Some news from my area:Frankenmuth man wins $35,000 Chevy Camaro SS for $5.28 | MLive.com

 

Wow awsome!

 

Hi `Lou, It should have been one of us
Life is a Gamble, sometimes you win, many times you don't

Lucky Dude 4-Sure, but he took the chance.
"You can't Win, `if you don't take a Chance" ~>4-Sure : )
================================
`Lou thanks for all your super Thread creations & contributions to the MCF...We appreciate 4-Sure...
Thank You

 

I wouldn't say he only spent $5.28 though.

The way those Penny things work is that you buy packages of "pennies" for a good amount of money. Then you bid your penny bets. You can wind up spending a good amount of money on those and not even win!

 

At 5.28 there were 264 bids. Each bid is roughly a dollar. Not to bad.

 

But how do they make money? Even at 264 bids with each person required to buy $40 of bids, that means the car only netted a little over 10 grand. And then people can use their bids on the next auction.

 

Here's a follow up UPDATE on Camaro auction: Readers debate validity of penny auction site; clarification on how it works | MLive.com

 

The publicity that they are getting from this story is going to either drive TONS of people to the Mustang bidding, or get a lot of people buzzing about their dealership.

They were very smart with what they just did lol

 

Geez what luck lol my luck sucks so i know that would never happen to me

 

Not fair!