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Introducing www.giftcardsforapenny.com

Started by GiftCardsForAPenny , Aug 18 2010 08:12 PM

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#1

GiftCardsForAPenny
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Hi! I'd like to introduce you to my site: Gift Cards For A Penny

As you can probably tell by the name, we are a penny auction web site that is focused on gift card auctions. We are based in Palm Springs, CA and make the following pledge to all of our users:

  • NO BOTS! None. Ever. We provide an above-board experience for all of our users
  • We list more gift cards than anyone else. We have everything from restaurants, shopping and even online retailers like Amazon and iTunes.
  • We don't believe in excess fees. Our Bid Packs are conveniently priced and all gift card auctions provide FREE SHIPPING
  • You get 10 FREE BIDS just for signing up!

Again, our goal is to provide an above-board experience to all of our users. Any concerns, just email me at: feedback@giftcardsforapenny.com

Follow Us On Twitter: GiftCardsForAPenny (GiftCardsPenny) on Twitter
Follow Us On Facebook: GiftCardsForAPenny.com

#2

GiftCardsForAPenny
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MODS - thanks for the listing!

We're getting very close to our grand opening and wanted to let you all know that we will be launching with more than 50 different gift cards available for auction. If there is a particular gift card that you do not see but would like to bid on, feel free to contact us and we'll see what we can do.

#3

GiftCardsForAPenny
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I wanted to make sure that you were all the first to know that we have now set Sept. 7 as our official grand opening date!

Our management team had a great meeting this week and we've decided to deploy a ground-breaking new feature for users. I really hate to use hyperbole, but it's truly a feature that no other gift card penny auction site has . . . in fact, no other penny auction site has it at all!

Keep on following us on facebook and twitter and visit us at: Gift Cards For A Penny -- penny auctions for gift cards and watch for our grand opening on Sept 7!

Remember, all new users still get 10 free bids just for signing up!

#4

GiftCardsForAPenny
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Our programmers have gone rogue! We decided to initiate a soft-launch today for all of our Penny Auction Watch friends. Check out the site, we're live and you can bid and win: Gift Cards For A Penny -- penny auctions for gift cards

#5

y2p731
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Hello, I was just on your site. It looks very interesting, I'm not going to reveal anything until you officially announce it but it looks very good so far.

#6

kimbers
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Every auction has a reserve of 125% of retail. There is no timer on the front page. On the bid page it does not list who the current bidder is or if my bid was even accepted and am the high bidder.
More importantly, it does not even let you know anywhere if you are even logged in or haw many bids you have.
The format and size looks great as well as the variety. Also it will let you keep bidding even if you are the highest bidder, or is that feature allowed to try to reach the reserve.

#7

spens1960
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Every auction has a reserve of 125% of retail. There is no timer on the front page. On the bid page it does not list who the current bidder is or if my bid was even accepted and am the high bidder.
More importantly, it does not even let you know anywhere if you are even logged in or haw many bids you have.
The format and size looks great as well as the variety. Also it will let you keep bidding even if you are the highest bidder, or is that feature allowed to try to reach the reserve.


Site looks very nice but i need to see who i am bidding against and who is the highest bidder. I really don't get it if you can't see these things that kimber mentioned.

#8

kimbers
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I actually don't mind not seeing who the highest bidder is or who is bidding. Just need to see my bids and if i am the highest. if it is not disclosed who the bidders are to all it will help the site as the powerbidders lose their edge. Plus you may even get two power bidders against each other and they would not even know it.
i prefer these types of auctions. Levels the playing field.

#9

oldschmoop
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If you like watching a clock tick down...not knowing what the reserve price is...just throwing in a bid here and there hoping you might be getting close. Then getting an email saying "Unfortunately this item did not meet the reserve price and the item was not won by anyone. All of your bids have been credited back to your account." Then THIS is the site for YOU! You get your bids back...WOW! Then you get to do it all over again...and then again...and then again...and then again. Where can I go to see the winners and figure out what the reserve price might actually be? Could it be that no one has won anything yet? Truthfully, I'm so sorry I purchased bids here. Actually, some of my bids are missing, so someone must have won something somewhere, but I don't know which auction. You don't find out if you've won or not until you get an email later on. So...even though I've beaten the other bidders, I lose anyway because the reserve wasn't met. What's the reserve? Nobody knows!!!! I think I'd rather go watch paint dry. There's absolutely no excitement, so if you have a bad heart, this could be for you!

#10

kimbers
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Earlier i stated the reserve was 125% of retail. so figure the value and use .45 per bid. They had the reserve posted on the first several auctions. .70 per 25 dollars.
then after the email, you do not see your bids back in there until you bid again and it resets. no where does the site let you know tou are logged in and your balance unless you bid.

#11

oldschmoop
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Sorry. I missed that. Is it possible to see ended auctions on the site? I sure couldn't find them. I emailed them and asked them to explain it all to me, but they couldn't. Not my cup of tea. I'm disappointed because I love bidding on gift cards.

#12

oldschmoop
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I'm almost embarrassed to admit how stupid I am! :redface: I decided I was being too harsh on this site and decided to try again. Here I am on the site, bidding on a $25 gas card... thinking I need to get the item up to the reserve price using kimber's theory. Got it up to 50cents and then realized that somebody will probably jump in now and get the item for just one bid! Duh! Now I'm just praying that 51cents is below the reserve price...which it should be if kimber's reasoning is correct. I don't see how this site will possibly succeed. Nobody is going to want to jump in until the item is close to reserve. Plus...there are tons of cards. I'm thinking they need to reduce the number of cards until there are more bidders on the site.

Just got my email. Nobody got the item, so I got my bids back. Guess I'll just sit on the bids until the site gets more popular...or should I say "if". Gee...can I accumulate interest on those? LOL!

#13

GiftCardsForAPenny
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Please keep in mind that we are still in a soft-launch phase for all of our friends at Penny Auction Watch so we're working through a couple of items.

The reserve is now known to all bidders and all reserves represent a savings value of at least 97% off retail price. You can also clearly now see who you're bidding against.

Also, a lot of you have asked about the need for a reserve. When we started this site we decided that if we couldn't do it completely above-board and provide an honest experience to users, we just wouldn't do it. That means that our site does NOT, or will it EVER, use bots or shill bidders. Quite frankly, if you are on a new site, with little history and few members and no reserve prices, then you are most likely on a bot site.

We appreciate your patience as we grow and appreciate having all of you on board. We're still working with the folks here at PAW to bring you some promos and prizes in the near future.

#14

PAWUSER8
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The reserve is now known to all bidders and all reserves represent a savings value of at least 97% off retail price. You can also clearly now see who you're bidding against.



Really this is not true, here is an example from one of your auctions. You have a 200 dollar gift card with a reserve of 5.25. That means you have had 525 bids at .45 cents a bid for a total of 236.25. You have an amex ex gift card for 25.00 dollars with a reserve of 80 cents. That is 80 bids at .45 cents a bid for a total of 36.00. Again a 11.00 profit on a 25.00 gift card.

Everyone is on here with the hope to get a good deal. And I agree that you get in the business to hopefully make an honest living. However you are really trying to make a profit.

I wish you all the best, but I don't think you will survive with this way of doing business.

Edited by PAWUSER8, 04 September 2010 - 06:25 PM.

Don't lie today and you won't have to worry about what you said yesterday!!

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Taurus Powered!!!!!

#15

GiftCardsForAPenny
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Everyone is on here with the hope to get a good deal. And I agree that you get in the business to hopefully make an honest living. However you are really trying to make a profit.

I wish you all the best, but I don't think you will survive with this way of doing business.


We choose to be optimistic and user are getting good deals: It only takes ONE bid to win. That's why we offer bid packs as low as $5 and we give 10 FREE BIDS for all new users.

Finally, we do not charge any excess fees when you win and all, secured, same-day USPS Priority shipping with Signature Confirmation is included in your winning price. When you compare us to sites that add a ridiculous amount of fees for "processing" and shipping that takes 2 weeks, I think you'll find that we're very competitive.

#16

IceDragon
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No offense but I would rather pay 10.00's for a card with 10.00's for shipping and wait two weeks then pay the full value of the card and then some. You theory about winning with 1 bid is a joke. Unless you have 100's of constant bidders no card will ever meet reserve price. I would clearly rethink your business strategy or YOU will fail.

#17

GiftCardsForAPenny
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Unless you have 100's of constant bidders no card will ever meet reserve price.


That's exactly where we're headed. Again, this is all just a soft launch, today is only our 3rd day of operations. We've been pleased with the results so far and our marketing plan will help us build our user base over the next month and for the rest of 2010. We anticipate reaching a point in the near future where the need for reserve prices will go away.

Again, I want to make sure that you all understand that a legitimate penny auction site is impossible to launch without reserve prices. If there are sites out there claiming that, then they are using bots, plain and simple

#18

PAWUSER8
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Again, I want to make sure that you all understand that a legitimate penny auction site is impossible to launch without reserve prices. If there are sites out there claiming that, then they are using bots, plain and simple


I would like you to understand that you NOT will get to 100's of users with the reserves you have in place.

Legitimate or not! Your reserves are over the retail value and with no one bidding you will not be able to win a card for 1 bid, and if you do have 100's of bidders you still will not be able to win a card for 1 bid.

This is just some of my knowledge from me and fellow bidders and the experience of bidding on PA's for over 2 years.

Also you can't see the won auctions. Have you had one card meet the reserve yet in the 3 days of business? I only see one auction that had one bid.
Don't lie today and you won't have to worry about what you said yesterday!!

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Taurus Powered!!!!!

#19

GiftCardsForAPenny
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Your reserves are over the retail value


We have heard from a variety of users over the past few days and have welcomed their feedback. If you have a suggestion on how to keep a reserve below the retail price, while still being able to provide a high level of service and same-day Priority shipping, then I would welcome your email to: feedback@giftcardsforapenny.com

#20

PAWUSER8
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We have heard from a variety of users over the past few days and have welcomed their feedback. If you have a suggestion on how to keep a reserve below the retail price, while still being able to provide a high level of service and same-day Priority shipping, then I would welcome your email to: feedback@giftcardsforapenny.com



Unfortunately I don't know of a business that has started up out of the gate making a profit. I own my own business and I know we didn't.

The only suggestion I have for you is to let others see the won auctions.


Have you had one card meet the reserve yet in the 3 days of business?
Don't lie today and you won't have to worry about what you said yesterday!!

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Taurus Powered!!!!!




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