Penny Auctions Review – Are Penny Auction Sites The Wave Of The Future?

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You’ve probably started to hear about new sites that allow you to buy brand new items like iPhone 5′s, and LED TV’s and other expensive items for pennies on the dollar. These sites incorporate a new way of auctioning that’s taking the world by storm and leaving old auctioning sites like eBay in turmoil. In case you’re still wondering, I’m talking about Penny Auctions.

—-> Click Here To Sign Up With ZBiddy <—- Use The Promo Code: “Special Bonus” !

I was curious about how these auctions worked, so I signed up for a BBB Accredited Penny Auction site with a good reputation called ZBiddy . Apparently, Penny auctions work by having people purchase “bid packages”. Usually you get anywhere from 100-500 bids in a bid package, and you use up these bids by bidding on an item you want. Everytime someone places a bid on an item, the price of the item goes up by one penny.

Taking a look through the items on ZBiddy, I was surprised by how many of them were really expensive products (Sony TV’s, New iPhone’s, etc…)  that were going for really cheap. What you do is place a Bid on the item you want and this increases the bid timer by 10 seconds. To win an item you have to be the last bidder when the timer hits 0.

Click Here To Try ZBiddy

So my strategy to win a penny auction for a new Apple Ipad 3 was to wait until the timer hit 20 seconds left, and then start placing my bids on it. I waited patiently while the timer counted down, and once it hit that 20 second mark, I started placing my bids. I placed about 15 bids before the timer finally hit zero and I won! I was beyond excited, because the price of the item was only $11. That means, after spending 15 bids and having to purchase the new iPhone 5, I only had to spend a total of Under $25!

—-> Click Here To Sign Up With ZBiddy<—- Use The Promo Code: “Special Bonus”!

I knew then, that I was about to get addicted to Penny Auctions. This is the real deal, and blows eBay and other auction sites out of the water. I’m finally able to buy all the Christmas Gifts I want for a super low price!

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StealBids Review – The TRUTH ABOUT STEALBIDS

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I’ve been seeing advertisements pop up for a new type of online auction site called StealBids. According to a lot of my friends and reviews online, by using this penny auction site, you can purchase brand new iPads, iPods, and a bunch of other things for less than than retail prices. Being the natural skeptic that I am, I still doubted that it was possible to buy brand new items for such a cheap price. I decided to give it a test and find out whether or not it really works once and for all…

I started off by going to the StealBids website and taking a look around at the different deals they had going on. I saw a lot of cool new electronics that were being sold for very little money, so naturally, I became pretty interested. Ever since the new iPhone 4 came out, I’ve been wanting to get one.

Click Here To Try Out ZBiddy For Yourself —> It’s Better Than StealBids  (Use The Coupon Code: Special Bonus!)

With StealBids you have to buy a “bid package” to start bidding. I bought 300 bids (400 bids when I used the coupon code swipe100ex). I figured I’d have the best chance of getting the items I was looking for if I started off with a lot of bids.

Next, I looked around for the new iPhone 4GS and I found one of them up for auction right away. If you’re not familiar with the way Penny Auctions work, here’s basically what happens: There’s a timer that’s counting down towards zero and any time someone places a bid, the price of the item increases by $0.01 and ten seconds is added to the timer. When the timer goes to zero, the last person who placed a bid gets the item for the listed auction price.

Anyway, I really wanted to get that new iPhone 4GS, so I decided I’d start bidding on it when there were only 10 seconds left on the timer. I bid back and forth against someone for awhile, and in the end I used up 25 bids, but I actually won the auction! The listed auction price ended up being $12 from all the bidding that went on. I couldn’t believe it, I was actually able to get the exact item I wanted within 30 minutes of using StealBids. That’s an iPhone 4GS for $12 and 25 bids! But Here’s where the problem came in, it took them over 4 weeks to deliver my new iPhone.  I wasn’t thrilled with their customer service or their delivery times, so I found a site that works even better called zBiddy.

Click Here To Try Out ZBiddy For Yourself —> It’s Better Than StealBids (Use The Coupon Code: Special Bonus!)

Overall StealBids is still a decent Penny Auctions site to use if you don’t mind bad customer service and long delivery times. After trying out a couple of different sites though, I now recommend a site called ZBiddy (they have super fast delivery times, and outstanding customer service + a B+ rating with the Better Business Bureau).

Now I’m getting the newest products for less than retail. I’m even thinking about bidding on a new car soon. Overall, I’d definitely recommend ZBiddy to other people, as it really works. I kind of don’t want to let this secret out though because that’s going to mean more competition.

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BidRivals Review – How Does BidRivals Compare To Other Sites?

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Some people have been sending us emails asking us how BidRivals compares to the other penny auction sites we have listed here.  Here’s one email we received from one of our loyal readers:

“I know you guys talk a lot about different penny auction sites on your site but I’ve just seen a bunch of advertisements for a new auction site called BidRivals. Do you guys have any info on this site or a review you can put up? Thanks in advance” – Tim, Sydney Australia

We decided to take some time out to write up a brief review on BidRivals for all you guys and gals that sent us emails.

We did a little test with BidRivals recently and we found that they have a little more competition than the other penny auction sites we’ve reviewed. This is because they accept customers from around the world, whereas, DealFun only accepts customers from the United States.  Because they accept more countries than other penny auction sites, you’re going to find a much larger selection of products, and still very little competition.

But even though BidRivals may have a little more competition than the other sites, they also have a GREAT selection of brand new products to choose from, and their customer service is top notch. We received some of the items we won in less than a week, so their delivery times are really good too.

We definitely recommend using them no matter which country you live in.

Here’s how they rate:

  • Competition: low to medium high
  • Delivery Times: Fast
  • Product Choice: Great
  • Customer Service: Great

Our overall rating for BidRivals is 4.5/5!

BUT… If you live in the United States you should use DealFun- Get 100+ Bids For The Best Chance To Win

If you live anywhere else in the world, then give BidRivals a try!

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Jeaper.com Review – Is Jeaper The Next Big Auction Site?

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The new kid on the block in terms of Penny Auction Sites is called Jeaper.com. They have a great sales page, but we still weren’t sure whether or not they actually had great deals. My wife pushed me to give it a try and find out of I could get her a real expensive piece of jewelery for a low price (at least she thought of our finances).

I signed up for the Jeaper bid package and bought a large amount of bids — like we’ve mentioned in other posts, it’s a good idea to get a large amount of bids..

I then went hunting for a really nice necklace. It actually took me longer than expected to find one as there didn’t seem to be as many auctions going on as my favorite penny auction site — DealFun. Eventually though I managed to find a really sweet necklace on Jeaper that had a retail price of over $1000!

Click Here To Sign Up With Jeaper.Com —> Use Promo Code: WINBIG For 10 Free Bids

I knew my wife would be super excited if I managed to win it for her so I watched the auction cautiously. Surprisingly, there weren’t many bidders… It seems that because Jeaper is a new site there aren’t many people that use it yet, which turned out to be great news for me.

I waited until the timer dropped to under one minute and then I went all out. I only had to battle two other bidders off; we exchanged bids for awhile until they eventually gave up or ran out of bids. These guys didn’t know what they were doing at all.

The timer hit zero and the necklace was mine (ugh, I mean my wifes). My total cost for it including bids was only $55! This necklace had a retail value of over $1000!!!

They delivered it through Fedex in about two weeks, which is a longer delivery time than I expected (DealFun and GrabSwag are faster). When my wife saw it she was in shock… She couldn’t believe that I was able to get her such an expensive jewelery for $50. In fact, she was so shocked that she took it to an appraiser. Sure enough, they also told her it was worth over $1000!

Now she’s always bugging me to get her stuff from these penny auction sites :( . So, what’s the verdict on Jeaper?

Even though it’s a new site, they deliver some high quality goods. The best part is that you don’t have to deal with too much competition. However, my favorite penny auction site is still DealFun and then GrabSwag comes in close second. Jeaper still rates 3rd or 4th on my list.

Give it a try for yourself and let me know how everything goes…

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DealFun Official Review – You NEED To Read This Review

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DealFun is one of the first penny auction sites we’ve reviewed but we never got around to posting our initial review up on it. It’s still our number one site for penny auctions, so now’s as good a time as any to tell you about it and why you should use them if you’re thinking about trying out these revolutionary new auctions.

After using DealFun for a full month we found that it was reliable, had amazing customer service, and best of all, it was EASY to win auctions. A lot of the other penny auction sites on the internet either don’t provide you with enough new products to bid on, or they’re really hard to win (take BidCactus as an example).

—> Click Here To Try Out DealFun <— Sign Up Today For 50 Free Bids!

We found DealFun to be extremely easy to win, and although it’s getting a little harder now that more people are using them, it still blows other sites out of the water in terms of less competition.

Another great thing about DealFun is that they deliver the items within 1-2 weeks! We’ve heard some complaints about their delivery times, but those all come from back in the day when DealFun was just starting out. Now that they’ve become an established Penny Auction site we’ve been receiving our products sometimes in as little as 5-6 days and at most a maximum of 2-3 weeks (standard delivery times for even Amazon and eBay).

On the rare occasion that we had to speak with a customer service representative, they were easy to get a hold of by phone or even through their live chat feature. They took care of any questions or problems we had pretty fast too.

The only drawback of DealFun is that if you live outside the United States you can’t use them. If that’s the case you can still use BidRivals (if you’re from Canada),  which is also a great penny auction site.

But, currently DealFun is still our top rated penny auction site and unless something drastic happens, it will probably stay at the top of the list for a long time.

—> Click Here To Try Out DealFun <— Get 100+ Bids For The Best Chance Of Winning!

If you think there’s a better penny auction site out there, please send us an email so that we can give it a try and post up a review here.

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ZBiddy Review – How Does ZBiddy Work?

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New penny auction sites pop up on the Internet every single day, and it’s hard to keep track of them all (let alone try them out). ZBiddy is a site we recently took a look at as they’ve been launching some big marketing campaigns. Their website works pretty much like any other penny auction site you can bid on.

You start off by purchasing a bidpack of your choosing, and each bid costs you $0.60. As a sidenote, this is important and you should remember exactly how much you’re paying every time you use one of your bids. In the case of ZBiddy it costs you sixty cents for every bid you use up, while other sites vary in the cost per bid. You can buy bid packs with the following amount of bids; 45, 75, 300, 600, and finally 800 bids. Honestly, if you’re a beginner, it’s probably best you purchase the 300 bid pack.

There’s a good reason why you don’t want to just purchase 45 bids if you’re new to penny auctions. The main reason being that you’ll end up spending them really fast while you’re trying to learn how these auctions work. Once you’ve purchased your bids you look for auctions you’d like to jump into. Personally, I tend to stay away from the high end electronic products now because they usually have a bunch of competition. The high end products are meant to generate a lot of buzz and pull in the newbies so that the penny auction site can make its money. On the other hand, the smaller items and gift cards usually can be won without having to fend off hordes of competitors.

If you’re new to penny auctions, try to stick to the less competitive products. Go for gift cards and small electronics (like iPod Nanos), and make sure you set a budget before you start bidding on anything.  Also, what’s great about ZBiddy is you can see exactly which user you’re bidding against – and over time you’ll come to find out which players you should stay away from and which ones you can scare into stopping. Make sure you watch a couple of auctions on the site before launching into a full bidding war.

Another mistake I see a lot of users make on ZBiddy is that they try to participate in several auctions at once. This is a big no-no for me as it usually ends up in me losing all of the auctions (and walking away empty handed). Pick your battles and try to stick to bidding on one or two items at a time.

Another thing to keep in mind is that your bids are Non-Refundable with ZBiddy. That means, if you’re going to buy a large bid pack make sure you plan on using all of them. Most sites refrain from offering refunds on bids purchased, so that’s something you should watch out for when signing up with them.

ZBiddy also has a Buy It Now feature like some of the other top penny auction websites, so make sure you take advantage of it. If you’re planning to purchase a new iPad anyway, then why not try bidding on it on their website. If you lose, you can always take advantage of the buy it now feature by putting your lost bids towards purchasing the iPad (or whatever products you’re after) at its retail cost. This is definitely a feature we always look for before signing up with a new auction website.

Something else we noticed on ZBiddy that you most likely won’t see on other penny auction sites is a Price Ceiling. That means they set a price ceiling before the auction begins, and when the auction reaches that price the last person who placed a bid will win. No one can raise the price further and no new bids are accepted. This is a cool feature that makes sure items don’t get outrageously expensive or that competition doesn’t go on for days at a time (not sure if that’s ever actually happened).

To claim a prize you’ve won with ZBiddy you have to pay the auction price within seven days, and you also have to pay the shipping and handling costs.

So, in conclusion, ZBiddy seems like a great auction site to use if you’re trying to bargain hunt for a good deal. Just make sure you keep the above mentioned points in mind when you sign up.

 

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BidRodeo Review – WARNING: Bid Rodeo Exposed!

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We wanted to warn our readers about another penny auction site we’ve heard about that hasn’t really worked well for us.  The name of the site is BidRodeo and from what people have told us, you should probably stay away from using this site. After hearing bad things about it, we decided to do some more research for ourselves and see if the complaints were real or just bad publicity.

After signing up to BidRodeo and buying a bid package, we found that the site lacked products. They didn’t have as much to bid on as other bid sites like BidSauce, Ziinga and BidRivals. They also had a ton of competition on the few items they did have to bid on. Things didn’t look good for them…

After trying to win a 5-10 auctions, we realized that it’s super hard to actually win anything with them. The competition is huge, and for the small amount of product selection they have, it’s not worth the trouble.

We can’t really speak on their customer service or their delivery times because we weren’t able to win ANY auctions before using up our first bid package. Once we used it up we gave up and called it quits.

We’re not going to say they’re a scam, because for all we know they could be a legitimate site. But from our initial tests we will say there are a bunch of much better penny auction sites you can use.

If you’re thinking about using BidRodeo we want you to exercise caution. In all honesty, you’ll be much better off if you use BidSauce, Ziinga, or BidRivals instead. These sites don’t have a bunch of competition and they have a much wider selection of products to choose from.  Make sure you use the coupon codes listed elsewhere in our other posts if you sign up to any of these auction sites.

Send your feedback to use on BidRodeo so that we can post it on our site. Our email address is in our about page

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BidCactus Review – Should You Sign Up With BidCactus?

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BidCactus has been around for quite a long time in the penny auctions arena. In fact, from our research, they’re listed as one of the largest penny auction sites in the world. However, this is never a guarantee that they’re the best site. From our review, it’s actually reasonable to say that they aren’t that good. Here’s why:

Since BidCactus is such a big site, there are so many more people on there trying to compete with you for products. We signed up and tested this out for ourselves, and lo and behold, it was nearly impossible for us to win any of the auctions we got into. We ended up using up 250+ bids and only getting one product – which pretty much meant we could have gone to the store and just bought it outright.

The next problem that we encountered with BidCactus is that the delivery times were slow. It took almost a month before we received the product we had won. Why wait a month for something that we could have received in one week with other sites?

A final problem that we had with BidCactus was that the people bidding on that site are crazy. Some of them  love throwing bids around for no reason. One guy kept bidding against us for a whole thirty minutes, until WE finally gave up.

The people that use BidCactus are more experienced and aren’t as easy to beat, either that, or they have deep pockets and use penny auction sites just for the thrill of it.

Nonetheless, one good thing we have to say about BidCactus is that they have great customer service. They’ll help you out if you give them a call and are there to answer any questions you have. That alone makes them better than 40% of the penny auction sites out there.

But in a nutshell, you should stay away from BidCactus if you actually want to get new products for a low price. Go in expecting to pay the same price as you would in a store. On the other hand, if you just like the thrill of penny auctions then go ahead and sign up with them, some of the people there will give you a run for your money (literally).

If you’re looking for penny auction sites where you stand a great chance of winning the newest products for dirt cheap prices then sign up with BidSauce , Ziinga or BidRivals. Check out our other posts for exclusive bonus codes for these sites.

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Swoopo Scam – Why You Should Stay Away From Swoopo!

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Unfortunately for Swoopo they’ve managed to get on our bad side in terms of being a penny auction site that has tons of negative reviews. It seems they’re just another site that doesn’t live up to the standards.

We did some research on them and found out that they have a streak of long delivery times, huge competition when it comes to placing bids, and horrid customer service.

If you’re up to the challenge of trying to win a product using Swoopo then I sure hope you’ve stocked up on bids. You can expect to use up 270+ bids just to win one product. Which means you’d be much better off choosing one of our top rated penny auction sites instead!

In the off chance that you do win something using Swoopo, you better be ready to wait for the product to be delivered. We’ve heard of delivery times as long as two months with them.

So, you should think twice before using Swoopo and opt for one of these sites instead. As always, make sure to get a larger bid pack when first starting out (250+ bids) if you want to have the best chance to win.

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Madbid Scam UK – Is MadBid.com All A Scam?! We Found Out!

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If you live in the United Kingdom, you’re probably familiar with a penny auction site called MadBid. In fact, they’re currently one of the largest penny auctions sites in the UK, but hopefully we’ll change that with this review…

Why’d we decide to review them?

We were getting a lot of emails from our readers in the United Kingdom asking us whether MadBid was a legitimate site that they could trust, or whether it was just a big scam. We did some research on forums and found out that there are a lot of complaints filed against this company. However, by nature we’re pretty investigative people and decided to check them out for ourselves.

One of our buddies lives in the United Kingdom so we asked him if he could sign up for MadBid, purchase 200+ bids, and then let us use his account. Of course, he obliged like he always does, especially when we mentioned that if we won any products they’d end up in his house.

We logged into the account and started searching for some products we thought he’d want (T.V.’s, iPad’s, Kindles, etc…). There was a large selection of products to choose from, so we found three to four auctions to watch and wait.

Once the first auctions timer counted down to 30 seconds left, we started placing our bids. But the competition was insane! We went back and forth in a bidding war with someone for a good thirty minutes. Unfortunately, we had to call it quits after we lost 70 bids on that one.

And it was pretty much the exact same story for the other two auctions we participated in. We just wasted a bunch of bids without winning anything. It seems like there are more advanced bidders on the Madbid.com platform. You can find way less competition with other sites.

We didn’t get a chance to test the delivery time or customer service of MadBid so we can’t comment on those things. But one thing’s for sure, it’s really tough to win anything on that penny auction site, and you’d definitely be better off using BidRivals instead.

Click Here To Sign Up With BidRivals For The UK It’s Better Than MadBid — > Bonus Code: great10

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Looking To Donate Money To Charity? Use This Penny Auction Website Instead!

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We always try to give back a little of the money we make to charity every month. There are millions of people out there who are living lives of desperation, and who can’t make ends meet. In line with our goals of helping people, we stumbled on a website called DoBidder that attempts to give back some of the profits made from penny auctions to the charity of the winner’s choice.

This is a great idea, and I’m surprised no one came up with it sooner (maybe they did, but we haven’t heard of them). Some of the auctions you participate in on DoBidder show that the profits go to charity, while others are just regular penny auctions. You get to decide which ones you’d like to participate in. Don’t for one second think that just because you’re participating in a charity penny auction, that the prizes offered aren’t as good as regular penny auction sites. In fact, DoBidder has some great products for you to bid on, whether you’re looking for health and beauty products, electronics, or gift cards.

It doesn’t stop there though, DoBidder also has a new form of penny auction that they’ve created called the KeyHole Auction. In a KeyHole auction, the price of the product is hidden. Once you click on the button to view the price of the product, you spend one bid. You then have 10 seconds to make up your mind and decide if you want to purchase the product at the price shown. Each and every time someone clicks the “View Price” button, the price of the product drops by 25 cents. This means that you never pay the full retail price of the product. This is one of the most innovative concepts we’ve ever heard of in terms of penny auctions. In fact, it might even catch on more than the regular penny auction model.

In terms of which charities you can choose to donate to, Do Bidder has a list of charities that range in the niche that they help. For instance, you can donate to an Arts & Humanities charity, a religious charity, or even an environmental charity (and there are all the usual ones like helping children in Africa or saving animals).

They also list their customer service and contact information on the bottom of their website, which is always a good sign. One thing we’d tell them to improve though is displaying how much each bid costs somewhere on their homepage. We weren’t able to find out how much the bid packs cost, and how much each bid would cost. Other than that though, it looks like DoBidder is one penny auction website that should definitely do well with consumers.

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Winning Big In A Penny Auction

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With the prices of everyday items increasing more and more each year, but wages remaining the same, everyone is looking for a deal on anything – necessities and luxuries.  That is what is making new penny auctions so popular.  A penny auction is one that occurs live, on an auction site.  The goal for bidders is to gain a really cool item for a very cheap price.  The problem, however, is that if bidders do not know the rules of these live auctions, the winners may end up spending more than the retail price for an item or the bidders may spend money and not win anything at all.

The way a penny auction works:

You may expect that these types of online auctions would work in a similar way to eBay, where the highest bidder at the end of the auction wins; however, they are actually much different.  First, items up for auction are posted by the website owner and not third party sellers.  Second, in order to place a bid, the bidder must pay a fee – for each bid – usually one dollar.  Typically, the price of the item is increased by one penny each time a bid placed, which is why they are called penny auctions.  The rules from here can vary from site to site.  Generally, the countdown timer for the end of the auction can fluctuate.  Sometimes the timer gets reset each time a bidder places a bid.  Other times, the timer resets randomly.  However, each auction site has a different way of doing this.  When the timer finally runs out, the last bidder wins the item, hopefully at a discounted rate.

For example, let’s say that an auction site has an iPhone listed for an online auction.  After all the bidders have placed their bids and the countdown timer has been reset numerous times, the winner is finally announced and won the item for just $11.  This may sound too good to be true, but let’s look at how much money the auction site actually makes from this single sale.  Since the winning price is $11, this means that 1,100 bids were placed.  Since each bid cost the bidders $1, the website just made $1,100 just from bids plus another $11 for the cost of the item.  Just for sake of example, let’s say this iPhone cost the website $300.  This means that the auction site just made $811 from this single live auction.

But let’s look at how much you paid for this iPhone.  You won the auction for $11, so you must pay this.  Plus, let’s say you placed twenty-five bids on the item.  This means that you paid just $36 for a brand new iPhone. Now that’s a deal.

The problem with these penny auction sites is that you will not always be the winner, no matter how many bids you place.  That makes the whole process a bit risky and also a bit addicting.  If you enjoy things like this, penny auctions may actually be a lot of fun for you.  One cool feature of these types of sites is that you can sometimes earn free bids.  Usually you can gain some free bids when you first register you account.  Additionally, the sites offer free bids as referral incentives as well as for ‘liking’ their website on Facebook.

The types of products listed are usually quite valuable.  Cell phones, iPads, televisions, videogames, jewelry and other expensive items are typical.  In addition, you will also see a large amount of gift cards to popular restaurants or stores up for auction.  Getting the winning bid on a $50 gift card for just $5 can be like winning free money. You can find more information on penny auctions here: Wikipedia Bidding Fee Auction

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