Penny Auction REVIEWS – Which Penny Auctions are the BEST Bargains?

Its official Penny Auctions have been deemed exactly that an auction, not a house of gambling as some would say. According to the UK Gambling Commission “We do not consider such sites amount to the provision of facilities for gambling under the Gambling Act 2005.” So there we have it straight from the UK Gambling Commission, Penny Auctions are not a form of gambling, they are a different form of a traditional auction. People who have little or no experience in the auction world or who have just participated in a penny auction and have not been successful may not understand the most basic principle of any penny auction, there can only be one final bidder.

UK Gambling Commission

Madbid a penny auction based in the United Kingdom has auctioned off many items, there search traffic pattern seems to indicate that the site was trending down quite possibly due to a number of factors but it seems poised for a possible rebound,  American bidders should familiarize themselves with Madbids terms of service before bidding on the items on Madbid due to shipping limitations.  Our bidding partners on the other side of the pond seem to be happy with Madbid and if they actually do ship to the United States we could possibly have another resource for cheap items here in the United States.

Like most things about Europe, there’s something glitzy about UK-based penny auction site MadBid. Maybe it’s the website’s look, or maybe it’s just the items they have up for auction – does an Audi A3 Sportback sound sexy enough for you?

If you’re from the US however, you’ll have to sit this one out, as MadBid is exclusive only to UK residents. Depending on how the site does, that might change in the future.

MadBid has a handful of unique features that’s sure to appeal to many penny auction bidders. Smart phone users have an advantage of sorts when it comes to this site, since bidders can actually vie for an auctioned item via SMS, with each text message costing £1.50, as opposed to the £1 cost of each bid purchased online. But before you dismiss this feature and go for the online route instead, note that SMS bidding comes with its own set of perks.

Since MadBid requires that you purchase bid packages when bidding online, SMS bidding actually saves you more money since it allows you to spend on individual bids – perfect for those who want to test the platform and try their luck without shelling out that much cash. SMS bidding is also ideal for individuals without debit or credit cards.

Up for grabs on the site are items such as notebooks, Apple products such as iPods and iMacs, HDTVs, DSLR cameras, cash, and the occasional mother of all prizes, a brand new car (as of the writing of this article, MadBid is auctioning off an  Audi A3 Sportback.

MadBid seems to be well regarded by folks from across the pond; it’s a shame that they don’t cater to US customers looking for bargains and the like. The site even has a page containing instructions on how to bid responsibly – something that’s pretty thoughtful, considering how most sites just want your money.

Along with Swoopo and Doobids, MadBid draws in the most number of users in the United Kingdom.

In the world of Penny Auctions just about anything can happen, from big screen TV’s being sold for pennies on the dollar to brand new cars being auctioned off for a meager $5.00 dollars. Most people would say that it sounds to good to be true, but you do need to know the rules of the road before you decide to jump in.

Jonathan Mason from Frankenmuth, Michigan was the final bidder for a brand new Chevrolet Camaro valued at almost 40k, most readers would be shocked at how much he actually paid for it, a meager: $5.28. Mason an avid Penny Auction bidder decided to take a shot at fastpennycars, and that shot really paid off.

Under intense pressure Bidtrotter.com was forced to close it doors due to the lack of there ability to adapt to the ever changing Penny Auction Landscape. Many members of the site reported problems with the customer service department as well as deficiencies with receiving items. Bidtrotter.com will not be missed as there are many Penny Auctions ready to take there place. The Penny Auction Industry is evolving and those sites who are not following the trends will fall by the way side and become obsolete. We encourage all members of Bidtrotter.com to contact our auction hotline if they are having any problems in collecting there won auctions or need advice on how to proceed in collecting a refund.

Penny Auctions may have been around for a few years, but lately it seems more and more people are catching on. Discussion across the internet has been growing rapidly, with Google now reporting 742,000 results for the search term “penny auctions”. MSNBC.com, one of the top visited news websites, even featured an article about penny auctions today on their home page.

The article, An iPad for $2.82, or illegal gambling? , explains how penny auctions work, and discusses whether penny auctions should be considered gambling or not. Of course this argument is not new, and we’ve been hearing about it ever since penny auctions started getting attention. What’s interesting though is the national media coverage of the penny auction industry. How is this increasing amount of attention going to affect penny auctions?

It could mean many different things for us bidders. For one, the increased attention will bring in more people that want to give penny auctions a try. Yes, this will mean more competition, but this isn’t necessarily a bad thing.

We all know (at least we hope you know) that penny auctions don’t rely on chance. There’s a lot of strategy involved, and statistically the more experience bidders usually win more often than the newbies. With tons of new players flowing into PA sites, the competition among experienced bidders will be dispersed. And of course, it’s easier to win against a first-timer than a power bidder.

More bidders also mean more revenue for PA sites, and more revenue can translate into more valuable and wider prize selections.

So we’re excited to see the increased attention in our industry, and are looking forward to the changes that may come with it. What do you think?

Penny Auctions are getting a lot of attention around the internet- either people love them or they hate them. Most people love the fact that you can get high-ticket items such as HDTV’s and laptop computers for pennies on the dollar. But there are also countless complaints being made about the legitimacy of these websites. If you’re going to give penny auctions a try, be sure to avoid these 3 common nightmares.

Unauthorized Charges to Your Credit Card

As many people have learned, there are a lot of penny auction sites that charge fees to new users without their permission. There are a few sites that have been known to do this, with the number one being SwipeBids.com. Many users of SwipeBids have claimed that $150 was charged to their credit card after they signed up for the “free” trial.

Although there are many PA sites that charge un-authorized fees to users’ credit cards, there are just as many if not more legitimate sites on the web. Before signing up to any PA site, make sure you check out the reviews and user ratings. This one simple tip can save you hundreds of dollars and keep you from being scammed.

PA Sites Using Bots

One of the most common complaints made about penny auction sites is the use of bots. Bots, also known as auto-bidders, are used by some PA sites to drive up the auction price. They are fake users created by the site to bid for items. This is extremely unfair, because people expect to bid against real people when they sign up for a PA site.

There are a few ways to watch out for this. First, check out reviews of PA sites before joining any. Next, take a look at the main page of the PA site you’re considering joining. Most sites will list the current bidder next to the auction timer. If you see a name come up only once, it should be considered suspicious. Most human bidders will bid at least a few times before giving up.

Spending Lots of Money Without Winning

Unfortunately, far too many people buy bids on a PA site, and use all their bids without winning anything. This is usually due to the bidder not using any type of strategy. Penny auctions are not like gambling, it’s not up to chance.

Using even the simplest strategy will set you apart from most other bidders on a PA site. Instead of bidding on the first item you see that you want, take some time to watch the auctions and get a feel for the average ending auction price. When you know this average, you can enter into auctions when they get near this price. Also, enter auctions when there’s only a few seconds left on the timer.

Avoid these three common penny auction nightmares by following these tips. Don’t become another person filing complaints across the internet because you got ripped off. Always read reviews before signing up on a PA site.

Website: PennyPrizes
Marie Smit
778 E Balboa Ter
Bartlett, Illinois 60103
United States

Domain Registered: July 2010


Auction Type: Penny Auction
PAI Member Rating:

(11 votes, average: 2.55 out of 5)
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Comment your feedback here!

Website: TixFrenzy
Lilja-Wagener Enterprises, LLC
220 Forestview dr.
Lake Bluff, Illinois 60044
United States

Domain Registered: June 2010


Auction Type: Penny Auction
PAI Member Rating:

(4 votes, average: 2.00 out of 5)
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TixFrenzy.com is the first penny auction site dedicated to reselling event tickets. Since launching on December 16th, 2010, TixFrenzy has sold airline gift cards, tickets to hockey, basketbowl, UFC, the Blue Man Group and TicketMaster.com gift cards.

Comment your feedback here!

Winning penny auctions can seem nearly impossible to new bidders. But just like anything else, winning is a skill that can be learned. The top winners at PA sites are usually the most experienced, and while we can’t actually give you experience, we can give you the top 10 tips to gain an edge over other bidders, and gain the experience you need to become a top power bidder.

If the PA site you choose gives you free bids, save them! It’s unlikely you’ll win with only a couple bids, and those free bids can come in handy later when you have more to play with.
Bid when there’s less than a minute left on the auction. Many people bid for items as soon as they see something they want, but this “strategy” almost never works. To win penny auctions, you need to be the last bidder, so wait until the auction is almost over before placing your bids.
Stay away from high-ticket items such as laptops and high definition televisions until you have more experience. More people bid for these items, which means you’ll have more competition bidding against you. Start out with the less valuable items and work your way up.
• Play during the right time. For most penny auction websites, the best time to play is early in the morning. The worst times to play are late afternoon and night, since most people play during these times.
• Set a spending limit on each item before bidding. Once you find an item you want to bid on, determine how many bids you’ll place before giving up and moving on.
• Stick with one item. To use your bids most effectively, don’t spread them out and bid on multiple items. Once you find something you want to win, focus on that one item until you either win, or reach your spending limit for that item.
• Watch how many different people are bidding on the item. Every penny auction shows who’s the latest bidder. When you’re bidding in an auction, keep track of how many different names you see. That will give you an idea of how much competition you’re up against.
• Don’t expect to win by placing only one bid. To win penny auctions, you have to be willing to bid multiple times on the items you want. Always stick to your spending limit, but make sure your limit is reasonable.
• Reserve enough time for bidding. If you enter an auction when you only have 10 minutes to sit at your computer, you’ll probably be wasting your bids. Penny auctions can go on for hours, so make sure you have enough time available before bidding.
• Win and develop your own strategy! Winning at penny auctions takes skills, which come from experience. Start out bidding on smaller items, work your way up, and you’ll develop a personal strategy and have a huge advantage over others.

Good luck!

“Tis the season to be jolly“, and apparently in the penny auction industry its a jolly season for penny auction bidding as well. With cold weather reports coming in from all over the county, coupled with above average winter snow predictions for this coming winter, people now more than ever are searching for new and fun ways to pass their time indoors. Since the rise of the personal computer people have always passed their time playing video games such as solitare, but now since the advent of online gaming, internet use has spiked to all time highs.
For the last few years it has become very apparent that internet auctions are a popular past time. Due to the fact that you can get a bargain on great items, Online auctions have become something of a diamond in the rough if you play your bids right. It is no wonder that penny auction sales have increased with the start of cold weather. With the holidays just around the corner, home shopping seems to be gaining ground when it comes to getting what you need without the hassle of waiting in line and fighting through the crowded stores.
Is it snowing outside?, well look into trying online penny auctions as a great way to have fun and do your holiday shopping all at once, from gift cards, HD TV’s, Computers, and so much more for a considerable less amount then you would pay in a retail store. To the smart consumer this should be an opportunity that no one should pass up.
No need to fight traffic and risk driving in the snow and cold weather when you can simply make a hot chocolate and cozy up to the warmth of a fireplace and just point and click.

This winter is already expected to be a bad one this year, with snow flurries predicted in the 2010 farmer’s almanac seen here 2010 Farmer’s Almanac .
It will be a perfect season to stay indoors and try new and entertaining ways to spend your time.
Always be sure to do your homework when it comes to picking the perfect penny auction site. If you have any doubt about which sites are the best you should always check with the websites testimonial page. Doing these simple steps will go a long way in insuring that your online bidding experience goes well. Remember to always spend within your means, and never go into a online auction without first knowing a bit about the site, and it’s software.
With that acknowledged and winter almost here, penny auctions are proving to be a great way to wait out old man winter. Holiday gifts can be easier than ever to collect, if you play your cards right and know which auction exactly to go to.