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

Has penny auction site Wavee.com closed their doors? It certainly looks that way by visiting their website or looking at what other people are saying about the site. Wavee has been known to not ship items and not provide refunds to their customers. We believe legal consequences have finally caught up to them.

The Better Business Bureau gives Wavee an F, and reports 619 complaints within the last 12 months.  And according to CBSAtlanta.com, Wavee is being investigated by the Georgia Governors Office of Consumer Protection.

“Greg Feather said he has won several bids on wavee.com during the past two years, but he said the company never shipped 40 items and he hasn’t received a refund either.”

Here’s the message posted on their website:

We also found this comment left on an article from WalletPop.com:

If you have problems getting refunds from Wavee let us know!

(22 votes, average: 1.95 out of 5)
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Wavee.com has been around for quite some time, growing to become a penny auction that boasts of plenty of big-ticket prizes sure to tickle the fancy of even the most fickle of penny auction regulars. The site offers a wide variety of items, from high-end prizes such as gaming consoles, Apple products, HDTVs, to “easier to win” items such as gift cards and video games. Wavee usually has 30 live auctions, which is pretty impressive, given how most sites only have 6 to 10 ongoing auctions at any given time.

After registering, Wavee gives you 5 free credits (also known as bids) allowing you try out the site and see how it works. In addition, you can also invite friends to sign up, and each time a new friend registers, you get 5 credits. Credits are priced at $0.75, and from what we’ve observed, credits are sold individually and not in packs.

Wavee has some features that set it apart from its contemporaries. The site randomly gives free bonus credits to random members who bid in an auction, making it possible for bidders to win a prize. Wavee also has what it calls a “Mega-Win Meter” at the top of their page. The data shown on the meter is unique to every member, and the higher the meter, the bigger the chance for you to win big prizes, such as 1000 bids and more. The meter increases as you bid more.

Auctions on Wavee run pretty smoothly, however, the site’s “laggy” timers may throw off some people who are new to penny auctions. This issue is by no means unique to Wavee, but we would’ve preferred if they did something about this bug, given how they’ve been around for months now.

Another issue about Wavee we found concerning is their 4-wins-per-28-days policy. We noticed that a handful of bidders have won more than 4 times in the span of 2 to 3 weeks.

In spite of these minor problems, Wavee.com’s management team seems to respond to inquiries and feedback in a prompt manner. This is definitely a plus in our book.