I just spoke with the founder of soon to launch penny auction site WizBidz.com, Thomas. Family owned and operated, WizBidz will officially open its doors on January 22nd.
Thomas, raised around hunting and the outdoors, became intrigued by penny auctions when he came across guns4pennies.com, a penny auction site specializing in firearms and ammo. He won a bid pack on the site, then a few small items on BidCactus. Then saw TV commercials for QuiBids and DealDash, he started to study the business model and get a feel for how penny auctions work.
“WizBidz is a family run site, with over 3 generations of expertise on our team. Combined we have over 160 years of owning, operating, and running businesses across multiple industries and sectors. We are based here in Aledo, Texas with a permanent working office in downtown Fort Worth. Our team currently holds 6 full-time staff, with two more part-time staff members to be added before our first official launch on January 22, 2014.
We are based on three main principles of Honesty, Fairness, and Transparency. We are honest to our customers about how the site operates(no corrupt cheating), fair in our dealings with them, and transparent with all our customers and our business relationships.
WizBidz will hold anywhere between 150-240 auctions everyday (number is expected to stay the same for at least 6 months and gradually increase with new installations to the site every quarter). Our product categories range from Electronics to Health and Beauty to a few fun categories such as “Mancave” and “As seen on TV”. We offer a category that gives newcomers a better opportunity to win with the “Under $5″ auctions. These allow unfamiliar customers the opportunity to get their feet wet on small value items without too much competition. Our bids are priced at $0.60. We have the best mascot in the industry with “WizBidder”, making all your penny dreams come true!”
Starting the 22nd, WizBidz will offer a week’s worth of promotional items…valued at under $20 dollars.
Everyone who registers and purchases a bid pack will get 20 free bids to bid on the promotional items. Then, on January 29th, at 9 am, WizBidz will roll out with higher-valued items, marking their full launch.
The new penny auction site will have win limits based on product value and a maximum quantity. Wins are limited to 28 auctions during a 28 day period. Up to a maximum of 7 items per week and 5 auctions per day. Each bidder will be limited to 3 wins of items greater than $1000 per 28 day period; 3 wins, greater than $295 but less than $1000, per 28 day period – these limits do include bid package wins. From time to time, there will be labeled “NO LIMIT” auctions.
WizBidz gets its name from their Wizard mascot, Wiz.
One thing that really jumped out at me is their special category called “Man Cave Auctions” – this category will feature products that men would want to proudly display in their man caves. Items in the Man Cave category will include sports memorabilia and a lot of large “novelty” items.
Bids will cost $0.60 a piece.
Big point: Thomas says they will never cheat by using shill bidders.
We look forward to checking out WizBidz once they launch.
If you decide to try them out be sure to let us know what you think and share your experiences with us!
Join our Penny Auction forum to learn more about penny auctions and help us expose the scam sites and highlight the good!