Yeah penny auctions are ridiculous. Swoopo.com and BidCactus.com and Beezid.com are some others too.
They make SO MUCH MONEY! I really wish I would have thought of it. Beezid has done a few Ford Mustangs. On average they have sold for $719.66. This is 71,966 bids at an average of about $.70 per bid, that is $50,376!!! The car retails for about $28,000, so they make a $22,000 profit off just that one item! It's crazy!!!!!!