A start-up penny auction company decided to earn some publicity by going big-ticket for their first online sale by offering a new Chevy Camaro SS. The winning bidder paid $5.28. Who says Internet economics don't make sense?
The buyer, Jonathan Mason of Frankenmuth, Mich., bought his ride from FastPennyCars.com, which plans to apply the excitement of penny auctions for tech trinkets and Arby's gift certificates to the upstanding world of new-car salesmen. Site founder Kent Kern told WNEM-TV even though his business took a bath of roughly $32,000 on the car, it bought great publicity for the next auction of a Mustang on July 15th. Crack open those change jars now.
Hat tip to Chief Pontiaxe!