Penny Auction Watch Forum user Brutal has just posted an excellent thread asking what penny auction bidders would want from a penny auction site. Thanks Brutal!
Take a look at the thread The Ultimate Penny Auction Wish List and let us know what your suggestions are!
“Here we are, a group of like minded people who participate in penny auctions, and some even own penny auctions.
I suspect that many penny auction site owners watch this forum to keep their thumb on the pulse of the user community.
Lets use this site to tell all existing and future penny auction site owners exactly what we want.
Keep it realistic, the site has to make a profit so no comments about 1-cent per bid or other non-realistic things.
The power bidders need to be able to make a good daily profit – the causal bidders need to be protected.
- how quickly should items won be shipped
- what is the ideal price point for how much we should be charged for bids
- anything that happens in a penny auction that matters to you… you should list it here.
Again, lets keep it all realistic so that site owners can come here and see in real-time exactly what their customer base wants and give them the opportunity to provide it rather than just posting about things you don’t like in various auctions.
I’ll get it started… to me, the shipping fees are an issue. Some sites do not charge shipping fees, other sites do, none of it is standardized.
So, if I owned a penny auction site, I think I would try using the overstock.com shipping practice…. no matter what the item is, charge a flat rate fee for any shippable item.
The site owner will take a loss on shipping on a few items, break even on most items, and turn a small profit that makes up the previous losses on a few items.
It just seems like a good setup to me…. anyone care to expand on this or bring up your own idea/point?”
Feel free to join our forum, post your comments and questions about penny auctions! We need your help to determine which penny auctions are legit and which are scams.
Thanks!
Image Credits: CC by SA 2.0 http://www.flickr.com/photos/leedman
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Mark B. December 23, 2010, 2:08 pm
I will be a future owner of a Penny auction Site, but Im trying to make things fair to others by creating a system for clients and site to win. A profit has to be made and many auction sites will have the option for customers to buy it now but is not enough!. The question is what else besides honesty and morals -No Robots – Fake Bidders – Fast shipping – Cheaper Shipping – what else is missing to make penny auction sites a better and fair play environment. Anyone? I will come back here to see the feedback and i will adjust things before i get finish with my auction site.