The Concept: Penny Auctions
Even though auctions of all types have been around for thousands of years, there is a new kind of auction that is taking the world by storm. It’s called the “Penny Auction.” Penny Auctions combine the thrill of online shopping with gaming and intense bidding, to form a highly captivating and enriching experience.
Penny Auctions are very entertaining and addictive because unlike eBay or other auction sites, Penny Auctions happen in a matter of hours or minutes, instead of weeks or months. The attraction of Penny Auctions is easily understood. In this economy, where many people are forced to “do without,” Penny Auctions give them a chance to get that new luxury item they couldn’t otherwise afford. For a fraction of the cost (literally pennies on the dollar), they have a chance to get that television, laptop, purse, iphone, jewelry, gift card, high end consumer item and even cars they have always wanted. It is possible to win an auction and receive up to a 99% discount on name brand merchandise. Our current plan is to only sell new and shrinkwrapped merchandise.
This new form of shopping entertainment is truly exhilarating and creates an appetite for game play. Management believes through their countless hours of due diligence and worldwide market research that the Penny Auction market is getting into a position that is ready to explode worldwide! Yet a large part of the worldwide market remains largely untapped, leaving the door open for Penny Auction Solutions to capture a sizeable share of the global Penny Auction market.