Penny Auctions and Lowest Unique Bid Auctions for Good

PSGIVEI haven’t seen many lowest-unique bid auction sites in awhile, so was pleasantly surprised to come across PSGive today.

PsGive.org is an entertainment shopping site for good. PSGive combines lowest unique bid auctions, price reveal auctions and standard penny auctions and was specifically created to increase awareness and revenue for non-profit organizations.

PsGive.org periodically features a number of items from passes to popular expos such as the 2014 New Media Expo to consumer electronics, vacation packages, gift baskets and other items from a variety of charities and non-profit organizations.

In 2011 PSGive was awarded the Mashable Award for “Most Promising New Company.”

How does PSGive Work? 

First, you must obtain tokens. Tokens can be earned by 1 of 3 ways: 1. Purchasing a partner item, right now they feature Windows8 and a gourmet gift basket website. 2. Tokens can also be obtained by sharing current charity auction events. 3. Tokens can also be purchased. Tokens are sold in packs of 5-500 and range in price from $0.70 to $0.52 (with the price decreasing when purchased in larger pack).

Then, you pick a charity event. PSGive does not currently have any active events, but in the past event
s have included lowest-unique bid, price drop auctions and the usual pay-per-bid penny auctions for items such as an iPad Mini in support of the Good Company to a Beach/Dive/Snorkel Vacation & iPad supporting the National Breast Cancer Coalition, as well as an Kindle Fire to support Keep America Beautiful and more.

Raise the Price, Reveal the Price or Be Unique to Win

Unique Bid

Like other lowest-unique auctions (read more about lowest unique bid auctions here) the object of the game is to be the user to place the lowest-unique, unmatched bid in the auction and hold the lowest-unique bid when the auction ends to win. A bit controversial, and even deemed illegal in Italy  – it’s best if a site sends users “signals” (like the now seemingly dead lowest unique bid site Winnit.com did). These signals will indicate whether or not you are already the lowest unique bidder, and provide the user with a range that the lowest bid may be in.

The user holding the lowest unique bid will be the winner and able to obtain the item at the auction’s end price.

Raise the Price

These auctions start at a sale price as low as 90% off the value, bid to raise the sale price and the winner at the end of the auction can win the item at the final price.

Reveal the Price

Just like a classic reveal-price auction, users use tokens to reveal the current price which is shown for 3 minutes and an opportunity to purchase the item at the stated price. With each reveal the option price decreases.

Pretty cool! Now we’re just watching to see when their next item will be up so we can give it a try!

Discuss all forms of pay-per-bid penny auctions in the Penny Auction Watch forum. Have you bid on PSGive? Let us know what you think of it!

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