Internet start-up sells new Camaro SS for $5.28

Illustration for article titled Internet start-up sells new Camaro SS for $5.28

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.

Advertisement

Hat tip to Chief Pontiaxe!

Share This Story

Get our newsletter

DISCUSSION

What they don't mention is all the fees that get tacked ontop of the purchase, both from the auction site, and then again from the state when they come to try and register the car. New car registrations go off of the msrp not the price you paid for the car typically, so you'd owe the state the tax value of the car + registration etc not the deflated auction bid value of 5.28 or whatever.