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Hi All From BidWealth.com

Started by BidWealth , Jul 19 2011 02:49 PM
penny auction penny auction gold

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#21

BidWealth
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Hi all!
I am glad everyone enjoyed their experience with us last eve.
Had an outright EPIC battle at the end!
I would like to personally apologize to anyone that was put off by our changing our limits...
It was supposed to have been done prior to launch. When I realized it hadn't been I was actually advised NOT to change it.
I'm afraid I simply didn't consider the ramifications, (strategies being undermined), again I apologize and was simply not seeing
all angles in regards to users.
Rest assured nothing like that will ever happen again!
We had some HUGE winners!
Congrats to you ALL
We look forward to serving you well into the futureAttached File  bidwealthlogobig.jpg   43.8KB   2 downloads

#22

dragon ball
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Rats, I received the 5 free bids to bid on BidWealth and use it but won't be able to bid today since most of all the auction is starting around 2pm PST and I will be at work until 5pm. I'm not going to risk putting in auto bid since I did that before coming back from work to see all my bids gone on another site called bid4million which never sent out my won items. Good luck to others and I guess I could only bid on items after work or on the weekends. I hope the site will have auctions around 8pm and items that are higher end not 10 dollar valued ones.

#23

ProtoProtoss
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Sometimes the timers on the front page get stuck on "Going..." every now and then, but other than that all ran pretty well both nights so far. Hopefully it's decided to list some more expensive items at least on occasion, or maybe at least in the $500 range. The smaller bars are cool and all, but I'll probably get bored with those after awhile as some others may too if things stay too repetitive. I know it's a new site and everything, so not expecting a miracle or anything like that, but I'm just saying...

Anyways, for everyone else. I questioned shipping times wondering when items will be shipping and the orders were stated to already have been placed and should be all shipping tomorrow (well today now... 1:30AM here for me). So far so good.
Disclaimer: All of the text stated above is MY own personal opinion... so for those of you who seem to always find something or have something negative to say about anything I seem to type... :lurk5:

You can't control the flock without the fear of the wolf.
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#24

iwontgiveup
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I've yet to try them out. Been steady non-stop with work and just about everything else! Maybe after my camping trip after this long weekend! Good job to everyone winning them bars so far though! Rock on! :)

#25

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All of my wins have been updated with a tracking number via USPS. So far so good! Once I start to see higher priced items ($500+) you will have me here forever.
Disclaimer: All of the text stated above is MY own personal opinion... so for those of you who seem to always find something or have something negative to say about anything I seem to type... :lurk5:

You can't control the flock without the fear of the wolf.
---

#26

dragon ball
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Well, it's Friday night and time to bid. Apparently looks like no auction on the weekend. :o Oh, well. ZZZZZZZZZZZ

#27

ProtoProtoss
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First batch of bullion wins received just moments ago. Definitely legit! Can't wait til next week. Also seen that all the auctions listed are not the only auctions that will be up. I noticed a few random higher dollar items listed on the last day that were not previously listed! Might be smarter to preserve some of that win limit in case of random popup items! ;-)
Disclaimer: All of the text stated above is MY own personal opinion... so for those of you who seem to always find something or have something negative to say about anything I seem to type... :lurk5:

You can't control the flock without the fear of the wolf.
---

#28

824addiction
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Great win on the 1/4 oz protoss! I am with you in that I hope they offer more sizable amounts. So, my question is: you know those people in the auctions from last night? Lol...it didn't seem like they were PA newbies. You weren't lying about the competition on the coins...It was a feeding frenzy! I was amazed at the lengths that some went to on order to win small increments.... was on iPad trying to bid..felt like I was ADD bidding..didn't work out so well. Ha! Did you get the referral bonus? I noticed it was for life...you SO aren't allowed to use those bids against me! It would be poor form! I really appreciate you giving me the heads up on the bid butler nuance...I have never played where you couldn't cancel your auto bid after it started....It definitely saved me some cash!

#29

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Hey Mrs. E! I was actually surprised to see a the 1/4oz coin pop up, as it was never listed at first and it was just a random item thrown on there! Seems the last item of the night always gets ridiculous amounts of attention. One thing you might want to do is go for some of the smaller sized bars. People are so busy aiming the bigger stuff that smaller valuables are going for next to nothing. I snagged a $200+ bar of silver with 2 bids that closed at .03. I think everyone figured that person that I rapid click fought on one auction up to about $2.40+ before it even had 30 minutes left on countdown was going to come back on that one too, but they didn't. Also it was in between two larger items that were being hard targeted so it just kinda slipped through the cracks. Glad though cause it helped make up from that ridiculous battle the other night. X-(.

Yes, I did receive the referral (thank you sooo much for that by the way, and trust I won't forget it!) Knowing how strong of a bidder you are, that should come in extremely handy, haha! Yes I did know MOST (not all) of those bidders from the other night, but you just so happened to bump heads with a few of them that were pretty strong bidders. Clem* is a strong bidder I met a year or so ago on Bidyell back when it was around. She will definitely give you a run for your money. Brui* is also a pretty strong bidder that I know from RockyBid a couple years ago. I don't know those others you were fighting though, as this is my first time ever seeing their names, unless they are some of my direct referrals and used a different name. I have a campaign out on the net trying to attract more bidders so I can keep the site going. I don't want to see them go under. Looking forward to some 100oz bars! ;-p

And you're welcome on the bidbutler notice. I suggested that he put a note by it so people will know, because you can really get screwed if you don't know about it. I couldn't fight for another auction because I had put my entire account up for collateral to win the one that went up to 45.00 and was unable to reset it to take a few off to fight on the other. And had I won the other too, it would have negated the loss of that big one.

Edited by ProtoProtoss, 31 July 2011 - 03:31 AM.

Disclaimer: All of the text stated above is MY own personal opinion... so for those of you who seem to always find something or have something negative to say about anything I seem to type... :lurk5:

You can't control the flock without the fear of the wolf.
---

#30

ProtoProtoss
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Hey BidWealth, looks like you're not the first all precious metals penny auction after all. ;-p

[I use a different name on it btw so people won't find it, lol]

Edited by ProtoProtoss, 31 July 2011 - 07:06 PM.

Disclaimer: All of the text stated above is MY own personal opinion... so for those of you who seem to always find something or have something negative to say about anything I seem to type... :lurk5:

You can't control the flock without the fear of the wolf.
---

#31

realbidtowin
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Proto stop trying to use this forum to market yourself, you are so full of BS. We all know why you are mentioning the $45 auction and all your figticious referals it is to try and scare others off from bidding against you, Fact is to all those newer bidders out there with most bidders (not all) that go real deep on an auction it is likely that they are incredibly vulnerable for some time after as they are gun shy to lose that kind of $$$ again. So do not let those deep auctions scare you away. Some bidders will ride the coat-tails of those wns when in reality they do not have the means to repeat that performance

I also have some advice to Bidwealth, even though you want referrals you should also not allow them to bid on the same auctions otherwise you are opening bidwealth up to some serious collusion senarios both direct and indirect , so referrals should not be allowed to bid on the same auctions if you want to keep a fair playing field. Additionally You should not allow your customers/members to solicit/advertise for referrals becuse then you have no control as to how you business is being marketed, in the past PA's tried letting their members solicit referrals on the net only to have serious backlash becsaue the PA site was being misrepresented, this can ultimatly bring you down. That system might be good for MLM as they all ultimately fail but haveing others embelishing your PA business has no positive outcome, plus it can also bring attention to the authorities, even though you are doing nothing wrong and nothing good ever comes of that.

You also have to consider in this case a bidder is bragging about his "campaign out on the net " this is mentioned soley to scare your customers and make them think that this bidder is raking in the 10% free bids so the illusion they are trying to create is they are unbeatable. Just like the comment made "unless they are some of my direct referrals and used a different name" Again this is to manipulate others into thinking he has a ton of referrals intern FREE BIDS from them. This is gamesmanship and site manipulation no PA needs this so you need to reign this in. The 10% referal bids for life will demolish your business because you will create a few monsters that people believe are receiving these free bids and most will not bid against then thus you will lose bigtime as they will only be winning with free bids.

Edited by realbidtowin, 31 July 2011 - 07:52 PM.

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#32

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Hey BidWealth, looks like you're not the first all precious metals penny auction after all. ;-p

[I use a different name on it btw so people won't find it, lol]


Actually they are the 3rd to my knowledge, but so far bidwealth is the best of the bunch

#33

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Actually they are the 3rd to my knowledge, but so far bidwealth is the best of the bunch

We were aware of a site that popped up about 6 months ago for about a week...
And a site that holds 3 or 4 auctions a day, evidently it has been around for a cpl months... We simply werent aware it even existed...
At a cpl auctions a few days a week... It seems like it is someone's hobby.
We, on the other hand are a committed PA.
In regard to the referral bonus...
We are monitoring possible misuse as well as marketing practices and will revisit if necessary
Glad everyone enjoys the site thus far...
We are expanding offerings and values as able
Attached File  bidwealthlogobig.jpg   43.8KB   2 downloads

#34

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Proto stop trying to use this forum to market yourself, you are so full of BS. We all know why you are mentioning the $45 auction and all your figticious referals it is to try and scare others off from bidding against you, Fact is to all those newer bidders out there with most bidders (not all) that go real deep on an auction it is likely that they are incredibly vulnerable for some time after as they are gun shy to lose that kind of $$$ again. So do not let those deep auctions scare you away. Some bidders will ride the coat-tails of those wns when in reality they do not have the means to repeat that performance


Yep! And I guess the wheels just fell of my wagon, thanks! And just because YOU run a little business and know that I'm poor, everybody else doesn't need to know that, roflmao! Yes I am poor, I catch my water from the sky and have to filter it to drink, and I generally collect cans and things to turn in so that I may afford one decent meal at the end of each week. Is that wrong? And for the record, I did not mention anything about how many bids were put up on that one that went to 45. I simply mentioned that one so that she would know exactly what I was talking about. Our conversation was about bidbutler not allowing you to take your bids off of it. Had I not mentioned the 45 she would not have seen the severity of the issue and how it screwed me. But I DO appreciate your opinion.

Maybe I should be more careful in how I word things. Not trying to scare anyone off as that would be counterproductive. The people whom want to fight for something are going to fight for it regardless. I look at you as a friend from RB long ago, but we STILL clash on nice items from time to time, so it's no different.

...referrals you should also not allow them to bid on the same auctions otherwise you are opening bidwealth up to some serious collusion senarios both direct and indirect , so referrals should not be allowed to bid on the same auctions if you want to keep a fair playing field. Additionally You should not allow your customers/members to solicit/advertise for referrals becuse then you have no control as to how you business is being marketed, in the past PA's tried letting their members solicit referrals on the net only to have serious backlash becsaue the PA site was being misrepresented, this can ultimatly bring you down. That system might be good for MLM as they all ultimately fail but haveing others embelishing your PA business has no positive outcome, plus it can also bring attention to the authorities, even though you are doing nothing wrong and nothing good ever comes of that.

You also have to consider in this case a bidder is bragging about his "campaign out on the net " this is mentioned soley to scare your customers and make them think that this bidder is raking in the 10% free bids so the illusion they are trying to create is they are unbeatable. Just like the comment made "unless they are some of my direct referrals and used a different name" Again this is to manipulate others into thinking he has a ton of referrals intern FREE BIDS from them. This is gamesmanship and site manipulation no PA needs this so you need to reign this in. The 10% referal bids for life will demolish your business because you will create a few monsters that people believe are receiving these free bids and most will not bid against then thus you will lose bigtime as they will only be winning with free bids.


I think any user should be able to bid on anything they want, as referrals have nothing to do with collusion. There are means for EVERYONE on this forum to contact each other simply by looking up the person's username, as most have an email directly associated to it, so for that I can't agree. If people want to collude, there are plenty of options for them to do so and it is virtually impossible to stop.

10% referrals will not destroy his business, as they are motivation to pull new users into the site. You are complaining about me when you have single-handedly driven a sites into the ground by bullying everyone on the most expensive items of the sites to a point where nobody would bid against you because they just simply could not afford to. Others of us don't have the kind of financial backing you do so we play the game the best way we can.

And as far as those other sites that went down due to misrepresentation, they were advertising in a way that basically promised people they would win for next to nothing, etc. to where people believed it, bought into it, and seen it didn't work.

Actually they are the 3rd to my knowledge, but so far bidwealth is the best of the bunch


Nice... The other I found I actually see one familiar name on, and I'm thinking he/she found bw afterwards looking for the same type of things. Is the 3rd one you mentioned still around or are they gone?


And for those whom were misled by what I said previously. No I was NOT trying to scare anyone from anything. I was just typing like I was talking to that person directly... didn't think about it as everyone would read it, lol. My apologies.

Edited by ProtoProtoss, 31 July 2011 - 08:37 PM.

Disclaimer: All of the text stated above is MY own personal opinion... so for those of you who seem to always find something or have something negative to say about anything I seem to type... :lurk5:

You can't control the flock without the fear of the wolf.
---

#35

ProtoProtoss
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And a site that holds 3 or 4 auctions a day, evidently it has been around for a cpl months... We simply werent aware it even existed...
At a cpl auctions a few days a week... It seems like it is someone's hobby.


Yes, that's the one.

As for the other arguments at hand, one thing I'd strongly suggest you do is setup a limitation based upon the amount an auction is worth. Like for example:

current:
7 per week / 15 per month

maybe something like
7 per week / 15 per month
1 item over $500 per week / 3 items over $500 per month

Just a thought. I know that works wonders for DealDash and keeps people knowing that eventually they can get something really expensive as well.

Edited by ProtoProtoss, 31 July 2011 - 09:15 PM.

Disclaimer: All of the text stated above is MY own personal opinion... so for those of you who seem to always find something or have something negative to say about anything I seem to type... :lurk5:

You can't control the flock without the fear of the wolf.
---

#36

ProtoProtoss
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Hey B2W, when RB went down... did they ever refund all your remaining bids? I know it's kinda late to inquire but some people I'd spoken to brought it up the other day that they never received theirs and could not make contact, but it was past the point where they could chargeback.
Disclaimer: All of the text stated above is MY own personal opinion... so for those of you who seem to always find something or have something negative to say about anything I seem to type... :lurk5:

You can't control the flock without the fear of the wolf.
---

#37

realbidtowin
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Yes, that's the one.

As for the other arguments at hand, one thing I'd strongly suggest you do is setup a limitation based upon the amount an auction is worth. Like for example:

current:
7 per week / 15 per month

maybe something like
7 per week / 15 per month
1 item over $500 per week / 3 items over $500 per month

Just a thought. I know that works wonders for DealDash and keeps people knowing that eventually they can get something really expensive as well.


Those are too liberal at the same time I posted above before I was accused of being the big bad PB i emailed this to Bidwealth:

We recently discussed your limits changethat was about the timing. Clearly I did quite well last week with the loosenedlimits however I think you really need to tighten the limits up. Well knownbidders like me when given the chance will take what we can get and I prefer tobid on higher end product and with limits this loose your high end auctionswill all be dominated by the known powerbidders thus reducing your profitsbecause at least 50% of your current bidders know who the powerbidders are andwill not bid against them.


Another thing to consider with your limitsis the 15 per month you should consider only weekly limits because bidders willnot invest in extra bids if they know they will be out of the game for twoweeks and you want to limit residual bidding by having a limit where bidders canbid for two weeks and then have to sit for two may drive them away or they willpossibly find another site to spend their money on. Simple weekly limits keepthem coming back week after week as well as keeps your cash flow going as theyare willing to buy bids in advance of auctions knowing they will not sit for anextended time. One other issue with your current limits is say 2-3 powerbidderscan totally control all your mid to high end auction and that will drive yournew customers away.


So here is what I suggest for limits


4-5 per week
1 @ $500 +
1 @ $200 +


And the limit should be a running 7 daylimit.




One other piece of advice is reconsideryour bid prices you are one of the highest in the PA industry. The issue withhigh bid cost is new and mid-level bidders who most often buy small bid packswill not pay those high prices and those customers are key to your business.The most popular slot machines in Vegas are the nickel & dime slots. Withreal high bid prices like yours you are alienating a lot of people. I have seenthis over and over bidders are more likely to spent 100 $0.50 bids then 50$1.00 bids.


$0.50 seems to be the sweet spot in the PAindustry.

So as you can see most of this advice clearly does not benefit me however it will all help Bidwealth and creat more winners thus creating more residual revenue.



Hey B2W, when RB went down... did they ever refund all your remaining bids? I know it's kinda late to inquire but some people I'd spoken to brought it up the other day that they never received theirs and could not make contact, but it was past the point where they could chargeback.


I saw the writing on the wall about 2 month before the shut down all the mid to big auction dissapeared it was all junk so I exhasted all my bids. I had direct access to Ben so I got everything or traded. So I had quit intime . You know Ben Grossman simply shut down Rockybid screwing alot of people and has opened a new site.

Edited by realbidtowin, 31 July 2011 - 10:48 PM.


#38

ProtoProtoss
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I saw the writing on the wall about 2 month before the shut down all the mid to big auction dissapeared it was all junk so I exhasted all my bids. I had direct access to Ben so I got everything or traded. So I had quit intime . You know Ben Grossman simply shut down Rockybid screwing alot of people and has opened a new site.


Woah, no I did not know that and was completely unaware of that.

Remember that 1oz gold bar I fought for that was my very last auction there? Well during the end of the auction I went to check the balance of my account and noticed that those packs only charged me $1.00 each for the biggest packs that were offered. I was like WTF!? and contacted support immediately and requested they freeze the site and do an audit on the last week's auctions. I had a feeling something was wrong on that auction because previously not that many were THAT into gold/silver other than a few of us, but all of a sudden some of those bidders whom never bid that hard before on anything else took interest on that auction. I called them, emailed, etc. and nobody would answer or respond to me. Finally one of the support people emailed me back about the issue and told me that I was under investigation for it. I'm like wtf!? I EMAILED AND CALLED YOU OVER 10 TIMES! and they claimed their are no records in the logs. I'm like how in the hell can you tell me what's not in the logs when you don't even know what number I called from nor even my regular number? I'm like yeah, I hacked your server and then just emailed and called you to tell you. Smart. Hell, I didn't even know about it until AFTER the auction, in which I sent them a copy of my bank statement to prove it.

After that they stated that "I" hacked their server and changed the amount, which makes no sense because the merchant they had, everything was encrypted to the URL specifically, used a SSL server, etc. etc. which would have required a lot of work which I had absolutely no interest in doing anyway. Why would I even bother attacking a site that I do well on, people know me, and that I actually gave so much credit to? Makes no sense. But anyways, after all that was said and done they threatened to prosecute me for hacking their server and causing the issue. I told them good luck and I look forward to seeing them in court, and also mentioned that I have full logs of everything I'd sent them and that I was more than willing to make the whole issue public if need be. They never responded again, but disabled my account. I emailed them a few weeks later stating that I would like a new house and that I was anxious for them to take me to court because I wanted to take a trip to another country and could use the money. They then stated that MULTIPLE people took advantage of that issue, and admitted that I as nowhere near the first to do so, but I was the only one that truly abused it. I responded requesting proof and logs from all the bought purchases, etc. but they never responded to any of my messages or calls again. A few weeks or so later, I went to the site and it was one of those pages that says gone or now or whatever.

Oh, forgot to add. All of my emails were back and forth with support, they would not put me in touch with anyone on a higher level. So in the end everyone whom bought bids towards the end of their days got them extremely cheap and nothing was done about it. Possibly why they shut down so they could get out of shipping anything to anyone. Not sure how long the problem had lasted, but it had to be for weeks because the activity got REALLY heavy around that time and things just were hitting record prices.

Edited by ProtoProtoss, 31 July 2011 - 11:27 PM.

Disclaimer: All of the text stated above is MY own personal opinion... so for those of you who seem to always find something or have something negative to say about anything I seem to type... :lurk5:

You can't control the flock without the fear of the wolf.
---

#39

realbidtowin
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Bens new site is zbiddy.com It has been around a while. I do not trust Ben and I am 95% convinced he was shilling on RB.

#40

ProtoProtoss
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Hey BidWealth,

Any chance you might be able to add in some stacker bars eventually? I'm referring to some like these:

Scottsdale Silver & Gold LLC

They are molded and cut with grooves that allow stacking for better storage. I have some from the past and it's saved me a lot of space and time by not having to apply extra measures to keep them organized and they are much less likely to disassemble when moved.

Edited by ProtoProtoss, 01 August 2011 - 12:11 PM.

Disclaimer: All of the text stated above is MY own personal opinion... so for those of you who seem to always find something or have something negative to say about anything I seem to type... :lurk5:

You can't control the flock without the fear of the wolf.
---





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