100DollarDreams.com Levels the Playing Field with Seat Auction

Have you tried out the new seat auction site 100DollarDreams.com? We recently interviewed Brian of 100DollarDreams.com to learn how 100DollarDreams provides a level playing field for all bidders:

“100DollarDreams.com is not really a penny auction site in the traditional sense, but my partners and I still remain fans of penny auction staples like Beezid and BidCactus. The difference between us and them is the seat auction concept. With seat auctions, the playing field is leveled. No one can bully their competition by simply “buying to win.” In other words, on a typical penny auction site, even the best of competitors, at the top of their game, can still lose to someone playing against them that has the cash to keep bidding. In a typical penny auction, a player has no idea how many people he or she is playing against or how deep their pockets are. This undermines the importance of strategy.

On our site, everyone is on equal ground with one seat per player and twenty bids per seat. Memory, strategy and patience are what makes the difference between winners and losers. On 100DollarDreams.com, our players don’t have to worry about some whale coming in to buy out an auction.

Right now, we are smaller than we ultimately want to be. Our goal is to have regular auctions of real “Dream Products” like cars and luxury vacations but we know we have to gain a ton of consumer trust before we get to that point. We also want to ensure that we don’t grow ourselves out of business by sacrificing excellent customer service. Right now we have a small but extremely loyal and extremely cool customer base. They give us feedback, tell us what they like, what they don’t like and what direction they’d like us to take. With a limited advertising budget, we also rely on them for great word of mouth.

That brings up another way we’re different than penny auction sites. If you’re a penny auction fanatic, one of your best strategies is to keep that site a secret and limit your competition. On 100DollarDreams.com, the more customers we have, the more auction items we can present. We’ll never really be about merchandising or think of ourselves as some form of a shopping site. We’re about strategic, competitive fun and making our customers happy.”

Read our interview with the 100DollarDreams team to learn more!
Penny Auction Watch: What got you interested in the entertainment shopping industry?
100DollarDreams: All our founding members were daily penny auction fans, and played the various sites quite often. Ultimately, we got turned off by the unknown odds and lack of customer support.

Penny Auction Watch: How long has 100DollarDreams been open?

100DollarDreams: We opened our doors on July 12th, and have already had a great response.
Less than 2 weeks later we have over 2000 registered users and have given out over 26 prizes.

Penny Auction Watch: What kind of items do you offer/ have lined up? Do your auctions run on a schedule?
100DollarDreams: We try and keep it interesting for our customers, so they range anywhere from $100 Visa Gift Cards to Luxury BMW 3-series cars.

Penny Auction Watch: What are the timer increments between bids and does this vary by auction?

100DollarDreams: All auctions start with 10 minutes on the clock. When the clock goes below 20 seconds, each new bid resets it to 20 seconds. It never varies and makes for a quick, exciting game.

Penny Auction Watch: How much do your seats cost?
100DollarDreams: They range from $5-$100, depending on the item and number of competitors. Each seat come with 20 bids and we limit auctions to one seat per customer.

Penny Auction Watch: What are your shipping costs? How long does it usually take for users to receive their items?

Shipping is currently free In the near future we will offer our customers 2-day and overnight options.

Items are ordered the same day as the win and usually arrive to our customers with 5-9 days of the order.

Penny Auction Watch: What states/countries are you open to?
We are open to all states in the U.S. including Alaska and Hawaii.

Penny Auction Watch: What is your policy for seat refunds?

We are currently selling out 90% of our auctions. If for some reason the auction isn’t held, the customers get a refund that same day.

Penny Auction Watch: Do you enforce any win limits, limits /household?

100DollarDreams: We currently do not have win limits.

Penny Auction Watch: Is there a story behind the 100DollarDreams name/theme?

100DollarDreams: Yes, with our style auctions anyone can participate in a $100 auction and if their strategy is good, win a dream prize (Cars, Motorcycles, Vacations, etc).

Penny Auction Watch: Thanks 100DollarDreams!
Discuss & review 100DollarDreams.com in our penny auction forum!

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6 comments… add one
  • jack August 5, 2010, 10:25 am

    ISnt this more of a raffle now, taking away the skill part of the game. what strategies are available to win now with your concept?… with penny auctions a good strategy for the bidder is to scare off competition placing ALOT of bids and to be the alpha dog. Your concept does not offer this opportunity and imo is more of a gamble then an auction.

  • jack August 5, 2010, 10:26 am

    i would make sure to get some legal advice too before you go about advertising this.

    • Amanda August 5, 2010, 5:03 pm

      I am not really advertising the site, but thanks for your comment.

  • jack August 5, 2010, 5:35 pm

    i was not referring to you Amanda, my comment was for the owners of 100dollardreams

  • Tralana August 6, 2010, 4:21 am

    I bought a seat to this auction for the 2010 BMW that was to take place tonight. It was canceled. I am dissapointed. I did get my money back in the online account. Not sure if I will go for any others.


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