Consumers Alert - How To Save Money In A Recession: "Penny auctions allow individuals to do just what it implies, win popular products for pennies on the dollar. Leading the way in this new auction model is BidRack.com, an California based company. BidRack auctions off brand new popular products such as iPads, Macbooks, HDTVs, Digital Cameras, Gaming Consoles, and more for steep discounts of 75%, 80%, or even 95% off retail price.
Sounds too good to be true right? Surprisingly, it's not. See, BidRack isn't run like your typical auction. Along with people snagging great deals at a fraction of the product's cost is the fact that users pay to participate in these auctions. Each bid placed on BidRack costs users $0.60. By collecting $0.60 for each bid placed, BidRack is able to afford giving away products on the cheap such as Macbooks for $23.72 or Nikon Digital Cameras for $57.42."