February 02, 2012 10:47 ET

Penny Auction Website Features New Firearms

Bidders Compete in Real-Time to Win New Firearms for Much Less Than Wholesale Prices

EASTON, MD--(Marketwire - Feb 2, 2012) - Penny auctions, the collective social buying experience born of social networks, bringing both entertainment and extremely good values to consumers, has added yet another category -- new, in-the-box firearms. is the latest Website to announce individuals may register to bid on their favorite new firearm. The Website features popular and sought after firearms -- GLOCK, Remington, and Bushmaster. was founded by a U.S. Marine and police officer family to give firearm enthusiasts and collectors a great place to bid and win new serial-numbered firearms at great prices -- generally 70%-90% off suggested retail prices. All items up for auction are held in inventory and the serial number of the item bidders are bidding on is displayed with the item on the Website. Bidders may register now and live auctions will begin closing on February 11, 2012. Promotional bid codes, including MYNEWGUN have been sent to many U.S. registered firearms owners providing free bids upon registration with no purchase required.

All auction winners are required to select a U.S. Federal Firearms Licensed (FFL) dealer in their local state to receive the firearm they have won, in accordance with U.S. Department of Justice / U.S. Department of Alcohol, Tobacco and Firearms (ATF) guidelines. Auction winners will be able to claim their auction item after the receiving FFL in the winner's state confirms that the recipient meets all of the receiving state's requirements for firearm ownership, including age, no criminal record, designated wait times, and all other individual state requirements. Penny Gun Auction hours will be from 6 PM to 2 AM (ET) and all firearms will only be shipped within the United States.

Penny auctions combine the best of online shopping with entertainment and huge savings and are used by millions of people to win a variety of popular consumer products like iPads, televisions, electronics, sporting goods, and appliances for prices much less than regular retail. The newest addition to the items available is the new firearms category. For every firearm auctioned, Penny Gun Auction will donate $10 to an approved veteran's charity.

How Do Penny Auctions Work? Bidders register and login in to the penny auction Website. Once registered with the website, consumers purchase bid packages in order to place a bid on any auction. With each new bid placed, the auction price increases by one penny -- hence the term 'penny' auction. When an auction gets down to the last 30 seconds every bid placed will reset the clock to 30 seconds. The time increase gives other active bidders a chance to respond and bid again if they wish (similar to the way an auctioneer in a live auction says, 'Going, going, gone'). An auction ends when there are no further bids and the clock reaches zero.

ABOUT WWW.PENNYGUNAUCTION.COM -- Founded by a U.S. Marine and police officer family. The Website was created by firearms enthusiasts for firearms enthusiasts. The penny auction model is used to bring the excitement of attending a gun bash to online users. For every firearm auctioned on the Website, Penny Gun Auction will donate $10 to an approved veteran's charity.

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