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Lowest Unique Bid Auctions

Started by suzyq , Sep 30 2009 09:51 PM

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30 replies to this topic

#21

Chocolate
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Winnit was the first penny auction site I played. Low bid auction sites are similar to highest bid auction sites in that you have to know who you are bidding against. People tend to develop habits that are identifiable. So, you learn where they bid - how high, how many, whether they will come in at the last second.

As to the rest, once you identify habits, you know where to bid. I have to tell you those 'hints' mean absolutely nothing if you have some of the regular players who want the item, because at the last second many of them will put in a serial bid to wipe everything out.

The hints are not really indicative either if some of your regular bidders are putting in high bids just to throw the noobs off.

Once you get the pattern recognition down, you can really rack up.

While I have loved Winnit and the folks there have treated me well, I am phasing out my bidding there because (1) I spend too much time in front of my computer, rather than actually living, (2) the suspicious bidding habits of two 'persons' I have identified (you cannot learn anything with firebug on their site, btw), (3) they continue to slide in their alexa rankings (so I fear they will go under sooner rather than later and I don't want to be invested in bids and won auctions when they do), and (4) because they are now waiting up to the 30 business days (per their TOS) to send a lot of their larger items.

For those of you who wanna try it, I would suggest you just watch it like you would any other penny auction site before you throw in your bids randomly.

#22

mcsorl1
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I am a member of all the well known bidding sites and have been lucky enough to win some amazing prizes, I came across Bidbudgie through this website, I registered and told my wife and family and friends about it as we all love having a flutter on these sites, I must admit that sometimes we try to help each other and other times we try to outbid each other to be the ultimate winner, I won £10 on Bidbudgie for 43p and used it to bid on some GHD's for my daughter (you get a phonecall before they release the prize to confirm your account) and my son won £20 for I think it was 84p, he knew his sister wanted some GHD's and with Christmas coming up he used his winnings to also bet on the GHD's, within 15 minutes of my son paying for his prize and placing his bids HIS account, MY account and my MOTHERS (she is addicted to these sites now, she loves them more than bingo) account were closed, apparently 2 people from the same family bidding on the same item is NOT allowed, I have asked for money I have paid for bids and my sons money to be returned to our paypal address, I've heard nothing else.
Also you must be aware that the auctions on this site can run for months and months, I did'nt realise this when I bought my first bid package, once the auction reaches zero if the site has'nt made enough money on that auction the timer is reset and it starts again, I've never seen this before, I won a £170 wallet on Bidbroo for 1p, when the auction finished it shown you the bids placed, the only bids placed were 10 bids by me, this would not happen on this site so be prepared to spend money and wait a long long time for the auction to finish and do not invite family or friends or your account WILL be closed.

#23

BidBudgie
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I am a member of all the well known bidding sites and have been lucky enough to win some amazing prizes, I came across Bidbudgie through this website, I registered and told my wife and family and friends about it as we all love having a flutter on these sites, I must admit that sometimes we try to help each other and other times we try to outbid each other to be the ultimate winner, I won £10 on Bidbudgie for 43p and used it to bid on some GHD's for my daughter (you get a phonecall before they release the prize to confirm your account) and my son won £20 for I think it was 84p, he knew his sister wanted some GHD's and with Christmas coming up he used his winnings to also bet on the GHD's, within 15 minutes of my son paying for his prize and placing his bids HIS account, MY account and my MOTHERS (she is addicted to these sites now, she loves them more than bingo) account were closed, apparently 2 people from the same family bidding on the same item is NOT allowed, I have asked for money I have paid for bids and my sons money to be returned to our paypal address, I've heard nothing else.
Also you must be aware that the auctions on this site can run for months and months, I did'nt realise this when I bought my first bid package, once the auction reaches zero if the site has'nt made enough money on that auction the timer is reset and it starts again, I've never seen this before, I won a £170 wallet on Bidbroo for 1p, when the auction finished it shown you the bids placed, the only bids placed were 10 bids by me, this would not happen on this site so be prepared to spend money and wait a long long time for the auction to finish and do not invite family or friends or your account WILL be closed.


As was explained to you by email, it was the actions of your son after winning the credit (ie bidding on the same auction as every other member of your family) that caused us to close all of the accounts.

We have systems in place which flag up any sort of collusion in order to protect all of our honest and genuine members. We had already been in touch with you and advised you that we had seen all 5 accounts registered with your family and gave you and your family the opportunity to continue to play in a sensible manner. Instead you placed every bit of free credit and every bit of credit won in our free auctions by all of the accounts onto the same auction. What did you seriously expect us to do?

Our free auctions are there for everybody to enjoy. If the 5 accounts you hold all bid in every free auction (as you were doing - and within about 2-3 minutes of each other too) then they aren't fun for others as they have a much lower chance of winning.

Anyhow, the bottom line is all of your accounts have been closed and the monies have been refunded - and you're lucky we've done that considering your actions.

#24

teeko256
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I tried this type of auction the other night with free bids I had gotten. It seemed ok so I bought $50. worth of bids. Well on 2 of the auctions I was low bidder for awhile and then just as they were closing someone came in and out did me. Then when I went to bid on another auction I had no bids left. My fault for not reading the bids had gone up to $3.00. When I complained they returned my bids and so I tried again. I did win on the $5.00 but then just as the bigger items were ready to end the price went up to $3.00. I don't like these type of auctions and won't go back. I also didn't like the site. I don't think they explain it well enough. Not a big loss to them as I am not a big spender lol

teeko256-bidbidbid
Life is like freshly fallen snow
Be careful where you step
For every one will show.

#25

xpeacesellsx
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I won a bid pack for $0.04 on winnit, so I am going to try my luck there :) I will let you know how I do, if it's anything good or not!

#26

SmartBid
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I don't think they explain it well enough. teeko256-bidbidbid


Hello teeko256, I am concerned to hear your experience. Could you please help us understand which part was not explained well? We built and modified the site based on PAW member's feedback and opinions. And it's your feedback that will shape the future of the site. I hope that we can learn from your experience and and do a better job of explaining parts which are unclear. We appreciate your time. Thanks for playing with us.

#27

Penny99
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I won a bid pack for $0.04 on winnit, so I am going to try my luck there :) I will let you know how I do, if it's anything good or not!


Congratulations on winning:)

#28

laurakeppel
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Hi teeko256!
I have to admit that Thesmartbid.com is one of my favorites. Probably because the customer service is so good. There are a couple of real sharks on that site; one of whom seems to be stalking me. Every time I have the highest bidder there is one other user that completely blows everything out of the water. I've watched this person's bidding habits and for a week the only auctions they bid on were the ones that I bid on. I probably lost $1000 to this creep. The only consolation I have is it appears that they spent twice the amount to win the auction as what the items were worth.

I guess I like this type because I am tired of following an auction for hours only to be outbid by the folks who either jump in at the end or who must have gadzillions invested in bids. I know jumping is frowned upon, but how does one win on a site like quibids unless they jump??

Anyhow, sorry you did not like thesmartbid...I have won some pretty excellent stuff and am eagerly awaiting the postman even as I type.

Good Bidding to You!

#29

badeacon
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Hi teeko256!
I have to admit that Thesmartbid.com is one of my favorites. Probably because the customer service is so good. There are a couple of real sharks on that site; one of whom seems to be stalking me. Every time I have the highest bidder there is one other user that completely blows everything out of the water. I've watched this person's bidding habits and for a week the only auctions they bid on were the ones that I bid on. I probably lost $1000 to this creep. The only consolation I have is it appears that they spent twice the amount to win the auction as what the items were worth.

I guess I like this type because I am tired of following an auction for hours only to be outbid by the folks who either jump in at the end or who must have gadzillions invested in bids. I know jumping is frowned upon, but how does one win on a site like quibids unless they jump??

Anyhow, sorry you did not like thesmartbid...I have won some pretty excellent stuff and am eagerly awaiting the postman even as I type.

Good Bidding to You!


I have mixed feeling about Smartbid. I agree it can be a game of strategy but alot of times the bidding goes so slow even days between bids that it is hard to stay focused on it and sometimes forget about your bids. Maybe more bidders would make this go faster. Also the strategy is taken away by alot of bidders as they just come in and lay down a lot of consecutive bids at end to win and if you notice number of bids they are not getting deal and even going over retail. Why would you want to consistently go so high. It seems the same bidders do this alot. They just seem to not want anyone else to win. I think this runs off alot of new bidders when they come to site after experiencing. they have tightened the win limits which helps but there seem to be more ones using this strategy.
the auction is suppose to have only a certain number of bids but even if only 1 bid is left before end of auction if you set the multiple bid for any number of bids then all bids are taken. I think this takes the strategy out of it and allows this bidders to place multiple bids just to win even though they go over retail. sometimes i think the strategy is just to bid near end with alot of bids and not even care about cost.I think they need to find away to limit number of bids at end and end on the exact number of bids. they told me that they allow all the bids because they don't know which bids were first going from high to low or low to high. I think they could just state which direction the bids are taken and as long as known i feel is fair.
As stated I have mixed feeling although I have won Ipads.If they could find a way to keep strategy in then I feel they would get more bidders. If you are looking for great bargains you will not really find them in unique bids. My wins averaged about 30% savings. With the ability to come in and shotgun at end it is very rare to win with only a few bids.
Just my 2cents

#30

SmartBid
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Thanks to both Laura and badeacon for your honest feedback!

As mentioned by badeacon: We are making some adjustments in our win limits to maintain a fair bidding ground among power bidders and newbies. This is a constant adjustment as the site grows - We are already seeing the good effects of the new win limit. Lot of new bidders are winning their favorite products. As we said in our mail if you are a smarty pant and have won our featured products we want you to take a break from bidding on iPads and let others have a chance to bid on their favorite prodcts (We have a limit of 15 days prohibiting members to bid on same products they have won). Only fair we think!

Again thanks for the feedback around the late bidding. Let me give a little context why this was allowed and we are always open to reconsider if that makes sense to our members. We give the late bidders a hint where the current lowest unique bid is. Remember they have to pay double the cost of the early bids to find the lowest unique. So, lot of late bidders try to use the hint in its entirety to find the lowest unique and if we stop them not to go over (either by showing an error message or something else) - they can game the system to figure out exactly how many bids left. We do not want late bidders to unfairly game the system, at the same time we want to be fair to them by allowing using the hint. I must stress, this doesn't happen in our big auctions like iPad and such. This only happen sometimes in the low value ($25- $50) auctions.

However, your response has a quite a few good points and we will look at this issue again and see if we can just accept the low bids as you mentioned. It's not true you can't get bargains - look at our winner page and see how many people are saving 50% on a constant basis (Also remember we give bids back, reward bids back and also give free bids back). To be honest, in penny auctions only jumpers have savings over 50% and rest of them loses a lot of money. Would you prefer to bid and lose 70% of the retail and see a jumper win with 10% of the retail cost? Our site is much fairer in the sense the more you bid your chance of winning goes much higher! Compare that to penny auctions, where your previous bids has no bearing on the final outcome on who will win the auctions.

We love this kind of open and honest discussion - please invite more bidders to engage in such open and lively discussion. We are all ears and it's your feedback that will shape the future of the site. We read every comment and mail and try to do things that's fair and better for all bidders!

Happy Bidding to ya all!
SmartBid Team

Edited by SmartBid, 25 January 2011 - 08:07 PM.
typos, additional context


#31

gwalding
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GetInToo.com is a low unique bid website where you can use the bids you buy until you win something with them. We figured out a way to let people resue their bids, while at the same time, letting us operate and be profitable. Our profit margin is around 10% so it gives us some room to give back to our bidders.

We do have some complaints from people but if you read them, it's because they try hard to win but miss it by a few cents. If you notice their comments, you'll see they really use their replacement bids over and over. The reason it's a little harder, maybe than other websites. is that by letting them reuse their bids, there are a lot more bids to go around. If they keep trying, they will win. We like that people aren't losing lots of money on our website. Everyone has a real opportunity to win.

It's not as exciting as regular penny auction websites, but casinos are exciting too but who really comes out ahead?

Just wanted to let everyone know so they could check it out themselves.




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