How can I start a penny auction site?

[easyliving]

they are rising in number very quickly and theirs ads for them all over the place. Most of you probably know how they function. With enough starting money and a solid advertisement these sites are pretty much a guarantee to make money. How can I start one and how many different permissions and licenses do I need to get before I can open such a site? Also how much startup money would I need?

[Kermit]

The rise in their number shows how stupid people are getting throwing their money away.

I remember when swoopo started up. I watch it for hours as they were basically printing their own money.

[easyliving]

The rise in their number shows how stupid people are getting throwing their money away.

I remember when swoopo started up. I watch it for hours as they were basically printing their own money.

thats exactly what it is with the right business model eventually you will be making big profits but you gotta take losses early on. The main issue of course is the starting up part.

[Kermit]

thats exactly what it is with the right business model eventually you will be making big profits but you gotta take losses early on. The main issue of course is the starting up part.

There have been quite a few of those that started up and folded up pretty quickly though. It's hard to jump in and be the new guy and get anywhere. There was one point where you could actually buy a penny auction site right on Ebay. That was a few years ago.

I still can't believe the money they were making. I watched $1.500 LCD televisions generate 9 grand profit.

Once you get so invested in an auction, you almost cannot quit.