New Penny Auction Item and User Strategy Search Engine Launched Today

penny-auction-intelligenceHave you ever wanted to purchase a certain product on a penny auction site but didn’t know which one offered it? Now you can do just that on the brand new strategy search engine tool for penny auctions that was just launched by Louis Gendreau, the founder of not-yet-launched penny auction Winzee.com, and the PennyAuctionIntelligence.com blog.

The real-time search engine is free and located at www.pennyauctionintelligence.com. “Our search engine tells you the only two things you must know to play smart and win. First, is an item generally to the player’s advantage or to the auction site’s advantage? Secondly, are you up against aggressive or passive bidders?” said Louis.

The search engine allows users to search both user bidding names and item names across  Quibids, BidCactus, BidRivals, MadBid, Beezid, SkoreIt, and BidHere.

Not only does the search engine allow you to find any item on the above indexed sites, it offers an “Advantage Scale”.This scale immediately lets you know to what degree an auction is to the advantage of the players or the auctioneer.  According to Mr. Gendreau the winner savings is what everyone looks at, but it’s the wrong indicator to check.  “The real thing you should know is if you are participating in an auction where, on average, the house or the players are making profits.” The winner savings tell you what the winner saves, but that’s a tiny part of the story.  The Advantage Scale tells you how all the participating players are doing against the site and it is the best indicator of the auction competitiveness, which greatly affects your odds of winning.”

I asked Louis just how his Advantage Scale works and he told me,

“The goal was to have a “one glance” number to understand if an item is, on average, a good deal or not.  Now how do you measure that??

I’ve been hacking at numbers for a loooong time. It’s better to play on auctions on which all players spend the smallest value of the item in %.
1) You are more likely to win
2) You will have spent less even if you lose.
3) and since the % of value of the item you will bid is smaller it should give you a better return in the long run.
The amount of $ all players put in an item compared to the value of the item is also a great measure of the item “hotness”.  So if they put in more $ than it’s worth, it’s a hot and difficult item to win.
The Advantage Scale gives you a measure of where this item stands in rank on the “advantage to bidder” side and on the “advantage to site” side.  If it’s low, bidders collectively are spending way less than the item is worth. If it’s high, bidders are collectively spending way more than the item is worth.  If it’s near the middle, bidders are spending collectively about what the item is worth.
The winner savings is very volatile (there is little pattern, it’s all over the chart) so it is not the measure by which you should decide to bid on an auction.  On top of that, since there is more chance you end up NOT being the winner, using this stat does not make sense, does it?”

Search results on PennyAuctionIntelligence for penny auctions for a MacBook Air:

The following is data for the MacBook Air on the penny auction site Beezid.com:

The graph indicates closing prices, previous auction outcomes/winners and states that this item has been a “small disadvantage to bidders,” with the average winner bids being 2,407.

beezid-macbook-air

To answer the second question you search on player names and instantly get the “Aggressiveness Scale”.  This lets you know how aggressive a player is compared to the others on the site, “so you can decide if you want to go up against him or not” said Gendreau.

If you want more, both searches also return the usual information and a ton more details not seen anywhere else which were designed to let the players build the best penny auction strategy possible. The item page shows you statistical info like average and median bids and price as well as average savings.  The histogram of closing prices is also given and is a very precious strategic tool. “The data is so skewed, you cannot rely on averages, you need to see how it is distributed.” said Gendreau.

“This penny auction strategy tool has been in the works for a very long time, and I think we finally nailed it.  We built it using the latest web technology so you get your results back super-fast. The system also has an auto-suggest system to help you with your queries” said Gendreau.

What do you think of this new penny auction search engine? Discuss this with us in our penny auction forum! It’s free to join! Visit us at http://pennyauctionwatch.com/forum/ to Join Now!

 

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4 comments… add one
  • passerby May 24, 2012, 10:04 pm

    I thought that quibidsreport.com was the first.

    Reply
    • Amanda Lee May 26, 2012, 12:38 am

      Oh! I did not know that. Thanks for telling me.

      Reply
    • Louis Gendreau May 28, 2012, 2:28 pm

      But pennyauctionintelligence.com is free, not Quibids Report.

      Reply
  • best penny auction sites July 4, 2012, 4:37 am

    Great post, very helpful,I came across this site and I wanted to share this to you, this helps me fix my bad credit.But pennyauctionintelligence.com is free, not Quibids Report.

    Reply

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