Still Tons of Bidders on iPennyBid! Really?

crowd http://www.flickr.com/photos/victoriapeckham/ / CC BY 2.0

A reader just told us that they found iPennyBid from an ad on Facebook. (We’re on Facebook btw, click the link to add us!)

(Read our previous posts on iPennyBid: July 31st, August 11th)

The amount of bidders and the user names look pretty suspicious for an auction that’s only been in operation a month. Take a look at some of the usernames that are bidding on the  6 big ticket items going right now:

Current Bidding History for the Samsung LN40B550 40-Inch 1080p LCD $17.89 (1,789 bids placed)

TIME BIDDER TYPE
Today, 19:47:54 wahine894 Single Bid
Today, 19:47:38 w1kt0r Bid Buddy
Today, 19:47:32 ma2xt Single Bid
Today, 19:47:10 w1kt0r Bid Buddy
Today, 19:47:10 ma2xt Single Bid
Today, 19:46:53 w1kt0r Bid Buddy
Today, 19:46:25 esivret79 Single Bid
Today, 19:46:19 madameshila Single Bid
Today, 19:46:18 w1kt0r Bid Buddy
Today, 19:45:55 esivret79 Single Bid

Current Bidding History for the Xbox 360® Resident Evil Limited Edition Console: $4.99 (499 bids placed)

TIME BIDDER TYPE
Today, 19:48:51 saanukki Single Bid
Today, 19:48:45 lauran_2 Single Bid
Today, 19:48:35 saanukki Single Bid
Today, 19:48:19 haessa Single Bid
Today, 19:48:13 saanukki Single Bid
Today, 19:48:01 haessa Single Bid
Today, 19:47:50 saanukki Single Bid
Today, 19:47:40 haessa Single Bid
Today, 19:47:27 saanukki Single Bid
Today, 19:47:06 haessa Single Bid

Current Bidding History for the HP G60-440US 16-Inch Laptop $6.30 (630 bids placed)

TIME BIDDER TYPE
Today, 19:52:01 nahida Bid Buddy
Today, 19:52:01 qraizee Bid Buddy
Today, 19:51:49 carda22 Single Bid
Today, 19:51:21 qraizee Bid Buddy
Today, 19:51:21 nahida Bid Buddy
Today, 19:51:01 qraizee Bid Buddy
Today, 19:51:01 nahida Bid Buddy
Today, 19:50:49 qraizee Bid Buddy
Today, 19:50:35 nahida Bid Buddy
Today, 19:50:26 qraizee Bid Buddy

Current Bidding History for the 16GB iPod Touch $17.10 (1,710 bids placed) The touch is a great iPod, I got one for under $50 a few weeks ago… but really 1,710 bids have been placed so far? Wow…

TIME BIDDER TYPE
Today, 19:53:52 piercedjewel Bid Buddy
Today, 19:53:26 bear1966 Bid Buddy
Today, 19:53:26 piercedjewel Bid Buddy
Today, 19:53:14 bear1966 Bid Buddy
Today, 19:53:04 piercedjewel Bid Buddy
Today, 19:52:43 bear1966 Bid Buddy
Today, 19:52:43 piercedjewel Bid Buddy
Today, 19:52:11 s1b Single Bid
Today, 19:52:08 bear1966 Bid Buddy
Today, 19:52:08 piercedjewel Bid Buddy

Current Bidding History for the HD Sony Bravia 40inch LCD Television $15.64 (Bids placed 1,564 as of  7:57 pm EST)

TIME BIDDER TYPE
Today, 19:55:58 lux_noctis Bid Buddy
Today, 19:55:50 venom Single Bid
Today, 19:55:49 aaash Single Bid
Today, 19:55:21 lux_noctis Bid Buddy
Today, 19:55:21 pairotto Bid Buddy
Today, 19:54:59 lux_noctis Bid Buddy
Today, 19:54:59 pairotto Bid Buddy
Today, 19:54:48 lux_noctis Bid Buddy
Today, 19:54:35 pairotto Bid Buddy
Today, 19:54:13 lux_noctis Bid Buddy

Current Bidding History for the Onkyo HT-S5200 7.1-Channel Entertainment System $7.80 (780 bids have been placed) It just ended with 780 bids, Daintiness won on Bid Buddy.

TIME BIDDER TYPE
Today, 19:57:52 daintiness Bid Buddy
Today, 19:57:47 xalelee Single Bid
Today, 19:57:26 daintiness Bid Buddy
Today, 19:57:14 sspatel Single Bid
Today, 19:57:12 daintiness Bid Buddy
Today, 19:57:01 sspatel Single Bid
Today, 19:56:41 daintiness Bid Buddy
Today, 19:56:41 xalelee Single Bid
Today, 19:56:19 daintiness Bid Buddy
Today, 19:56:13 sspatel Single Bid

ipennybid august 12thMany trusted penny auctions have yet to turn a profit yet iPennyBid is making bank on each and every one of their items and they’ve only had the domain registered for a month? Really? We’d like to believe so. Periodically I’ll stop in and watch the auctions at iPennyBid and I’ve seen a lot of bidders with multiple zeros and jumbled up usernames.

What do you think of this username: enujdleifnob? Yep, that’s a user on iPennyBid.

August 2ndipennybid scam items

July 31st:ipennybid scam penny auction

In iPennyBid’s terms & conditions they claim that they are running a successful business:

Q. This sounds too good to be true, how do you make money giving away items for such asin low price?

A. We are able to run a successful business by charging each user for the bids that they place. As shown on our home page, bids can be purchased in packages.

They also claim that they have been operating since May-but their domain was purchased on July 11th.sin

iPennyBid.com – A new approach to online auctions

Founded in Canada in early 2009, iPennyBid.com is becoming one of the world’s most innovative auction sites. Based on a unique software solution and business model, the company sells premium products like: computers, cameras, game consoles and cash, at very low prices

Here is how it works: our online customers buy “bids” in advance. They cost approximately $0.50 USD each and are sold in “Bid Packages”. Bidders have the choice of placing single bids, or, using an electronic bid assistant called the “BidBuddy”. iPennyBid.com will soon be bringing bidding via the phone to our customers.
Every bid placed, increases the price of the product by 1 penny and the auction countdown by up to 20 seconds. To help keep track of the money spent on bidding, each auction displays the amount spent on bids by the customer and how much the bidder would save overall, if they won the auction at that moment.
The ‘last bidder standing’ when the countdown reaches zero, wins the auction – usually at a very low price; winners save, on average, 85% when compared to the recommended retail price.
In May 2009, iPennyBid.com was successfully launched worldwide, specializing in the US, Canada, UK, Australia and New Zealand market.

iPennyBid.com received substantial funding from a private investment company located in Canada in June 2009.

Contacting Us

iPennyBid, Inc.

29 Sainte Paul Street
Casselman,
ONTARIO,
K0A 1M0
Canada.

Bids on iPennyBid start at $0.60

For what it’s worth… not quite sure if this has any significance, but it looks like ipennybid.com is hosted in Singapore with these guys:

“We are a fully Offshore Hosting Services Provider based in Hong Kong, the financial and telecommunications center of Asia, with the freest economy in the World (including very low level of government involvement in business activities, and very low level of restrictions, intervention, and regulation)…We require no information beyond what is needed to receive payment and we are fully offshore, so your privacy, security, and confidentiality is ensured.”

Us, along with Zoozle, Rockybid, GoBid, BidRodeo, BidCactus, YottaBid, etc. are hosted in the USA.

iPennyBid’s Alexa ranking, as of today 8-12-2009,  is  828,184.

In case you’re not familiar with Alexa rankings, the smaller the ranking the more traffic the site gets (higher popularity).

The most popular site, Google is  #1, Facebook  #4.

  • Bidrodeo: 385,065 They only received 63 bids on the last PS3 they received.
  • Zoozle: 150,308 A 32″ Toshiba LCD TV recently ended with only 33 bids placed, Wow congrats Webdude!
  • RockyBid: 143,047 Recently auctioned off a DSi for 36 total bids!
  • BidCactus: 64,691 Let go of a Canon EOS Rebel for 122 bids!
  • Swoopo: 8,124 And yes, even Swoopo, er. ok the odds of winning on Swoopo are ? Just look at their page rank!

What do you think? We love reader contributions, join the forums and discuss anything you’d like related to iPennyBid or other similar auctions.

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