Another Cash Penny Auction

by auctionwatcher on February 8, 2010

100 dollar bill

“No matter what the stage of the bidding, the second-highest bidder can improve his position by almost a dollar by barely topping the current high bid. Yet the predicament of the second-highest bidder gets worse and worse! This peculiar game leads to a bad case of buyer’s remorse. The highest bidder pays far more than a dollar for a dollar, and the second-highest bidder pays far more than a dollar for nothing.”-William Poundstone, Prisoner’s Dilemma, Doubleday, NY 1992, pp. 280-282..

Bids cost $1 each on BidonCash.com, it’s another penny auction site that strictly auctions off cash, well PayPal cash that is.

I wonder if Martin Shubik ever thought there would be such a thing online…

“The Grand Opening of BidOnCash is finally here. No cameras, phones, or DVDs here… just cold, hard cash, from $50 all the way to $10,000.

No slow, lost or damaged shipments either… your cash will be in your account within 12 hours, ready for immediate withdrawal by PayPal or NETeller, or one of our other convenient withdrawal options.

BidOnCash is managed by professionals with many years of experience in various online and entertainment businesses, with First-Class customer support available 24/7.

Cash is King, and so are you, at BidOnCash.com. Registration is free and easy, so sign up and get your free bid, it might be your lucky day!

Steve Morrow

Customer Support Supervisor”

Is BidonCash.com almost like an online casino? What do you think? Discuss in our forum.

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Introducing the Penny Auction Watch Seal of Approval Program

by auctionwatcher on February 7, 2010

penny auction watch seal of approvalPenny auction sites are opening and closing all the time, the dozens of daily requests for penny auction software, and the 65+ penny auction sites that went out of business in 2009 alone is testimony to this.

The dozens of unethical penny auction site owners that are employing automated-bot bidders, manually shill bidding, not fulfilling items and blackmailing users has to stop. The many software developers that are providing e-entrepreneurs with automated bot scripts have to stop.

Penny Auction Watch is Setting the Standard for the Penny Auction Industry

We’re calling for all penny auction sites to get legit and stay legit.

The PAW Seal of Approval program will identify and reward penny auction sites that provide their users with exemplary customer service, authentic items and real bidders.

Start looking for the gold and maroon PAW Seal of Approval as proof that you are participating in a Penny Auction Watch approved penny auction site; penny auctions where real users are being viewed as valued customers.

We suggest that sites start applying now to get approved. E-mail approval [at] pennyauctionwatch [dot] com for more details.

  • Not all penny auction sites are good enough to earn the Seal of Approval distinction
  • The PAW Seal of Approval will be administered free of charge

The Seal of Approval program was designed to help penny auction bidders make choices about the growing number of penny auction websites as they consider which site to register and purchase bids on. The program was also designed to advance PAW’s mission to honor and support legitimate penny auction sites, as well as to help minimize the dishonest ones.

Standards of Practice That Must be Adhered to in Order to Receive the PAW Seal of Approval:

1. Terms & Conditions of Service must be posted and displayed on the website.

2. All policies must be stated simply and clearly.

3. Ease of Contact: Customer service contact information must be clearly displayed. Hours of customer service should be posted.

4. Quality of Customer Service: Phone calls and e-mails should be answered in a timely manner.

5. Functional website with infrequent bugs in software.

6. Items are verifiably received.

7. There must be no hidden reserves.

  • Scripts containing “autobots” is never permissible on a live penny auction site.
  • Shill bidding is not allowed.

The penny auction site must attest that they do not and will not employ automated bidding bots or shill bidding under any circumstance.

8. Does not advertise falsely or mislead users: Does not proclaim that users can actually win items for pennies. (For example: advertising that a user won an item for only $0.93 when in actuality they spent $57 in bids, in addition to the final end price + shipping costs.)

9. Always acts professionally, always.

Sites breaching our standards for approval will be immediately disqualified from the PAW Seal of Approval Program. The PAW Seal of Approval will be hosted on PennyAuctionWatch.com so that users can verify that the site is actually approved by us.

We hope that this contributes to the betterment of the penny auction industry.

Thank You!

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BidCactus is Flourishing

by auctionwatcher on February 5, 2010

bidcactus.com penny auction logoBidCactus has offered over 56,000 auctions!

BidCactus.com is now running penny auctions 24 hours and offers approximately 360 auctions per day.

So far BidCactus users have won over 56,000 auctions! According to Compete.com in December of 2009, BidCactus greatly surpassed Swoopo.com in terms of unique visitor traffic, it shows that BidCactus.com had 467,960 more visitors than Swoopo’s US site (correction: US site, thanks Matt).

Bid for Haiti Relief

bidpack haiti bidcactus BidCactus tells us that as of February 3rd, 2010, they have collected as much as $3,015.00 with the bidpack for Haiti auctions, 100% of the donations will be donated to the Clinton-Bush-Haiti-Fund for earthquake relief efforts. They tell us that they plan to run the special bidpack auctions for an extended period so they are able to make a substantial donation.

Win 25 Free Bids on BidCactus’ Feedback Contest Tomorrow:

“The best improvements at BidCactus are the ones that come from the people who use BidCactus. We added eBay, Zales, Satellite Radios and more through your requests! Give us some more feedback (through our Facebook Discussion) so we can make BidCactus better for you! One lucky comment is going to be worth 25 free bids (awarded on Saturday), so make it a good one!”

bidcactus auctions

Have you tried BidCactus? Discuss your experiences with penny auctions in our forum!

(Disclosure: Links to BidCactus & Swoopo are affiliate links, if you decide to register on either penny auction site please register with our links to support Penny Auction Watch. Thank you!)

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United Kingdom Based Penny Auction Bidz-In.com

February 4, 2010

Bidz-In.com is a UK based penny auction that launched exactly a month ago today. In honor of their one-month anniversary they are offering everyone who purchases a bid package between 4/2/2010 and 5/2/2010, 25% free bidz (read details below).

The majority of the 60 completed penny auction items on Bidz-In.com  have ended for under £1.00 (bids [...]

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Swoopo Named to TechCrunch Europe Top 100 Index

February 3, 2010

TechCrunch Europe has just named Swoopo, with a score of 44, to the new TechCrunch Europe Top 100 Index list of “the most innovative and highest-potential European tech companies.”
TechCrunch Europe also adds that Swoopo – Germany raised $10,000,000 Revenue & Traction. Raised money from August Capital.
Swoopo has been credited as the creators of “Entertainment Shopping” on [...]

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Interview with New Penny Auction FooFaRa.com

February 3, 2010

Brand new penny auction site FooFaRa.com’s first auctions end on Friday, Feb. 5th. They were kind enough to extend a special promo code exclusive to our readers: Enter the code PAW3BIDS upon registration for a total of 6 free bids (in addition to the 3 all users receive).

Penny Auction Watch: What [...]

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Edited: ABidAway.com

February 3, 2010

Update: ABidAway.com has e-mailed to tell us that the users that had email addresses @abidaway.com were created by them but were people locally and they set up the accounts for them, and apparently their e-mail addresses too for promo bids…He wanted to clear that up, so you can read his response here: (And bid on [...]

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Sell Your Own Items on Dutch Auction POGNU

February 3, 2010

Pognu.com, Purchase Online Goods New and Used, is the first Dutch (price drop) auction that we have seen where users can list and sell their own items.

Pognu’s founder tells us that the unique thing about Pognu is that users can watch the prices drop and purchase the item when the price reaches what they are [...]

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Vamooza For Sale, Again

February 2, 2010

We just received a message from Vamooza.com’s new owners tell us that they have lost their funding and will be refunding bids and selling the site.
“We have lost our corporate backing and can no longer continue doing business at the highest level of professionalize our customers have come to appreciate.  All purchased bids will be refunded [...]

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ABidAway.com: 10 bids to The First 25 PAW Forum Members!

February 2, 2010

Update 2:43 PM, 2/3/10 : I am sincerely sorry for promoting this free bid promotion on a site that I believe is shill bidding. Read more here.

The limit of 25 users has been reached for this promotion.
New penny auction site ABidAway.com is giving away 10 free bids to the first 25 Penny Auction Watch forum [...]

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