I discovered Penny Auctions, almost a year ago. during that time, I signed up for and used numerous Penny Auction sites. Out of the 6 that I used regularly, and won quite a few great items. Most of which I have received already.

However, well over 115 days have passed, and I still have yet to receive a single item from Posh Bids (unless of course you count the free bids, which can be used to bid on more items you will not receive).

The thing that makes me the most angry about this issue, is up until this last week, they continued to list auctions and sell bids to people, charge people for winning the items, and shipping too. They continued to take money from people, and not send a single item.

Am I the only one......I cant imagine so - as why would they single out me to screw over? I did nothing, other than buy bids (approximately $1500 worth of bids). Pay for the item, and the shipping cost, to ship the item. So why would they single out me?

I'm 99% sure, they did this to numerous users.

And forget trying to get them to respond to an email - Out of the 8 or 9 emails I sent them, requesting information on my items; they responded to 2 of them. And one email said "all my items would arrive very soon". That was almost 3 months ago.

I have since filed a claim with Paypal, and contacted my bank, to try and recoup the money that I spent on bids and of course, they will not respond to them either.

Although everything was paid through paypal, and paypal offers their users protection from this type of thing, the transactions are past the 45 day window that they allow. So, only 3 transactions are covered.....maybe.

So basically as of right now, I am out $1600, and thats just me! They had quite a few users on their site. They listed roughly 6 auctions a day, Monday - Friday. That equates to well over 1000 auctions/items, that will probably never be sent out.

How can these people get away with this? Why cant anything be done to protect consumers from Internet schemes like this? How can they just simply get away with stealing from their users?

They had been in business for well over a year, before I started using the site; therefore, I thought they were legit. Could not find any reports, saying that they did not ship winnings out for 115+ days. And I still cant find many other reports, on them doing this to others.

They did finally post something on the front page of their website that says they have basically "recovered from the attacks on their servers". And that "all winnings will be shipped shortly", and finally apologized for "all the inconveniences", caused by the problems they faced last month". I can assure you, this has been going on for much longer than just last month. And in all reality, they have already told me this...and by the sounds of it, plenty of other users as well.

One thing to note - aside from the message on the front page, it seems that they have finally stopped listing auctions...although I cant validate for how long. Nor can I validate if they have stopped selling bids.

If anyone has any suggestions on what other ways I might be able to recoup any stolen monies; any suggestion would be greatfully appreciated.

As well, I wanted to warn as many people as I can about Poshbid, and other Penny Auctions that are simply in the business to steal from consumers.

Do your research!!! Thoroughly do your research on these "PA's". Make sure you check for available reviews on pennyauctionswatch.com. If they are not reviewed, stay away from them! Penny auction watch is a great site that can help you find the legit sites.