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

Simplybid.com is set to open June12th 2009, they are a British based company focusing on electronics. We would love to hear about your experiences at SimplyBid.com.

SimplyBids.net Review

(71 votes, average: 2.54 out of 5)
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Beezid Scam

Beezid a newcomer to the penny auction arena, has a very clean and inquisitive looking site. On November 13th, Beezid auctioned off a Toyota SUV for 26.56 to Howard, we anticipate on seeing the lucky bidder soon, as we are sure many people in the penny auction community are curious as to who was the successful bidder, Beezid has an up and coming mustang auction which we are sure will have all bidders glued to there screens. Beezid offers a european style bidding platform similar to Swoopo, Although they do not have as many items or bidders as Swoopo, they’re traffic rankings suggest that they do have a large volume of visitors, we will soon know the extent of the user experience at Beezid and will be able  to report back to you with those findings, All Members/Users are encouraged to share there experiences on http://www.beezid.com

Update 4/04/10:

For a newcomer to the realm of online penny auctions, Beezid has an impressive roster of prizes up for grabs on their site. In November last year, a certain bidder on Beezid going by the name of Howard won a brand new Toyota SUV, with the heated auction ending at $26.56.

Beezid is set to give away more impressive prizes like the new Apple iPad and a 2010 Ford Mustang GT. Other prizes on the site include the usual electronic items like HDTVs, iPods, mobile phones, gaming consoles, and more. With the variety of prizes Beezid has, it’s no wonder the site is one of the highest rated in the penny auction arena.

The website claims that their bidders get 60-100% off on some of their items – after doing some browsing on the site, we found that Beezid has kept this promise, at least for the smaller items. Competition for the fancier products like HDTVs is incredibly intense, with Beezid raking in around $7,000 for a television set that normally retails at $1,000.

The cons you might ask? Of the many complaints circulating around the web about Beezid, the most prevalent one would have to be the issue of winning bidders never getting their prizes delivered even after months of waiting. Another common complaint from bidders is that the site is said to have “bots” that bid against users in order for them to bid some more. This is a fairly common issue among other online penny auctions, but Beezid has been the subject of this issue on a number of forums and blogs.

As a way of showing new bidders that the site is legit, Beezid has a “Recent Winner” page that shows pictures of winning bidders with the items they’ve won. We’d prefer to have this page updated every now and then though to make it more convincing.

(7 votes, average: 2.71 out of 5)
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It seems as though interest for10cents.com has recently spiked, this could be due to a new advertising campaign or high customer retention due to alot winning by members, but as the saying gos what gos up must come down. The difference between this chart and the chart of other penny auctions we have seen is the sharp downward turn caused by members flocking away from the site, time will tell if members are truly happy at for10cents.com and if this truly is a good resource for penny auction bidders to get great deals

Update 4/26/10:
For10cents.com is part of the handful of websites that enjoy heavy user traffic. This is a good thing for the site, but not so much for the average bidder. If there’s one consistent complaint about for10cents.com, it’s that winning is hard. Whether the site is a haven for power bidders or one that pits bots against you is unknown (for now that is), but one thing’s for sure, the competition, real or not, is relentless.

The site however, does have some perks. Bids are cheap—the cheapest we’ve seen so far—and come in Bid Packs priced at $15 for 100 bids, $70 for 500 bids, $130 for 1000 bids, $550 for 5000 bids, and $1000 for 10,000 bids. But as many bidders have found out, it seems that for10cents.com knew beforehand that you would be using more bids in order to win their items.

Speaking of items, for10cents.com’s offerings don’t disappoint. The site has a wide array of auctioned items, ranging from the usual HDTVs, notebooks, gaming consoles, to more hard-to-find products such as luxury fashion items, watches, and many more.

If you do get lucky (and that’s a big if) and somehow win an auction, you’ll then have to deal with for10cents.com’s terrible shipping record. Numerous complaints from winning bidders circulate the web about the site, with one saying that he still hasn’t received an item he won after close to a month and a half.

Now if you’re new to online penny auctions, we’ll be blunt, look for an “easier” and more popular site than for10cents.com. If you think you’ve learned enough and know the tricks of the trade, then by all means, try this penny auction out.

Search Traffic

The percentage of site visits from search engines.

Now Dubli.com is set up alittle bit differently then other penny auction sites, in that the lowest unique bid wins. According to the site this is how bidding works

As soon as you have registered, you can buy various Credit packages

When you place a Credit, three things happen:

1. The actual price decreases by 25 cents
2. The current price will be displayed to you
3. You now have the possibility of purchasing the product for the price shown

Don’t hesitate for too long, or someone else may snatch up the item at a more favorable price.

ll auctions are presented for a limited time only. You can bid using any number of 25-cent increments (i.e. US$1, $1.25 , $2.50 etc.). The user who has placed the sole lowest bid acquires the item.

An example: Several bids have been placed for $0.25, $1.00, $1.75, $4.25 and $5.00. The amounts of $1.75 and $4.25 were not yet placed, whereas if you placed the last and only bid in the amount of $1.75, prior to the close of the auction, then it would be both the lowest and sole bid, and is therefore awarded the auction item. However, if another user also places a bid of $1.75 in the course of the auction, this amount is no longer unique. Now, in our example, the $4.25 bidder would be the final buyer, as their bid is now the lowest single bid placed.

It is possible to place single bids, or to cover an entire span of bids. However, in order to guarantee equal opportunity, only single bids will be accepted in the last five minutes before the end of an auction.  We will be testing this method of auctioning to determine if it can be bidded succesfully. Members and Users of Dubli we would like your comments and inside strategies to win on Dubli.

Update 4/26/10:

Unlike the traditional auction site, DuBli uses a system in which the lowest bidder wins the item up for grabs. DuBli calls their site a reverse auction portal, specializing in high-quality products from the world’s leading manufacturers of electronics, appliances, mobile phones, and many more.

Each credit is priced at 80 cents, and after you’ve chosen from the different credit packages, you can then proceed to pick which one of the three auction types on DuBli you’d like to try out.

The first type is Xpress, an auction where each click on the ‘show price’ button—similar to the ‘bid’ button on other sites—decreases the price of the item you’re bidding for. The actual price of the item drops by 25 cent increments, and if the price is just right for you, you can go ahead and buy it. The key here is timing – if you think too much for too long, somebody else might buy the auctioned item.

Next is Zero. Timing is also an important factor with this auction type, as the bidder who makes the final 25 cent bid wins the item. Once more, each click of the ‘show price’ button lowers the price by 25 cents, and if you’re lucky bidder who lowers the price from 25 cents to 0, then you win the auction.

Last but not least is Unique Bid. In this type of auction, the lowest unique bid wins the item. You can bid using any amount in 25 cent increments – for example 25 cents, 50, cents, 75 cents, $1.00 and so on and so forth. Now since the lowest unique bid wins the auction, lowest can practically pertain to any amount, as long as it’s unique. For example, if two or more bidders bid $1.75, then they immediately cancel each other out. The person who bids a higher amount on the other hand, has a better chance of winning, since most bidders would most likely conserve their bids by using them in small amounts.

While this business model may seem ingenious, remember that DuBli is pretty new here in the States, so you’re essentially trying out something that hasn’t been fully tested by many. Dubli however, is pretty popular in Europe, so we hope that spills over here.

Website: BidCactus

PAI Member Rating:

(13 votes, average: 3.08 out of 5)
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Bidcactus has carved out a niche for itself in the Penny Auction Arena as the leader in auctioning off gift cards for use at a wide variety of retailers around the country, it seems as though if your in the market to get a gift card at a great price bidcactus could be the site to get it, bidcactus also offers a european style auction platform which gives bidders plenty of time to bid on there items, There traffic chart seems to suggest, that bidders from time to time should be able to procure good deals on the days with the lowest traffic. Members/Users of BidCactus feel free to comment on our traffic theory on Bidcactus.

Update 4/16/10:

Unlike other online penny auction sites, bidcactus specializes in auctioning off gift cards that can be used with a wide variety of retail outlets in the country. Available on the site are gift cards from Home Depot, Macy’s, Applebee’s, Kohl’s, Target, and many more. If you’re looking for a way to do some bargain shopping at these establishments, bidcactus just might be for you.

Like most online penny auctions, bidcactus only auctions off brand new items. While retailer gift checks seem to be their specialty, the site also has other items up for grabs, such as home & kitchen appliances, mobile phones, laptop computers, HDTVs and many more. Bids on the site are priced at $0.75 each, $0.25 less than the bids on most penny auctions. Bidpacks are “sold” at 25, 50, 10, 250, and 500 in number.

Bidcactus’ rules stipulate that a bidder can only win a maximum of 3 items per month. We did some sniffing around and found that some bidders with the same usernames won more than 3 items. This issue has led some bidders to accuse bidcactus of using bots to raise the bidding price of some of their items. Shipping is also an issue with the site, as one bidder found out the hard way. Shipping for each of bidcactus’ auctioned gift cards costs $5. With this certain bidder winning a total of 8 gift cards, the site shipped them all in one envelope and charged $40, essentially keeping the $35 for themselves.

As with most online penny auctions, a lot of people have complained about spending hundreds of dollars just to bid on certain items and not win anything. This is understandable, since bidders sometimes come with the mindset of bidding non-stop in order to win. More often than not, you’ll only waste money that way.