Passive Penny Auction Profits No Sponsoring Or Recruiting

A new concept has emerged from Europe in the auction scene. It is called a Penny Auction.  There are over 200 Penny Auctions in the marketplace but only one of them is allowing consumers to share in the profits they are generating daily without recruiting or sponsoring.
What you are about to discover is far superior to any conventional mlm business opportunity

The company behind the auction has been in the same location for 14 years and at one time managed one of the fastest growing business opportunities online. For a year as of this writing March 26, 2011 they ran a Penny Auction that allows consumers the ability of purchasing  new name brand products at 90-99% off through their auction.

Items range from ipods, computers, video games and video game consoles to house hold items and appliances. A big draw is also gift cards from well name stores like Walmart, Target and Best Buy. The way the auction works is different than the traditional auction most are familiar with. With a Penny Auction the retail price of the item is shown and the bidding starts at zero dollars and zero cents. When a bid is placed the price increases by a penny.  A timer begins counting down when the auction starts and the last person to bid when the timer hits zero wins the item at the price shown at the time of expiration.

What keeps the activity going for extended periods of time is once the timer reaches 20 seconds it will never go above 20 seconds but each new bid will add 5-15 seconds back to the timer.  The excitement of a penny auction is addictive. This drives the price up but the winner still gets 95-99% off. I actually witnessed a $100 Walmart Card go for 4 cents! Now if you’re like me your first thought would be that the company will go broke doing this and that they must be losing a ton of money, you would be wrong just like I was.

Here is how the company makes money. In order to participate in the auction you need to purchase bids. Bids cost 60 cents to $1.00 per bid on the retail site. Here is an example. Lets say they auction off a $100 Walmart Gift Card.

The starting bid is $0.00. Each bid moves the price one cent. Participants have to buy bids, and each bid costs $1.00 per bid. So if the winning bidder gets the product for $28.84 they get a good deal.

The company would be out of pocket $100 but they took in 2884 bids and since each bid cost $1.00 they took in $2,884.00!
Deduct the $100 the paid for the card and they have made a profit of $2774.00 on one item in one auction alone!

Here is what is really unique about this company, they have set up a rewards program that works similar to the cash back rewards programs offered by the big office supply store Staples and other retailers. This is how you can grab your share of the profits generated by this unique penny auction company. Simply purchase bids from the rewards program at $1.00 per bid with a $10 minimum. The company then gives you an equal amount of credits in their rewards program tracking system. So $1000 in bids gets you $1000 in credits.

The company writes ads promoting their auction and if you take one ad they write, and post it on one of the online advertising sites they suggest and give them the location of where you posted the ad, they will give you a share in profits daily until you receive 125% more than what you spent on bids.

This process takes 3 minutes per day and all the places they suggest are free to post ads. With a $1000 purchase you will get paid a share of profits for 90 days! Each day you receive cash rebates you have an option to withdraw the cash or use all or a portion of it to purchase more bids!

This allows you to compound your rebates. If you purchased $1000 in bids and compounded your rewards for a year you would end up with over $37,000.00

Simply give the bids away to consumers so they can sample the penny auction and you are on your way to passive profits you can count on!

UPDATE FEBRUARY, 22nd 2013.

If you are not aware of this the program I was writing about was called Zeek Rewards. It was a phenomenal program that was shut down
by the government in 2012. I would not call it a scam but I no longer believe the Penny Auction industry is viable as a means of
generating passive income. Primarily because a number of states have been trying to have Penny Auction
Sites put into the same category as gambling sites.

There is however a new way you can get paid daily revenue sharing for just 3 minutes of work per day
WITHOUT selling, WITHOUT recruiting and WITHOUT posting any ads.

Check out this unique new Revenue Sharing Opportunity for truly passive daily profits.

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