Have you bid on the penny auction site ThorBids.com? ThorBids has been open for a few weeks now, their owner tells us he went from being a penny auction skeptic to being so sold on the concept after winning items that he went on to start his own site. ThorBids offers a “buy it now” option, users can apply the cost of bids already placed to purchasing the item.
A user posted this review to our forum:
” I have been on a few other sites and as a newbie I like the simplicity of this site I have been on this site since it opened and can say that I have no complaints. Everything has been shipped quickly and while I know a good review will mean more bidders and less wins for me I think you should give this site a try.”
Read our interview with ThorBids’ to learn more.
Penny Auction Watch: What got you interested in the entertainment shopping industry?
ThorBids.com: I was reading an article one day about a new form of competitive shopping called penny auctions and thought I’d give it a look. I’m an entrepreneur at heart but I’m also very skeptical about anything that sounds too good to be true. I started with a site that’s familiar to many and I read their terms of use. I found it very intriguing and so I started crunching some number and reading some more blogs. After numerous user comments I found that, in general, people just didn’t understand the concept and thought it had to be a scam, so I decided to throw some money out there and see what happened. For two months I bid and bought items and I logged (and still do) everything that I bought. I found very quickly that the site I was using was legit and from there I was hooked. As I continued researching I discovered the darker side of Penny Auctions and shill bidding tactics, etc. We stand firmly against these practices. It’s my opinion that there is room for many penny auction sites and I want to be a part of the core sites that are considered legitimate. We’ve set up ThorBids with that very thought in mind. Our combination of the Buy It Now, low bid price and recurring referral bonus system makes us a site that is good for anybody.
Penny Auction Watch: What kind of items do you offer? Do your auctions run on a schedule?
ThorBids.com: Mostly we are offering gift cards in the $10 – $25 range. As we grow these will increase in value. Right now all auctions are taking place beginning at 3:30 EST. We do have a few great items lined up though… We will be offering a 32 GB ipod Touch in the near future as well as a Blu Ray player and an ipod Nano… As we continue to grow we will be offering some rather unique items but I’ll reserve any comment on those until later.
Penny Auction Watch: What are the timer increments between bids/does this vary by auction?
ThorBids.com: Right now the timer will reset back to 20 seconds after a bid if the timer is currently under 20 seconds. If it is not under 20 seconds it will not add time back onto the clock. Eventually, we’ll implement a tiered timer that adjusts based on the price of the item.
Penny Auction Watch: How much are your bids?
ThorBids.com: 60 cents per bid
Penny Auction Watch: What are your shipping costs? How long does it usually take for users to receive their items?
ThorBids.com: We tell people it will take 10-14 business days for them to receive their items but we try to get them out as quickly as possible. As for the Shipping costs, they are a little higher than some other sites right now because of our smaller user base but we will be lowering them to be competitive with the rest of the industry as we grow.
Penny Auction Watch: What states/countries are you open to?
ThorBids.com: US only for now
Penny Auction Watch: What is your policy for bid refunds?
ThorBids.com: We do not refund bids except in some cases where a technical difficulty has caused us to make an exception. All cases are handled individually and no decision is ever made that may be unfair to other members.
Penny Auction Watch: Are there any win limits, limits /household?
ThorBids.com: Right now its 5 wins per 7 days not counting bid auctions and Buy It Now purchases. One registered user per household.
Penny Auction Watch: Is there a story behind the ThorBids name/theme?
ThorBids.com: We are working on a new type of bid for our site called a Hammer Bid. It’s something that will be different from the normal bid that you might place on an auction. That led us towards the Thor name (“Thor’s Hammer”) and eventually, our name ThorBids.com. Plus, the domain wasn’t taken. 🙂
Also, you can follow us on Facebook at www.facebook.com/thorbids and on Twitter at www.twitter.com/thorbids
Thanks ThorBids! Post your reviews and discuss ThorBids.com in our penny auction forum!
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gopherjoe June 20, 2010, 1:16 pm
Nice review, however I don’t think I can trust a site to pay me when they blatantly steal images from a website when they only cost a few dollars each.
http://i.imgur.com/oVMoG.jpg
iwontgiveup June 20, 2010, 2:07 pm
Amen to that gopherjoe.
buckeye June 21, 2010, 10:31 am
Well, not sure about stealing images and all that, but I have won several auctions at Thorbids and have received my winnings. I hear what you are saying, but I guess you can't really judge a book by putting a microscope on its cover 😉
With so many penny auction sites messing people over, I wanted to put my two cents in and confirm that in my experience Thorbids is legit. I recommend them…but don't bid against me 🙂
Buckeye
Scott June 21, 2010, 6:15 pm
gopherjoe, The image you referenced was included in the script that we purchased. It was always intended to be updated and removed and was being used more as a filler than anything. Script logic and customization has taken a higher priority for us as we are much more concerned about the efficiency and use of our site for our bidders than cosmetics. But, as I said, it was included in the purchased template and we thougt we were ok to use it in the interim. We are addressing this matter and I really do appreciate you bringing it to our attention. I'm sorry if its left you a little nervous about our site but I can assure you that anyone that has used our site and has won items has received those items.