User:Gurneyhalleck
For10cents.com is a penny auction website. It's the type of auction in which participants pay a non-refundable fee to place a small incremental bid (typically 1 cent, hence the “penny auction”), which extends the time of the auction by a few seconds. Bid prices vary by site - at For10Cents.com bids can cost as little as 10 cents. When time expires, the last participant to have placed a bid wins the item and also pays the final bid price, which is usually significantly lower than the retail price of the item.
Company history
[edit]For10cents.com, Inc.’s auction site began its operations in July of 2009. The company is registered in the state of Delaware and it is qualified to operate in the state of Illinois. Currently, the Company’s headquarters are located Park Ridge, Illinois, a suburb of Chicago.
See also
[edit]- Auctionair, an auction based web site that charges bidding fees. Has both High and Low Bid auctions.
- Dollar auction, a game theory experiment similar to penny auctions.
- Unique bid auction, another auction style in which bidders pay for entry and ending prices are very low.