Selling Penny Auction Website / Made Over £12,000

Hello,

I had a Penny Auction website which because of the business changing I closed it down.
This website made over £12,000 which it was a UK based penny auctions.
The website made this amount of money in 3 months.

Costs (over all):
- £600 Google Adwords
- £100 Facebook Advertising
- £150 Yahoo Advertising

The software of the website was bought from Telebidscript or PHPPennyAuction.com and FULL PREMIUM LICENSE will come with this package with full support with the company.
All the stats and the paypal business account reports are available.
All the payments were thourgh paypal and NO REFUND at all as in the websites terms is written that the bid packages are not refundable.

The database of the website is also included which has over 500 active members that used the website.

The website can be up and runinng, but you need to have the time to control the website and the users.

It take about 1 hour to control the website and sometimes less than 15 minutes.

All the features of the website is included in the PHPPennyAuction.com and you can check it out, its the best script out there and the FULL PREMIUM LICENSE will come with this package.

The domain of the website is included with .com .net .org .info and .co.uk

The website has been down for 24 hours and before that it was up and running.

The website comes in the 2nd page and sometime first page of "Penny Auctions" and "UK Penny Auctions" .

60% of the traffic was from the search engines and 40% advertising.
The website has around 200 - 600 uniques per day and in UK the Alexa rank is around 16,000.

It has a very huge background and it can be used again in no time, as i said the website has been down for just 24 hours.

As i have closed it down I dont want big money for it, but a reasonable price. I have changed my online business and I don't need this anymore, if nobody buy this It will be deleted.

If you are a serious buyer please send me a pm so I can send you the details of the website.
Please tell me the price you are willing to pay for this website in the PM as well.

good luck

 

I bet it's reetbid.com, and I bet I know why you closed it down.

 

why was it closed?

 

Seems strange you dont want a website that makes/made £4000 a month (thats alot of spendies )

Thats the first thing that will put someone off, for what you say 1hr or so a day to manage,

and you will delete this if no one buys ?
what is your reason for selling/deleting a perfectly profitable business.

 

Look, these websites need a good advertising money, I could not handle the advertising costs because I didn't spend the profit on advertising.
Its not like I want to sell it but its not doable right now with my situation.
Im not saying its a great offer and you must take it.
If you think you can handle the adveritising and put all the profit on advertising for the first 6 months then take this website if not, leave it as I did.

I hope this is clear.

 

But you say its 850 per month advertising to make 4000 profit = 3150

My maths is not to good but that sounds like a sound website.

just seems strange you'd actually chuch away 3150 a month profit for the sake of 1hr a day ?

Whats the real reason, legal issues, tax issues ?

If it's a personal issue, sorry for probing.

 

Not all of that is profit, some of the money goes for the winning products as well. for example out of 4K at least 2K is profit.
Thats not the point as I mentioned earlier I spend the profit for my self and not for advertising. For the first 2 or 3 months you need to put all the profit for advertising to get users as much as you can. Its too late for me to do it as I don't have the start up money to put that kind of money for advertising.
Its not a easy business.
Plus, the company at the end of the year will probably get 4 to 6K from you ...
Im not a business man and I messed it up, so im giving it to someone who can manage all these ...
I have the domain, software, database and a good background with real users. If you can use these then be my guest.
The asking price is what these worth, nothing more...
I hope this is clear

 

http://forums.digitalpoint.com/showthread.php?t=1505095

It is indeed reetbid.com.
He's tried to sell it on flippa.com before.

There were questions asked on flippa (Auction now deleted) about how he made so much money when things were selling for such a low price. (For example a iPhone for about $4, which is equal to about 400 * 50p = £200)
He said in the comments that he would tell the winning bidder how this return was made..

I didn't bid on it then because I thought that the secret might be that he uses and autobidder (A feature of the phpscript he purchased http://www.phppennyauction.com/PHPPennyAuction_Brochure.pdf) to automatically outbid everyone indefinitely.

This leads me to suspect that he just never awards prizes.
His site also never had a business address which also adds to my suspicions.

I would be very careful with this. Ask to see receipts for all the prizes he gave out. He should have at least £50K+ worth of receipts if he's made £12K from this site..

 

OMG, are you for real?!
This is not a prize give away website, its a lottery website with auction style.
How do you think Online/Offline Casino and Bingo websites work?!

When you know nothing about these websites then don't comment. You sound like a baby, can I ask how old are you?
Do you know why THAT script has the auto-bid feature? because it was made by one of Swoopo.com's partners (Telebid) and then they made Telebidscript and 24 days ago Swoopo bought it again and they ALL have that feature. Every single casino or penny auction website has that feature and you can use it if you want.

The website is not related to a Company anymore, no company address is in there, but if you are very curious you can go to the companies house and search for it, im sure you can find its address and you can see if im right or not.

 

First of all, a nice rational reaction from you there.

Secondly, I know exactly how these websites work and that's why I wasn't sold on your business plan when I looked at the prices all your prizes were going for. (Impossible now you've closed it down)

IIRC your bid price was one of the lowest on the scene. Something like 50p a bid.

Then looking at the ending price of a lot of your auctions it all just didn't match up. Things were going for hundreds of £ less than you made in selling bids.

Anyway, it should be fine since you will have a receipt for that corsa that you were giving away..

Any buyers are advised to seek a copy of the receipt for a Vauxhal Corsa.

 

By the way @GeorgeStone, I can prove specifically for each penny auction website that they use auto-bidder feature. From Swoopo to all other penny auction websites.
This is how the lottery works. Its not a charity its a lottery website.

 

Erm first of all Swoopo.co.u charge 50p and i charged 50p so nothing was SHOCKING.

Second of all, you say that you know how penny auction works and still using the words "Prize" and "Giving Away" ...

Im sorry but I wont waste my time on learning other people.

 

reetbid.com is not working here...Only me?

 

The website is closed as i mentioned in the first post. Its been 24 hours.

 

So you're saying that you use an autobidder to make it more like a lottery, rather than using the legal grey area that every other penny auction site uses to go unregulated?
So I presume that you have a prize gaming permit?

http://www.gamblingcommission.gov.uk/find_licensed_operators.aspx

 

I see it now. Sorry.
Difficult to have a good idea of what it was then. At least for me...

 

You're the one saying your business is a lottery. Then you're telling me not to call your 'auctions' prizes.

You're the one I should be "learning".

 

No I never said that I used any auto-bidder.
I fact in the websites Terms and not just mine all of them its included that bidding on the product doesn't mean you will win it, and you are not bidding on the product, you are bidding to get the right to win that product with the final price.
Eveyrhing is included in the terms page and eveybody knows everything when they sign up.

 

Ok sir,

If you don't want to buy this then leave it please.
Im not here to sell the website as it makes money...

Im selling the domain and the software with database and everything that is needed to have that website.

All im saying is that this is how this website USED to work. If you want it then im selling it for a much cheaper price because I can't re-run the website anymore because of the financial problem I have.

The reason I replied to you was an answer to that flippa listing that you mentioned.

I don't care how the website used to be. Now im only selling the domain the software with its database and full license.

I don't think thats confusing, is it ?

Thats it.

 

So your selling a copy of the site and keeping yours up?