Sellmoo (Sellmoo.com) is a penny auction site which was established in 2009 and claims to be one of the oldest and most reliable penny auctions sites available online today.
Unlike other penny auction websites, Sellmoo claims to have no “reserve” on their auctions, which means there is no minimum price that must be reached during an auction for it to be considered over.
Initial registration at Sellmoo is free, and their bids are priced at 60 cents each and available in different sized bid packages, which can be used to bid on thousands of items, which can be won at up to 95% off their retail price.
Penny Auction Controversy
Penny auction websites have received increasing criticism over the last few years as they have become more popular. One of the most popular complaints is that these sites are more like gambling than auctions.
Since you must pay for a chance to win, and those who lose the auction lose their money, the setup of penny auctions is more similar to a gambling site than a traditional auction site where there is no penalty for losing.
However, there are more serious claims being made recently of penny auction sites auctioning off items they don’t actually have in stock, and then simply refunding the money to the winner of the item, but keeping the losing bid money.
Or sometimes these sites will auction off certain products but then send different but similar items to the winner because of stock and availability issues.
Problems with Sellmoo?
A potential red flag with the Sellmoo penny auction is that, unlike other penny auction sites, they do not allow you to see any in progress auctions or even view the items they have available for auction until you have already purchased a bid pack.
Their Terms & Conditions makes it clear that no purchased bids will be refunded, so this puts new members of Sellmoo in a difficult position. You have to be willing to spend at least $24.00 – the cost of their smallest bid pack – to even decide whether or not they are selling items you are interested in.
Before registering with any penny auction website, it’s always best to look for customer reviews in order to identify any potential problems so that you can protect yourself.