Penny auction sites have not managed to recover from their downward spiral in 2011
Big name companies started leaving the scene, as well as a few scams that ripped off consumers, making them cautious of the penny auction scene.
However, this is great news for those people who still use the sites, there is reduced competition meaning better results and less money spent. If you were thinking of taking up this concept as a business opportunity, there is more work in running a penny auction site than you could imagine; it is hard work and you will need to have access to a penny auction merchant account so you are able to take a number of different payment options from your customers.
There are great sites that offer the same penny auctions that have lasted against the odds after the crash in popularity.