks. I haven’t come out profitable every single week, but most weeks I manage to win a great deal of new products for low prices. For instance, this last week, I’ve managed to make $3000 in profit just from selling products I’ve won on penny auction sites.
Now that I’ve amassed a huge amount of electronic items in my house, I have no need to continue participating in penny auctions unless I want to sell the products I win at a profit. So that’s pretty much what I’m up to these days.
Here’s a list of brand new products I won last week. I’ve included how much I had to pay for each item, including the bids, shipping, and end auction price:
- iPhone 4G – Paid $56.12
- iPad 64GB – Paid $72.36
- Panasonic FlatScreen TV – Paid $113.51
- Asus Laptop – Paid $86.14
I’ve also won a bunch of gift cards that I haven’t included in this list. After selling all these products through craigslist and eBay, I’ve ended up with a profit of $3000. That’s a decent amount of income, for several hours of work on penny auction sites.