Now is definitely a good time to invest in precious metals and the new penny auction site BidWealth.com may just be able to help you do just that. BidWealth.com launched just a few days ago and has already sent shipping notices out to Penny Auction Watch members.
BidWealth.com has generously offered the following prizes for this week’s giveaway:
-2 winners will each win a Silver Eagle coin!
Join this week’s Penny Auction Watch Giveaway Friday’s Giveaway!
Become a member of our forum or sign in now and enter. Join our free penny auction forum Click here.
- To enter to be eligible to win all you have to do is post a comment in the official Week 8 Giveaway Fridays thread in our forum and talk about money, gold & silver, the dollar, feel free include fun facts or whatever you want!
The deadline to enter for a chance to win is Thursday, August 4th, 2011 at 11:59 pm CST. Prize winners will be selected at random and announced in the forum thread next Friday before we announce the next giveaway! (Want to sponsor a prize(s)? Let us know!).
We interviewed BidWealth.com this week today to learn more about their new penny auction for commodities:
New Penny Auction Site Introduction/Questionnaire for Penny Auction Watch. Penny Auction Watch: What got you interested in the entertainment shopping industry?
It’s really kind of interesting… BidWealth.com is a family owned company, Stephen Miller and his sister Gina Miller Balckburn PhD, own the company. I’ve been a family friend for many years and have had a great deal of success in internet marketing. About a year or so ago Gina came to me because of my marketing background and showed me a penny auction site… She thought they were incredible! As soon as I began watching them, I immediately thought of precious metals. In today’s unstable world, if you can provide an avenue for people to acquire items of TRUE VALUE at incredible savings, while STILL making a profit, that’s a no-brainer to beat all no-brainers
Penny Auction Watch: What makes your penny auction site unique? When will you open?
Our uniqueness is in the products we offer. Gold, Silver & Platinum are the ONLY items in the WORLD that have a TRUE intrinsic value. Buying a $500.00 iPhone for $.15 is neat, but it ISN’T a $500.00 item when it’s delivered. $250.00? $350.00? MAYBE $400.00… $500 in GOLD is $500.00 PERIOD. And a YEAR from now? $750.00? $1000.00? The iPhone? $100.00? In addition to our products, our uniqueness is going to reveal in coming months, we REALLY want to manage our non-winning members. We want BidWealth.com to be an avenue for WEALTH CREATION, and I don’t mean ALOT of wealth for a few, but an avenue that as many as possible actually WIN
Penny Auction Watch: What kind of items do you have lined up? Will your auctions run on a schedule?
Currently we are operating on a limited schedule; Mon, Wed, Fri starting at 5pm EST. We intend to expand that as quickly as possible to Sun – Fri starting at 5pm EST, then expanding to an earlier start time. When exploring Penny Auctions; hours, item value, etc. It was made abundantly clear by virtually EVERYONE we spoke with. If you plan to open and run high ticket items and/or operate 24/7 out of the gate. You HAVE to use bots. Which makes sense, I’ve seen PA sites open, immediately run 24/7, or 5 or 7 days a week, and/or have $1000.00 retail items. ALL while receiving 2-4000 TOTAL site visits a month. I’m not saying these are out-right DISHONEST people, but there are ways to get there without faking it. Limited hours, reasonable items and controlled expansion. THEN you can run a fair site for the users, grow as needed and create a loyal base.
Penny Auction Watch: What are the timer increments between bids/does this vary by auction?
10 seconds on all auctions
Penny Auction Watch: How much are your bids?
Our bids stair step from $1.00 down to $.65. We MAY from time to time offer specials
Penny Auction Watch: What are your shipping costs?
That has actually been in flux. Starting with Monday night’s auctions, shipping will run $7.95 on everything. Since we deal in Precious Metals all shipments have to be Insured for the full retail value. Trying to determine on a per item basis just doesn’t make sense
Penny Auction Watch: Are there any win limits, limits /household?
We are currently at 7 per week & 15 per month… As our user base grows we will have sticter win limits to try to be able to serve all our users
Penny Auction Watch: Is there a story behind the name/theme?
Well, it started out as variations of gold, commodities, metals and bidding… But then since Wealth is what one can truly acquire by responsibly bidding on the site, BidWealth seemed to make sense.
We are excited to be a part of your community and look forward to serving our customers for a very long time. Mostly we are very grateful for the warm and excited reception we have received by your community
To learn more and talk with other bidders about BidWealth & all other penny auctions visit our forum!
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ProtoProtoss July 29, 2011, 10:14 pm
I can vouche for them… they are indeed legit, and according to tracking numbers, my first wins will be here tomorrow afternoon.
pennyauctionwatch August 2, 2011, 4:26 pm
@protoprotoss thanks for letting us know about your experiences on penny auction @bidwealth