Why is nobody telling the truth about penny auctions. Let’s use David K’s example: “I just won a 42 inch Sony tv for only $56.43! This auction site works like it says” Yes, that was the final selling price. What was really spent on that auction? Each penny bid costs 60 cents (QB!D example), so 60 X $56.43 = $3385.80. That’s what the TV really sold for. That’s one damn expensive TV! This a just a form of legal gambling!