Sunday, October 4, 2009

GiftCardBidz.com is a new penny auction site for gift cards that opened just a few weeks ago.

We happened to find them on the first day of operation and at 3am EST they had bidders actively bidding. Now they show 246 pages of ended auctions. The majority of the 1,233 gift cards have all ended with  less bids than half of value. It looks like they’re taking significant losses if these are all real bidders.

According to the stats, GiftCardBidz averages about 160 pageviews a day, and has an Alexa ranking of 6,854,359. It doesn’t seem like a wise decision for a penny auction to put up so many auctions (15/day) with traffic so low. The only name that we recognize out of over 1,000 items is kauaikapaa.

Join the penny auction forum and let us know what you think. Have you won & received a gift card from GiftCardBidz?

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