Penny Auctions Celebrates Their First Year

Jul 02, 2012, 21:50 ET from PennyGrab

LOS ANGELES, July 2, 2012 /PRNewswire-iReach/ --  Achieving a near cult status, beats the industry to celebrate their 1st year anniversary.


It wasn't so long ago, one year ago this July 4th in fact, that PennyGrab went online with a promise to its Members; "We will fix this industry!? 12 months later, PennyGrab has done just that.

From that promise to themselves and to their Members, PennyGrab has nearly single handedly found the path to ensure a fast, fair and fraud free penny auction model that has had forced vast changes to an industry that not too long ago was rife with fraud, shill bidding and outright theft. So how did PennyGrab achieve such success in such a short amount of time?


It seems like such a simple task, really; to give people the kind of service they have longed for in a safe and fair environment. Until PennyGrab, penny auctions were one of two things: a scam -or- a company that cared little, if at all, about customers. Having chosen a path like this, PennyGrab has grown to be one of the top 3 penny auction companies on the planet and they are seeing no sign of letting up. As a matter of fact, PennyGrab has actually challenged themselves to slow their growth in order to ensure that each and every customer can still receive the high level of service they've come to expect.

However, customer service can only carry a company so far. To that end, penny auctions have often neglected innovation and change. That is, until came along and decided that just wasn't good enough.

By recognizing the fatal flaw designed into the timer business model (that shill bidding happens, a lot), PennyGrab has managed to change not only the basic premise of how penny auctions work, but has changed the industry for the better still by making it as unlikely as possible for Power Bidding (aka: Bullying) to take place.

What was changed was the timer itself. PennyGrab eliminated the timer from their standard auctions and instead use a computer generated (at random) ending price on each item. No one knows 'where' any given auction will end, giving any and all users the same opportunity to win. Not only that, PennyGrab has also built into some of the auctions by having Bonus Prizes stacked randomly throughout their penny auctions, so even if you don't win the main auction itself, you've a good or better chance at winning bonus credits, gift cards and more.

Perhaps this is how PennyGrab has earned a much deserved 'A' Grade through the Better Business Bureau.

When all is said and done, PennyGrab has rescued the penny auction industry from itself and redefined what customer service should be for any business you're in contact with. If you've not had a chance to experience the thrill of victory in a penny auctions bidding websites yet, give PennyGrab a try, I think you will like what you see.

Media Contact: Lee Ryder, 424-972-1195,

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SOURCE PennyGrab