Plundr Review – Why You Shouldn’t Use Plundr

Posted on September 1, 2010 by admin
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Another site that recently popped up for penny auctions is called Plundr. They claim to have great deals and good products, but realistically after we used them, we found that they didn’t live up to our expectations. The deals they had on their website for TV’s and other high tech items were very competitive, and we had a hard time winning anything.

We were able to win some extra bids, but those were pretty useless as we didn’t end up getting any real tangible products with them. Plundr is a penny auction site you should stay away from if you want to find discounts.

Our readers seem to agree with us on this, as a few of them have sent us emails saying how they didn’t get any products when they signed up for Plundr. They’ve also commented on the customer service and told us that it wasn’t that great, and that the shipping for the products they won took a long time.

Instead of using Plundr, you should read our review on DealFun, BidRivals, and GrabSwag, and use one of those sites instead.

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Wavee Review – Is Wavee A Good Penny Auction Site?

Posted on August 29, 2010 by admin
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Another penny auction site that our readers have been asking us to review is Wavee. From our initial tests it seems that this is a decent penny auction site to use, but it still doesn’t beat Bidsauce or Ziinga.

Using Wavee we were able to get several different gift cards for a good discount, but we found it hard to get any extremely good products like iPad’s or Macbook’s like they state in their advertising.

They delivered the gift cards in a little under two weeks, which is decent, but not great. When you compete for the higher value products on Wavee you should expect a lot of competition, but in terms of bidding on gift cards you should see a lot less competition.

Wavee also has pretty good customer service that’s on par with some of the better penny auction sites. One thing in particular we liked about their platform is that they have their “buy it now” buttons clearly displayed. The buy it now button allows you to use your bids towards getting the products at their retail value if you don’t win an auction.

Overall, if you’re mainly looking to win gift cards then you should test Wavee out, but you’ll still find much better deals by using BidSauce or Ziinga instead…

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Holiday Shopping With Pennies2Win

Posted on August 28, 2010 by admin
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With the holidays quickly approaching, we are suddenly shifting gears to the notion of holiday shopping. Since holiday shopping means that stores are packed and shoppers might actually fight over the last item left on the shelf, I prefer the quiet shopping atmosphere that I can experience from the comfort of my own home. You may like the excitement of fighting for a parking space or waiting in long checkout lines to get the coolest new gadgets, but not me. I get my holiday excitement fulfilled in a different way and that is by competing for a steal of a deal with online penny auctions.

Of course, I do this all year round when I plan to purchase something specific, just for the sake of entertainment and also to save some money of course. But when the holiday shopping season approaches, more and more competitors arrive on the most popular penny auction websites. This is usually when I start checking out other penny auction websites to see what they offer. This time I found Pennies2Win, a penny auction website that I had not yet heard about. Here is my quick assessment of this penny auction company.

To get started, you have to buy bid packages, which come in packs of 25, 50, 75, 100, 250, 500 and 750, with each bid costing $0.60 each. Before you can ever bid on any auction, you must purchase a bid package. When you do get to bid on an item, each bid will increase the auction price by a single penny and each time an individual bids on an item, the auction timer will increase by 15, 20 or 30 seconds. The winning bidder is the bidder who places the last bid when the timer reaches zero. The winning bidder is then responsible to pay for the entire purchase price plus shipping, which does not include the amount of money that was spent purchasing bids.

As an alternative option, most auctions on Pennies2Win have a “buy it now” feature which decreases the risk of participating in the auction. Bidders who lost have the option to purchase the item at full retail price, minus the amount of money spent on bidding. I find this option to be what makes penny auctions so fun. Since I intend to purchase the product I bid on regardless, if I lose the bid, I do not actually lose any money. I simply have to pay full retail price, which I would have done at a brick and mortar store anyway.

Sometimes I simply plan to give gift cards certain people on my list. Pennies2Win penny auctions are excellent for this too. Winning gift cards on this penny auction website are actually quite easy. Plus, if I lose, I simply have to pay retail price, minus the amount I spent purchasing bids. I would be paying this amount if I go to the store to purchase the gift card too. But this way, I get to have some fun and could actually win a gift card at 90% off its face value. The only thing you need to be aware of about Pennies2Win is that its buy it now feature has a slight caveat, which states that the minimum you can pay for a buy it now item is 30% of the full retail value, regardless of how many bids you used on that item. Bid carefully.

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A Quick Look At Happy Bid Day

Posted on August 22, 2010 by admin
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While pursuing the internet for some new penny auctions to try out over the weekend, I came across Happy Bid Day.  I thought the name of the website was quite inventive and with their smiley face icon, with a thumbs up, I decided I had to check out what they have to offer.  What I expected to see was the same old setup and design as all the rest of the online penny auction websites out there.  But I was actually surprised.  This penny auction stunned me with a different approach.

My investigation started out rather regularly.  In order to participate on Happy Bid Day, I needed to sign up for an account.  And of course, when I did this, I expected that I had to purchase some bids before I could start trying out their penny auctions.  However, I received a nice surprise.  Instead, I was given 50 free bids just for signing up.  And I could use these bids on specific “Happy Auctions” without spending a dime.  Of course, if I wanted to participate in one of the traditional penny auctions, I had to purchase a bid package first.

The Happy Auctions that the free bids can be used on are designed to give users a flavor for the site before they actually spend money on bidding.  And the free fifty bids do not stop after that initial sign up.  Throughout your entire usage of the website, you have ample opportunities to gain more free bids.  The best feature is that you can gain 25 free bids just for logging in each day.  On top of that, you can gain 30 free bids for inviting your friends to play.  Plus, you get 100 free bids on your birthday.  I have never come across a more confident penny auction website that offers so many free bid opportunities.

Beyond all these free bids that are available, Happy Bid Day, is pretty much setup like other penny auction sites aside from the fact that it doesn’t have a “buy it now” button.  In order to bid on standard auctions, you must purchase a bid package, which can range in size from 50 to 1000 bids, with bids costing between fifty and eighty cents.  The larger package you purchase, the cheaper each individual bid will be.  Each time a bid is placed on an item, the purchase price is increased by one penny and a few seconds is added to the countdown timer.    The website also features a tool that you can use if you have to be away when your auction is coming to an end.  This tool allows you to set bidding parameters and it will automate the bidding process to your specifications.

At the end of the auction, the winning bidder can purchase the item at the final price that the bidding reaches.  This is typically somewhere between 60% and 90% off of actual retail value.  My only disappointment with this penny auction site is that I could not find a ‘buy it now’ feature or any other feature that makes bidding a little less risky.  However, all those free bids are quite tempting.

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BidHere Review – Does BidHere Have Less Competition?

Posted on August 20, 2010 by admin
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We wanted to review a penny auction site that just recently started up in Canada called BidHere. Taking a quick look at their website, we found that a lot of the products they had up for live auctions were either watches, cameras, new phones or computers. That’s pretty good considering a lot of other sites only have gift cards selling on their live auctions…

So we decided to buy some bids and see how well we could do with this site. By the way, apparently BidHere caters to international countries, so you can use them if you live pretty much anywhere.

After using up our bids on this site, we can safely say that they offer quality products at low prices. You have to watch out though that you don’t get too caught up in a bidding war with other people. We’ve seen the prices for a single camera get up into the $500 range… which is extremely high for penny auctions.

When you’re using BidHere and participating in an auction that gets past the $50-$70 range, it’s probably a good time to back out and call it quits. These auctions can actually go really high in terms of price.

Using this site, it’s all about finding the right auction that other people aren’t aggressively bidding on. Overall, BidHere is a pretty good site to use, not as great as our top ones, but still good nonetheless.

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How to Get into the Penny Auction Mentality

Posted on August 16, 2010 by admin
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If you are thinking about participating in online penny auctions for the first time, there are a few things you need to keep in mind before you jump on the bidding train.  Penny auctions are unlike any other auction site you have ever participated in, so you will need to do some reading first.  Each penny auction site will have different rules that you will also need to keep in mind when deciding which company to use.  Each of them; however, will require you to sign up for their auction site with a username and password.  Most likely, you will need to provide a credit card number as well.

You will need to do this because you have to purchase bids in order to bid on items.  If you’ve done any research on penny auctions at all, you probably already know that some people win and a lot of people lose.  But in order to make sure you’re one of the winners, there are a few strategies that you need to employ before you start bidding.

To begin with, you should only participate in online penny auctions if you have money that you can afford losing.  If you can’t afford to lose it, the simple answer is to not risk it.  It’s really important that you realize what penny auctions really are.  Using them is a risk, just like when you gamble.  Having said that, if you have the money to risk, then why not utilize the full potential of penny auctions?

So if you’ve already determined that you have the disposable income to possibly lose when participating in penny auctions, it is time to determine what type of items you should bid on.  If you just want to have fun and money does not matter, then bid on whatever you want.  However, if you are like most of us and do not have an unlimited supply of disposable income, then you need to choose the items you bid on carefully.  Essentially, if you don’t intend to buy it anyway, then don’t bid on it.  My favorite time to use penny auctions is when I already plan to purchase an item anyway.  That way, if I’m not the winning bidder, I can still use the ‘buy now’ option that most penny auction websites offer and I do not lose any money.

The best way to think about penny auction websites is to imagine they are just like other retailers, except they are like hybrids.  You would not walk into a Target or a Wal-Mart and decide to purchase something that was not on your list or that you did not intend to buy in the first place. Likewise, you shouldn’t go to a penny auction site and bid on something you don’t actually need either.  Consider the penny auction website as a way to get something you already planned to purchase at the lowest price possible. In a sense, think about it like bargain shopping.  When you use penny auctions; however, sometimes you get the bargain and sometimes you don’t.

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Quibids Review – Why Quibids Is Still The #1 Penny Auction Site To Use

Posted on August 14, 2010 by admin
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In the years that we’ve been reviewing penny auction sites (actually it’s been one year to be exact) a lot of websites have come and gone. Some that we’ve put our faith in ended up being the wrong choice, others have been great and we’ve won some great products from them. One site that has continuously been the number one auction site to use is Quibids. Not only have they been around longer than we have, but they’ve withstood the grueling test of customer satisfaction. Despite what some may think, operating a penny auction site isn’t a walk in the park, and customers usually complain when something doesn’t go their way. Quibids has somehow avoided a lot of these problems by offering customers the chance to win amazing products at a super low price. Not only that, but they’re one of the first penny auction websites to introduce the “buy it now” feature where you can use your lost bids towards purchasing the product at its retail cost.

Quibids is a mainstay in the penny auction industry  for one very important reason… They make these auctions completely fair (no bots or employees bidding against you), and they deliver the goods ALL THE TIME. After using Quibids it’s clear that there’s a good reason they’re currently the biggest penny auction site on the Internet. While other sites only offer a handful of products with no variety, Quibids exceeds all expectations and provides a diverse amount of products for people to choose from. Whether you’re looking for a brand new iPad 2 or a KitchenAid coffee maker, they have almost every product imaginable for you to bid on.

When we signed up for Quibids we were given two free bids just for subscribing to their newsletter at the same time. While it may not seem like much, those two bids go a long way and allow you to outbid your competitors. If you’re still not familiar with the way these auctions work, here’s the lowdown:

After registering and signing up for the website you purchase a bid pack from them (you usually purchase a bidpack upon registration). The first bid pack you purchase is set at a fixed price, and each bid only costs you $0.60. This is actually a lower price than many of the new websites that have been popping up and charging people $0.70+ per bid. After you purchase your first bid pack with Quibids you can purchase more bid packs and you have five different price points to choose from. The first bid pack you purchase is in the sixty dollar range (with time this might change though).

The amount of bids you have shows up in the left hand area of your computer screen, and it’s continuously updating after each bid you place. All the products listed on their website start at $0.01 (yes, even the flat screen televisions) and each bid raises the price by one penny. Once the timer on the auctions gets to below 20 seconds left, each bid placed by any user raises the price of the item by one penny, and the timer gets reset back to 20 seconds left. If the auctions are going on too long Quibids will reset the timer to 15 seconds left, and finally 10 seconds left. As with all auctions, the last person to place a bid before the timer counts down to zero, wins the product at the price listed. They also have two cent auctions as well, so make sure to understand which auction you’re participating in beforehand.

You’re probably wondering why this is a better form of auction than the traditional auction sites you can use like eBay or AuctionZip. One main reason is that in a traditional auction you have pretty much no chance of winning a new iPad 2 at a price of $22.85, but on Quibids and other penny auction sites you can win a new iPad 2 at that price or even less than that. The way these auctions work is that you’re paying to participate in them (when you purchase bid packs), therefore, Quibids is able to secure high priced items at a huge discount. With regular auctions, you’re not paying for the chance to play, so when you place bids you’re not losing money. Those types of auctions are outdated and barely ever end up with someone snatching up an amazing deal. These new auctions allow people who want to take a risk and who can learn the ropes to snag amazing deals every single day!

Simply put, Quibids allows you to purchase products at a fraction of the price you’d pay in the store, sometimes even for pennies. Now there are some strategies you should understand before you  dive headfirst into the world of penny auctions. Make sure you only start bidding when there’s less than twenty seconds left on an auction, and have a set budget in mind before you place your bids.  Personally, we find it’s really helpful to only place bids on auctions for products you already want to purchase at their retail cost. This way, if you end up losing the auction, you can take advantage of the “buy it now” feature Quibids offers, and use the cost of your lost bids towards buying the product at its retail cost.

If you keep these things in mind when you sign up for Quibids you’ll be way ahead of the average penny auction bidder, and you’ll be able to get some seriously incredible products at a fraction of their real price.

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Online Auctions – Key Strategies That Will Help You Win

Posted on August 9, 2010 by admin
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Are you still looking for that perfect birthday or anniversary gift but can’t seem to find the right gift at the right price? Have you scoured the internet in order to find that new tablet or PC at the lowest price possible but aren’t able to find any deals within your price range? If this describes your situation, you definitely need to check out the world of online auctions. Depending on the auction site you use and if you find the right deal, you can save a ton of money on electronics, pottery, collectibles—anything you want. There are a few things you should know before using online auctions, though. Here’s some information that should help you win at online auctions.

How to Win at Online auctions
Some people think that the key to winning at an online auction is simply bidding more than anyone else. While this is technically true, you won’t save a lot of money that way. Winning at online auctions takes a lot more strategy than one might expect. Every auction site is a little different, too, so you have to learn specific strategies for winning depending on the site you are using. Here are some general tips to help you win at online auctions so you can get the most out of your money.

 

1. First, you’ll want to do some research on the product you are looking for. Get such information as how much similar items are currently going for at auction. This will give you an idea of how much to spend. You’ll also want to be aware if what you’re trying to buy is a collectible or not. If it is, know how much they run for so you can identify special deals when you have the opportunity.

2. After you find an item, make sure to check the history and rating of the seller, if possible. This will make sure you are able to purchase your item without having to worry if it’s a scam or not.

3. When you complete a transaction and have to leave feedback on a seller, make sure to be fair and give it some time before you just fire off a negative comment. Avoid accusing anyone of being a scammer unless you have serious problems with your order. Remember, feedback is permanent, so don’t ruin someone’s reputation because you’re having a bad day.

4. If you come across an auction that looks shady, make sure to email or contact the seller with any questions you may have before you place a bid. This will protect you from being scammed.

5. Additionally, make sure you find out any hidden costs from the auction before you bid on an item. You’ll want to calculate shipping, processing and any other fees before you actually commit to purchasing an item.

6. When you are purchasing an item, try to use a credit card. This way you have an additional layer of protection offered to you by the credit card company in case something goes wrong.

7. Always take time to read the description of an auction carefully. Sometimes tricky sellers will attempt to sell something of no value by carefully wording an auction (for example, you might see “Portable DVD Player LIST” for sale and think it’s a portable DVD player for under list price; it’s actually a list of places to buy portable DVD players).

There are many other strategies out there for winning an auction, and you can check out books, websites and forums which are dedicated to discussing specific techniques for winning.

Now that the basics of finding and winning online auctions have been covered, you need to choose which kind of auction site you want to purchase from. The most popular right now are eBay (and clone sites) and penny auction sites. Both are very different.

eBay
When talking about online auctions, it’s impossible to bring up eBay, the online auction king. When eBay launched onto the scene, the complete world of internet commerce changed. Instead of having to program and set up your own digital site (a much more difficult task back then than it is today), you could simply look around your house for things to sell on eBay. Since users don’t have to pay anything until they win an auction, it’s very friendly and accessible to use. People new to online auctions should probably start on eBay.

Penny auction sites
These hit the net just a little while ago, and they’ve rocketed in popularity since. The premise of a penny auction site is simple: every item starts at $0.01, and every time someone makes a bid, the cost of the item increased by a penny. There’s a catch, though: it costs money to make bids. Depending on the site, a bid may cost between $0.50 and $1.00. Most of the time, money spent on bids is lost when you lose an auction. These auctions have more risk, but they also have the potential for more reward (such as winning an iPad for $33).

There are more types of auctions, too, such as government surplus auctions, auction house clearings, gun auctions and other internet auctions where the price starts low.. Whatever type of auction site you use, online auctions from online auction sites can be a fun way to save money online. Follow these tips and get buying today to find great deals on the things you need to buy.

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BidUs Review – Is BidUs A Scam Too?!

Posted on August 5, 2010 by admin
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Here’s one more penny auction site to add to the list of sites you shouldn’t use. It’s called BidUs and caters to customers living in the United States. Someone left a comment on our site about how BidUs was a scam that used bots to place bids, so we decided to have a look into it ourselves.

After trying to win several different auctions on BidUs, we found that we would always get outbid at the very last second by what appeared to be a bot. We can’t be sure it was though, but the possibility is definitely there.

Either way, BidUs has turned out to be one of the lower quality penny auction sites on the internet, just because of how hard it is to win auctions.

You’re better off not taking the risk by using BidUs and opting for one of our Top Rated Penny Auction sites instead.

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How Penny Auctions Are Able To Offer Such Great Deals!

Posted on August 5, 2010 by admin
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I’m sure you’ve seen all of the advertisements for penny auctions, with high quality technological products being sold for only a fraction of the cost.  Of course, our natural reaction is to believe that these so-called deals are too good to be true.  Yet, they really are legitimate deals.  These auctions operate a little different from the usual ones where you just click the ‘buy now’ button and receive the product.  When it comes to participating in a penny auction, it usually takes a bit of work to get the savings that you’re looking for.  With savings that exceed over 90% off on items such as flat screen televisions, iPads, iPods, and other items, you may start to wonder how the penny auction companies are able to offer these deals to consumers.

To understand this, we need to look at the way these companies are setup.  To do that, we will compare penny auctions to typical auctions that you might see on other auction sites, such as eBay.  On eBay, you will find items that are listed by individual sellers; individuals just like you and I.  We can list our items that we would like to sell on eBay’s interface for just a small fee.  As individual sellers, we take care of customer service and shipping.  Essentially, eBay simply provides an easy to use medium to connect sellers with potential buyers.

However, penny auctions, such as those you will find on websites like Quibids and Beezid, work quite differently.  Items that you find on these penny auction websites are owned and listed solely by the penny auction company.  There are no individual sellers and the company itself takes care of all of the customer service and shipping.  Since these items are being offered by a single company, you might start wondering how they are able to sell their items so cheap and whether or not they actually make any money.

Well, penny auctions require bidders to purchase the right to bid.  This is different from websites like eBay, which allow bidders to place bids for free, only making them pay when they win an auction.  For penny auction items, many different bidders pay to bid on an item, and each bid only raises the price of the item by a penny.  In the end, only one person is the winner and that person is also responsible for paying the ending price of the item.  So if four people each place 100 bids on a gift card that is valued at $100, equating to a total of 400 bids placed on a single item, the penny auction company earns $240 from the sale of the bids (assuming bids cost $0.60 each).  Plus, the winning bidder must pays $4 for the price of the item.  Therefore, the $100 value gift card being auctioned off just earned the company $244 in revenue, but if you were the winner, you only paid $64 for it and the company profits by $144.

This might make you think penny auctions are making huge amounts of profit; however, their profits are actually a little smaller than suggested above.  This is because of their “buy now” feature which saves bidders from losing money.  If you were one of the losing bidders in the example above, you may first think you just lost the $60 you spent on bids.  But instead, you can simply use the buy now feature and pay $40 more to get the $100 gift card you wanted.  Of course, this means you don’t get any savings, but you also don’t lose any money either.  Let’s suppose that two of the three losing bidders decide to take advantage of this feature.  This means that the penny auction company ‘sells’ three $100 gift cards and receives a total of $320, making a profit of just $20 instead of the profit of $144 that would have been true if no one used the buy now feature. So this is how these websites are able to provide such big deals to consumers. They’ve created an auction model that is actually win-win for both parties in the equation.

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Penny Auctions Strategies – Do You Need Skill To Win?

Posted on August 3, 2010 by admin
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As with anything in life, you need to have some skill if you want to win new products through penny auctions. Some people want you to believe it’s all about luck, but that’s just not the case. The techniques you use and the strategies you employ have just as much to do with winning as luck does. Here are some basic strategies that you should be using if you want to win brand new products through these auctions:

Purchase A Large Bid Pack

The biggest problem I see with a lot of newbies to penny auction sites is that they end up buying a small bid pack of about 50 bids, try winning a couple of products and end up using all their bids without winning anything. Then they proceed to complain about penny auctions being a huge scam.

This is definitely the wrong way of going about things. When starting off with a new penny auction site, one of the best things you can do is to purchase over 200 bids. Why? Because most people don’t do this, they just buy a couple of bids and expect to win. If you have 200 bids you’re going to be able to demolish the competition when you need to, whereas, they’re going to have to back down because they ran out of bids…

Wait Until The Last Minute

Please, for the love of God, do not start bidding when there’s ten minutes left. When I see newbies make this mistake on penny auction sites, I cringe in horror. You need to wait until preferably there’s only 1 to 10 seconds left in the auction before placing bids. If you don’t want to wait until the very last second to bid, then at least wait until there’s only one minute left in the auction…

Scare The Competition

The whole idea behind penny auctions is to scare off your competition and make them back out of the auction. How do you do this? You make them think you really want that product. When you jump into an auction, come out with guns blazing at first and get a feel for your competitors. If you sense that they are going to keep fighting to the end, then quietly back away. Intimidation works…

Set A Budget

Set aside exactly how many bids you’re willing to spend on a product and try your best to stick to that number. I see people spending more bids on the product than its actual retail value and I laugh in disbelief. I guess that’s how penny auction sites make their money though.

If you stick to some of these strategies you’re chances of winning new products in penny auctions will skyrocket.

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XBids Review – Does XBids Really Work?!

Posted on August 1, 2010 by admin
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It’s been a couple of days since we’ve done a review on a new penny auction site, and I’m bored so I decided to test a different one out so that I could write this review. Some of our readers sent in emails about a penny auction site called Xbids, so of course, being the penny auctions addict that I am, I decided to do a quick review…

I signed up for a bid package from Xbids and started checking out their site. After I logged in I noticed quite a few auctions going on for Walmart Gift Cards and for bid packages, but only a couple for real products like the new Apple Macbook.

I hate participating in auctions for gift cards, but sometimes they can be lucrative and usually they have a lot less competition. I decided to try and win a couple of Walmart gift cards from Xbids, so I started bidding around the ten seconds left mark.

I would place my bid, the auction would get down to 1 second left and then boom, someone would bid against me. This happened over and over again until I used up a lot of bids and decided it wasn’t worth continuing in the auction anymore.

I moved on to the xbids auctions for products, and I had the exact same thing happen to me. It was ridiculous that I couldn’t win anything with all the bids I’d bought…

Something is definitely up with their bidding platform, and I’d recommend staying away for now… Do yourselves a favor and stick to the sites that we’ve rated as the best on this blog, don’t fall for the XBids marketing.

So there’s my quick review of XBids — to make a long story short, stay away from XBids for now and try out one of the penny auction sites we’ve rated as good instead.

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