Private Reply to Kurt Schweitzer

Kurt,

You may be interested to know that Pennylord is selling a scooter right now that retails for $2,800.00. At the time of this posting, the high bid was just $5.07. I am truly amazed.

Unlike Ebay, all the products on Pennylord are new. At least, that is what I read. All the products are new and being sold by Pennylord - not a wide assortment of invidual entrepreneurs like on Ebay.

More often than not, the individuals who sell on Ebay are purchasing return merchandise from such places as Amazon.com. Once something has been returned to a retailer, even if it has never been used, it can no longer be sold as new merchandise. Hence, places like Amazon allow bulk purchasing of returned merchandise for sale on Ebay.

But, Pennylord is not playing the game that way. It's not making money off the sale of the product. It's making its money off the number of folks bidding on it. They don't care what price the product sells for. They just care that a LOT of people take the time to bid. The longer they leave an item open for a bid, the more money Pennylord can make. That is why Pennylord sells credit. Their real focus is on revving up the bidding process. It's like a casino wanting to supply you with more tokens to play the slot machines. What can you do with a token outside play a slot machine? Nothing. And, what are you going to do with the credit Pennylord gives you but place more bids.

I have been to a lot of carnivals. I have often seen folks walking around with those big doll prizes. But, not once in my life have I seen someone win one of those dolls in a carnival booth. I feel Pennylord may be playing the public the same way a carnival barker does. But, I honestly hope I am mistaken. To me, Pennylord is extremely enticing to a would-be bargain hunter like me. I really do want to be wrong about this.

On Ebay, you often have two different ways to acquire a product. You bid on it until the product is sold. Or, you pay the "Buy it Now" price. To me, Pennylord, is akin to purchasing raffle tickets at 80-cents apiece. Well, how many raffle tickets do you have to purchase to end up being the party that wins the prize? So what if each bid moves up the price up just one cent. It's not about the price of the product. It's about the price of the process to those willing to place those 80-cent bids.

On Ebay, I don't risk spending any money unless I end up with a product. On Pennylord, I gamble. I pay to play - whether I walk away with the auction item or not. Is it worth it? Well, I have bought a few lottery tickets in my time, but I have never won the lottery. My ROI on lottery tickets was 100% negative cashflow. So, I stopped buying lottery tickets. I got tired of losing, so I stopped playing that game.

Lamar Morgan

Private Reply to Lamar Morgan 954-603-7901

Private Reply to Kurt Schweitzer

Kurt,

Even if you did not want to own a scooter, who wouldn't bid $10.51 to own a scooter worth more than $2,000? However, if I understand the Pennylord process correctly, your bid of $10.51 costs you 80-cents and moves the bid price up to $10.52. Now, should no one else bid on the bike, you should be the winner of that bike for just $10.52. But, that is not likely to happen is it? Because Pennylord will leave the auction open until they have more than covered the retail cost of that item with MANY 80-cent bids.

Despite the fact that scooter may finally sell for a incredibly low amount of money, Pennylord will have made a significant profit from all those 80-cent bids. The fact that each bid only raises the auction price a penny is really deceptive so far as what is really happening here.

I do not know that the way Pennylord operates is violating some kind of law or not. But, it is definitely clever. The time to enter a Pennylord auction is at the end. But, how does one know when the end is near?

Lamar Morgan

Private Reply to Lamar Morgan 954-603-7901