With their low-rent advertising and seemingly outlandish success stories of people buying vintage cars for only a few dollars, so-called penny auction sites like QuiBids.com and Swoopo seem too good to be true. News coverage on these sites appears to be divided — between labeling them retail crack and covering the latest bottom-dollar big buy — so we figured it wouldn’t hurt to ask the Consumerist hive mind to see if any of you have had first-hand experiences with penny auctions. [More]
