Thursday, March 5, 2009

New Penny Auction Site

Have you heard about this crazy new auction site? It just launched a week ago and is already quickly becoming a favorite. The site is called Bid Ray Penny Auction.

The concept is pretty cool ~

Bidding starts at .01 with NO RESERVE!

Each bid placed only raises the price by one penny.

There is a timer on each auction, after each bid it goes up a little bit to give another bidder a chance to bid.

Since bidding is only in penny increments, there is a fee for each bid placed. Hurry and register now though, you can get 5 free bids ~ I did!

The bargains are crazy, check out the sold auctions that have already ended. I found $100 Best buy gift card for only .54, HP laptop for $4.35 & an Xbox for under $15!

This is the type of site you want to get in good with before everyone knows about them. That is when you get the best deals.

Oh and they also offer 100% free shipping and donate a large portion of the revenue to a charity of the auction winners choice. Pretty cool huh.

What do you think of this auction site? Have you joined & tried bidding yet?

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8 comments:

Anonymous said...

Yes I have. Bidray is just like all of the others, you may bid what seems like 1 cent, but you actually pay $1 per bid. The auction price rises by a penny with each one dollar bid. The site owners make out like bandits. That Xbox 360 that went for less than $15? The site actually pockets $1,500 ($1 per bid) for an item that costs them $299. Kind of a sweet deal for them, but for the non-winner(s) not so much as often times someone who hasn't been bidding a long time swoops in to "steal" the auction. The bids are NOT refundable, and they also have bidding by proxy (auto bids) and via text message. So it's a sort of a gamble more than a typical auction. I caution everyone to bid at your own risk, you have a LOT to lose at sites like these!!

Trust me, I am not a burned bidder. I have actually won a Playstation 3, an Xbox 360 (with one bid) a Blu-Ray disk player, 3 digital cameras and lots more before I started feeling bad for others and stopped this crazy practice.

BUZZINBOB said...

I am not here to hide who I am. I am the owner of buzzerbidz.com. I have read lots of comments saying that these penny auction sites are making money hand over fist. Let me tell you it is no walk in the park to get one of these sites up and running. These take countless hours to set up and run. We have to find suppliers, ship out items won, search for new items to list, answer e-mails, help people with accounts, Learn how to read scripts and the list go on and on. I don’t think that most people realize what goes into these auction websites. Read the example above from anonymous: If a person bids $15.00 on a $299 product and is the successful bidder the penny auction pockets $1,500. But, would if the product sells for 34 cents? Then the penny auction would make a whopping $34 losing $265. And take into consideration that buzzerbidz give bonus picks at the end of each auction to the successful bidder to receive additional bids and no one counts the free bids that were placed on certain items. This also takes away from profit. These auction’s are a lot of work to run and it is like any other business. (to make a profit) Take your average fast food burger joint. Do you really think that it cost $1.20 for them to make a large soft drink? Think again! It only costs about 5 cents netting them $1.15 per soft drink. If they sold 500 of them a day, they would make $209,875.00 per year! And thats just on soft drinks. Granted some people will not always win, but if you are lucky enough to be successful even if you put in $12.00 on bids and won a playstation for $15.00 it would cost you $28.00 for a brand new playstation valued at $350.00. We all have been at a carnival and tried to knock the bottles down to win a prize. Some of us won a huge stuffed teddy bear and some of us won a plastic spider ring. Some spent a $1.00 to win the bear and some spent $20.00 to win the ring. We as humans love entertainment and this is what buzzerbidz is all about. Meeting new friends while obtaining heart pounding excitement while shopping for things you want. I am just tiered of hearing all of the negative comments about these penny auctions. If you like them, then play. If you don’t then don’t play. It’s that simple! I just felt that I had to throw in my 2 cents worth! ( no pun intended)

President Of Buzzer Bidz Inc.

Anonymous said...

I have some experience with these sites. A lot of them(if not all) have their own accounts with which they bid up the price therefore guaranteeing a profit on almost all the items. I say almost all because even casinos have to lose sometimes to give people hope. So can you get a great deal on items? Sure, but you have to be very smart about it. Unfortunately for the rest of us, just like casinos, the house always wins!

Anonymous said...

@BUZZINBOB you're delusional. Penny Auctions are at a best a clever approach to disguise a gaming site as an auction site. Unsuspecting customers find out the hard way.

Penny Auction scripts have built-in autobidding so you won't be selling items for 34 cents ;) Or maybe you de-activated it and went of business already.

Tim Decker said...

Penny auction sites - deal or scam

I recently wrote my opinion in the article above. Check it out.

Anonymous said...

After doing a little research at pennyauctionwatch.com, I've read up on these sites and played myself. It's true that many of these sites do have autobidding by bots, but there are some up and coming sites that have been supposedly ''proven'' to not have such bots.

The two that I have won on and received items are dibzees.com and auctionsquirrel.com.

I have also won on bidcactus.com but that was when they were new, they are huge now and impossible to win on.

As long as you learn the strategies these sites can be quite fun. But do not think you will win something huge for 50 cents .... ten dollars maybe ;)

KE said...

There are soooo many penny auctions out there. I've struggled to find the best ones. I thought this comparison chart may help if anyone is looking for others to try:
http://tomuse.com/penny-auctions-entertainment-sites-review-compare

Has anyone tried BigDeal? I've used Swoopo in the past with some success but not much. Great post. Thanks for sharing!

KE said...

There are soooo many penny auctions out there. I've struggled to find the best one but I found this comparison chart helpful:
http://tomuse.com/penny-auctions-entertainment-sites-review-compare

Has anyone tried BigDeal? I was considering them but wanted to see what everyone else thought compared to Swoopo.

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