by auctionwatcher on February 8, 2010
“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.
by auctionwatcher on February 7, 2010
Penny 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!
by auctionwatcher on February 5, 2010
BidCactus 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
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!”
(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!)
