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#41

Silentstalker
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hey pennybidders,
i just won 2 of the test items and the thing that I noticed is....when it is counting down it skips the number 2 and goes straight from 3 to 1 and its done. Also, when you bid at the last second it only adds 7 seconds to the auction and most auctions sites add at least 12 seconds. I like that they are at least fast paced

#42

pennybidders
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The skipping thing is kind of odd. I wonder if it has to do with internet lag. If that is an official term for anything. I will look at the timers to see what I can find.

As for the 7 seconds, I can make it longer if everyone would like. It sounds like you like the shorter times.

I am still looking into the bidbutler "problem" where several minutes is added each time two people use it.

#43

rpgman1
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Shorter times make bidding more intense and more likely to have jumpers coming in, but bidders start paying attention to the auction and hope it will end faster. Bidbutler still needs to be worked out because I don't want to see 10 to 15 minutes added to the timer, prolonging the auction.

#44

pennybidders
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Come check out the site. I have a good selection of games, gift cards and bid packs to start things off with.

#45

rpgman1
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Decent selection of goods like other PA sites. Will there be any beginner auctions for those who haven't won before? How about auction limits for won auctions?

Edited by rpgman1, 22 May 2010 - 12:09 AM.


#46

PAWUSER8
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Come check out the site. I have a good selection of games, gift cards and bid packs to start things off with.

Are there any win limits in place? So far 5 auctions up and you have one person bidding on three of them. Doesn't leave much for others.

#47

pennybidders
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A lot of things happened last night, some good and some not as good. Found one bug in the payment (paypal works fine, but the cc's don't seem to work). Most people have a paypal account now days but will still get the cc payment fixed.

Also, I have been thinking a lot about how these auctions work and want to change the sites philosophy to make it a more fun and less risky for all involved.

As everyone should know, sites put out a huge risk starting up knowing that they can/will lose a lot of money until people start actively participating and buying bids. A lot of people will sign up to use their free bids and never come back. That is fine, and inherent with the business. What this does lead to, though is a huge turnover in this business. New penny auction sites all the time with sites going under daily. Know body knows who they can trust which further complicates the issue. So I will propose the following changes to my site in order to minimize everyones risk (site and participant).

Please read the entire message before judging or discarding.

First, a reserve will be used on auctions (not all but to start with, most all). A minimum number of bids must be placed in order to win the prize. This is done in an attempt to keep everyone honest.

So the options if the reserve is not met are:
1. All bidders can get back their bids, nothing lost - no risk for the bidder.
OR
2. Any bidder can chose to apply the number of bids used toward the "buy it now" purchase price of the item. The buy it now price will be reasonable (of course it will be more than if you buy it directly from Amazon or walmart, but will only be a few dollars over that).
OR
3. The highest bidder can chose to pay the remaining bids (difference between their highest bid and the reserve) to win the prize. In this case, none of the bidders will receive their bids back (just like any other won auction), however, any of the "not winners (don't like to use loser) can still apply their used bids toward the "buy it now" price.

If the reserve is met on the auction the following apply:
1. The highest bidder wins the prize, just like normal, and all other bidders have the option of applying their used bids to the "buy it now" price if they want to buy the item. This is done in an effort to minimize the losses of those that don't "win" with the highest bid.

These actions will allow for a broader and better selection of prizes. I will be able to put up bigger prizes (HD TVs, game stations, etc) earlier on in the sites history. Also, all bids will go to a standard $0.80 price to make things equitable. All bid packs will cost the same per bid and it will make life easier when determining how much a winner needs to pay in order to meet the minimum. So if you won something yesterday, you will still get your prize and the bids you have in your account will still be valid.

#48

minner79
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So are you guys out of beta testing and all..I followed the site through out the day and it doesnt look like you had anything happening..I have yet to purchase bids but dont think I like the thought of having to meet a reserve if I want to win..The whole point of a PA is ya win some you lose some. I will continue to watch your site but as for now I will pass on buying any bids

#49

bidtildead
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What a joke, are you kidding me, how did the reserves work out, I did not see one auction actually sell yesterday. The reserves for a brand new site are way to high. As far as your reserves are concerned and your new rules they are only protecting one person and that is you. We as bidders understand the risks in bidding on penny auctions sites. I do hope you site does well, but you will not get more bidders to your site by having these limits, nobody is getting a deal, word of mouth will not spread and worse of all you will not be sending out ite,s or selling bid packs because nobody is bidding. Watching the auctions last night was almost laughable. I was fully planning on bidding on the drill but when I saw the reserve set at over two hundred bids I went to bed knowing I would be getting credited my one bid placed back. You gotta take a lose in the beginning and be prepared to do so or you might as well pack up your stuff now. I like the design and potential of your site stick with but the reserves are not the way to go. Plenty of sites are doing very well without them but it was also a tough start for them. Good Luck i'll be watching and when the reserves are gone I'll start bidding again.

#50

suzyq
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Personally, I stay away from sites with reserves. I can understand why you feel it necessary to have reserves and I appreciate you stating what the reserves are. However, I think it will turn off most customers. You have to look at it from a bidder's perspective. Why should I spend 200 bids to drive an item up to the reserve when I know what will happen once that reserve is met? Monsterpennybids will become a jumpers paradise.
I used to be a powerbidder, but now I just make mental bids. That’s how I lost my mind.
suzyq aka cwazywabbit


#51

PAWUSER8
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Personally, I stay away from sites with reserves. I can understand why you feel it necessary to have reserves and I appreciate you stating what the reserves are. However, I think it will turn off most customers. You have to look at it from a bidder's perspective. Why should I spend 200 bids to drive an item up to the reserve when I know what will happen once that reserve is met? Monsterpennybids will become a jumpers paradise.


I have been watching and thought the same thing. But boy Suzyq I never thought of the jumpers. You are so right, the site could be called jumpers heaven.

Also never thought of this, I wonder if the bots will be turned on to help drive up the price. They have this set so they are the only one who will make money.

Why would you bid it up when you can go out and find it on line at Amazon cheaper and they have free super saver delivery.

#52

Chocolate
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ditto to the last three posts. but, lots of luck.

#53

suzyq
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I have been watching and thought the same thing. But boy Suzyq I never thought of the jumpers. You are so right, the site could be called jumpers heaven.

Also never thought of this, I wonder if the bots will be turned on to help drive up the price. They have this set so they are the only one who will make money.

Why would you bid it up when you can go out and find it on line at Amazon cheaper and they have free super saver delivery.


Hi, P8! Haven't seen you around too much...hope all is well with you!

I don't understand why new site owners think that they have to list expensive items to attract customers. In my opinion, they would be better off listing lower cost items and more of them. Instead of listing one $200 item (which they are probably going to lose money on anyway), why not list $10-25 gift cards and/or Paypal cash? Gift cards and Paypal usually do very well and they probably wouldn't be losing as much money in the long run. More people bidding equals more money for the site. Plus they would be able to do away with the reserves....most bidders do not like reserves and will stay away from them.
I used to be a powerbidder, but now I just make mental bids. That’s how I lost my mind.
suzyq aka cwazywabbit


#54

PAWUSER8
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Hi, P8! Haven't seen you around too much...hope all is well with you!

I don't understand why new site owners think that they have to list expensive items to attract customers. In my opinion, they would be better off listing lower cost items and more of them. Instead of listing one $200 item (which they are probably going to lose money on anyway), why not list $10-25 gift cards and/or Paypal cash? Gift cards and Paypal usually do very well and they probably wouldn't be losing as much money in the long run. More people bidding equals more money for the site. Plus they would be able to do away with the reserves....most bidders do not like reserves and will stay away from them.


I am good, I have been out here, just not doing bidding right now.

I saw this and watched the site and like on a previous post I had to just laugh. They really have it set so they won't lose a penny. One of the first things I thought of are how PA's list up to 90 % off. There is 0% off on their site I don't think they will get any body else bidding at this point. And I certainly can't see anyone buying bids.

I agree, with you, if you watch the sites like I have been. They have been doing very well. Even with a $15.00 gift card it gets many bids. Look what Swati did on Bidoction. Although she took a huge hit in the beginning. She really changed things and too much and too many times. Now she list like 8 items a day and the powerbidders are pretty much the only ones left on her site. I think everyone else gave up.

Oh well, I will peep up a bit more.

Take Care,
P8 (I like that thank you)

#55

pennybidders
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I appreciate your feedback, but there never is zero cost to a site. Simply having the site up costs money. The fact that there is a reserve simply protects both sides (bidders as well as site). What good would it do to have bots bid up the price? None of those bids would be of any value and the site would lose money. Besides, the fact that people stay away from reserve sites is all a state of mind. No more risk of losing money than other sites (in fact a better chance of not losing money). If you look at most sites (and as previously stated), sites with no reserves get lots of bids. Most of the time the bids and cost spent on those sites exceed the reserve on my site for any particular item. What you (the bidder) would spend out of pocket would be no different on my site as any other if there were a good bidding base.

The bottom line is that all I here on this forum is how people are tired of getting taken for large amounts of money. Most people claim that every site out there (or most) have some form of bots bidding. I believe the solution is a site like mine. There is no incentive for the site to scam people out of money using bots, since they are not real dollars. You get all of your bids back if reserves aren't met. It is like free bidding (many of you said you enjoyed the beta testing where you were free to bid without risk). This is no different.

I am counting on people wanting to reduce their risk in these auctions and for the person who wouldn't normally participate because it is much akin to gambling on other sites, using my site. Honestly, how many of you have actually won more than you have spent (cumulatively)? I read a lot of posts that don't seem so positive. Those are the people I am using my site for. Those that want to bid and win but don't want to be taken any more.

#56

pennybidders
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Like I posted in my other thread, I am going to put up a couple of non reserve items and see if you guys are all talk.

#57

rpgman1
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Most of us juggle through multiple PA sites anyway and watching two different auctions ending on two different sites is hard enough. So I guess the non-reserve items are $10 - $25 gift cards then?

#58

tgg611
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Any way to bring this site back from the dead.

They have been on quite an extended Labor Day Weekend break.

I assume (and I know what that does) that they are DOA since they no longer respond to emails and such.

Anyone heard a definitive Death Moan???





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