CONSUMER NEWS REPORTER


Online Penny Auctions

 

"New online auctions that offer incredible deals and merchandise for only pennies."


Times Are Tough And Every Penny Counts

As part of a new series: "Online Trends: A look at alternate shopping and penny auction websites on the internet.


Pamela investigates the Online Penny Auction to find out for herself if this really is a great deal.

Times are tough and every penny counts. Some people are taking that idea to a new level through auction sites where pennies could get you a camera, a laptop of even a new iPhone4.

If you are willing to wait for a great deal, penny auctions are a great solution to saving a few bucks. There's an online penny auction based in the metro that's growing by the day where you can bid on everything from gift cards to MacBooks.

The Florida company BidSauce.com started just a few months ago and it's gaining popularity.

Think of it as an online auction but you're bidding by the penny. And even though each bid costs 49 cents, you can still grab a good bargain because it can save you from paying the full value of an item.

"My best deal was MacBook Pro for $19.62, took three hours to get through, but definitely worth it," said penny auction user Joseph Bruschie.

Another customer purchased a $300 digital camera for only $50.

But we here at Consumer Info Weekly are a little skeptical and aren't sure that we've seen any real proof that these online penny auctions are such a great deal. So we decided to put these websites to the test. What better way to find out the truth than to conduct our own study?

To get started, I have been using normal online auctions regularly for the past 6 years so I volunteered to be the guinea pig. I created an account a BidSauce.  While there are a few penny auction websites online, BidSauce is one of the most credible and trustworthy websites in the marketplace. They gave me free bids just for joining and did not try to fool me into agreeing to additional hidden offers, purchases, or fees. Another reason why I chose BidSauce is because it is the most practical and easy to use website I found.


Here is what Bidsauce claimed on their website...
  • All Auctions Start at 1 Penny
  • Each time you bid the item price increases
  • The last person to make a bid wins the auction
  • When a bid is placed, the timer increases
  • If you don't win the auction, you can buy the item at full price and redeem your bids placed for full credit.

We were pretty skeptical, but wanted to find out for ourselves if this website could actually work the way it claimed and if we really could get a great deal.

Putting BidSauce to the Test

The Bidsauce Signup was quick and painless and took me literally 10 seconds.

In order to give myself the best chance of winning, I opted to buy their 250 bids package for $200

My Test - Try to win any auction on the site no matter the cost:

My Results

Day One

The first day I decided to go after one of the items which I thought would not only be a little easier to win, but useful as well.

A 100 Bid Voucher.

If you win, you get 100 extra bids added on to your account - great, I could use that to continue my test.

I waited for the timer to reach down to the 5 second mark and placed a bid. 10 seconds later another user bid above me. I placed a bid order for the next 10 bids, which seemed to go by pretty quickly. Okay - 11 bids down.

I decided to let a few other bidders battle it out for awhile until the price got up to $1. That's when I set my bid order for 50 bids.

About 20 bids down the road the other bidders gave up and I won! Great, 100 bids won by only using around 30 of my bids - what a deal.

Day Two

Today I decided I would go for something a little more active as far as bidders. An iPod Shuffle.

Again I went in with the idea of spending as many bids as I needed to in order to win the auction. And if I didn't win, then I would simply exercise my Buy One Now option.

This time I waited for the price to reach above $1 and also waited for bidding activity to slow to a crawl.. I put in a couple bid snipers, and when they started firing I knew that it was time to jump in. I set my bid order to 100 bids and sat back to watch.

72 Bids later - I was the winner of a new green iPod shuffle. That means that I got a $55 product for only $36 - sounds like a great deal to me.

Day Three

Now I was getting really bold. Today it was time to bid on something even bigger - I had my eye on a new iPod Touch.

This time I waited until the price reached $2, then started placing a few bids to test the waters. There still seemed to be a lot of activity, so I set my bid snipers and waited. Eventually it reached $3, and the bidding was starting to slow. I jumped in and set my bid order at 100 bids.

Another user apparently had the same idea and we got into what is called a 'bid order war'. This is where the timer moves quicker because the bid orders are bidding against each other. Normally the timer increases 10 seconds with each bid, but in an order war it only increases 1 second per bid.

Needless to say the 100 bids went pretty quickly. I placed another 100 bid order, then another 50 bid order after that. After getting to that point and still not winning, I decided that my best option was to use the Buy One Now.

So in the end I ended up getting a product worth $184 by spending $184 - not a super deal, but I certainly didn't lose anything.

Day Four

Today I decided to purchase a 500 bid pack for $375. This was mainly because there was a new iMac on the website worth $1800 that would look great sitting on my desk. So to start off, I had about 575 bids to work with.

Once the counter reached down to 5 seconds it was like a feeding frenzy, people were bidding like crazy - sometimes it seemed that 10 bids where hitting at exactly the same time. Definately not the time for me to start bidding - so I waited.

The price quickly got to $10, and the bidding slowed down a bit but not by much. I set my bid sniper in case I snoozed too long while I was watching the auction and missed out.

The price got to $20, then $30, then $40. That's where the bids started to slow down and I decided it was time for me to jump in. I set a 100 bid order and watched it go, then another, and another. 300 bids down.

I played normal bidding and bid snipers for awhile - the price reached $50. I put in two more 50 bid orders.. 400 bids down.

Then 425, 450, 500, 540... WIN!

I had to do a double take - I couldn't believe I actually won an iMac at a final auction price of $67 + shipping, plus about $400 worth of bids. So for an $1800 iMac, I only had to spend $500. Now if that isn't a steal, I don't know what is!

I couldn't be any happier with the results.
I spent at total of $700 and received products valued at over $2000, plus I still have 75 bids left over.

Conclusion Like us, here at Consumer Info Weekly, you might be a little doubtful about getting a good deal from a site which may seem too good to be true. After conducting our own personal study we are pleased to see that people really are getting great deals if they stick to their guns and bid to win (myself included :) )!There are some penny auction sites out there that aren't as good to use. Your best bet is to stick with an industry certified site like BidSauce.

Good Luck with your auction bidding,

Pamela Miller

Click here to try out BidSauce for yourself

Would you like to share a consumer tip for next week? If so, please send us an email. Pamela@ConsumerInfoWeekly.com

 

Tech writer, Pamela Miller of the Consumer Info Weekly team recently put the BidSauce website to the test. She spent four days testing if the site can really provide a great deal. And, the results were surprising

She won $2000 worth of items and only spent $700 for a savings of $1300

The results of our auction tests beat all of our initial skepticism. We found that if a bidder stuck to their goal of winning an auction and didn't just place casual bids, then getting a great deal on a product was attainable.

Step 1:

First Sign Up For BidSauce


Step 2:

Purchase a bid pack, for best results by the larger bid packs, 200+ bids. Follow a regimen of bid until you win. If you don't win, then simply use the Buy One Now option to get it at the normal price.

Hurry and sign up before more people find out about these deals! 

Weather

Comments (18 out of 173)

Read Responses For: "Tech News: Times are tough and every penny counts." - Abbie Pollard Report
Diane says:9:50 AM
Just saw this. Thank you for sharing this tip! I just signed up and love the site! Im so excited to win something!.
Marco says:6:33 PM
I saw you on this report, and the timing of this couldn't be better. I was just getting ready to sign up on another penny auction site which didn't work as well
Mikey says:8:54 PM
Thanks for the info, just joined and im loving it.
Stephen says:2:24 PM
WOW, I cant believe I haven't tried this site until now! I cant wait to try to get my own iMac at a deal!
Cathy says:3:16 PM
OMG! This has GOT TO BE the coolest thing I've seen!
Davis says:6:05 PM
This is amazing! You really cant beat the free bids either!
Damo says:09:15 AM
Im gonna try this site out asap!
Thomas says:3:38 PM
Hey Pamela, i just signed up and added you to my Twitter! thanks again, Amy xoxoxo
Wanda says:11:45 AM
I cant believe I'm just hearing about this. I'm definitely going to sign up.
jon says:11:48 AM
So I can get an iMac for $400? sweet!
Steve says:11:58 AM
I've tried these sites before with some sucess. I'll give BidSauce a try.
Mason says:12:02 PM
I've been using this site for a while and have to say it rocks! I've won like 10 items so far!
A.C. says:12:08 PM
Not only can you save money, but it's fun to bid too!
Sam says:12:13 PM
Ya i agree! I've saved so much money using this site!
Tiffany says:12:28 PM
Its a really awesome site!
Kathryn says:12:31 PM
I lost some and won some - definately takes determination.
Ricky says:12:34 PM
Ya! I won something with my free 10 bids!
Spencer says:12:39 PM
When do they auction their next iMac?
Donny says:12:43 PM
This site is pretty awesome. I have to admit I was skeptical, but after being a member for awhile I think it is AMAZING! Wow! .
Renee says:12:48 PM
I thought it was a scam until I actually won something! lol
Johanna says:12:49 PM
I'm ready to try it. Thanks for the info!
Scotty says:12:52 PM
Thanks for the code for the free bids!
Thomas says:12:54 PM
Aaah, I just bought an iMac at full price! doh!

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