Alot is said about penny auctions but I heard about this new penny auction site: Crush The Bid (www.crushthebid.com) which is launching June 1.
Here is what they claim. Is this possible? If so, it seems that it changes everything.
Why Crush The Bid Penny Auctions?
At Crush The Bid, You'd be playing in a “real” penny auction site that was designed to be fairer, more exciting and more consumer-centric.
Actual Penny Bids: Each bid is only $.01 (1 penny) so when you bid a penny it's really a penny. A penny is a penny is a penny.
Max Players / All Locked Auctions: Each auction has a maximum number of players that can play so You know "before" the auction starts how many players You are up against.
Player Identifier: You see every player's location and unique screen name so You know who You're playing against.
Flash Auctions: Auctions are short so You won't experience long bouts of bid fatigue and You'll be able to focus more on strategy rather than trying to stay awake or walking away from an auction in the middle and missing You're buy opportunity;
Cash Redemption: You can immediately redeem You're Won Auction Items for cash right back into You're account so You can get back into playing, not waiting.
Loser Refunds: Although the Seat Bids (the entrance fee) are non-refundable, after every auction, if You did not win, You'll see a refund of the Auction Bids that You played during the auction.
Crush Referral System: Get paid on 3 level deep referrals. You can actually build a business out of penny auction referrals.
No Bots: They does not employ, use or allow any automated or robotic bidding.
No Reserve Pricing: Auctions start at $0.00 and wherever an auction ends is where it ends. Even if it's only $.01 (1 penny);
No Snipers: Auctions are “locked” from the start. No-one can enter after the auction begins.
No Shills: They don’t not employ any person or mechanism to bid against players. Every player in an auction is an independent participant;
No Manipulation: Since there are no bots, no reserve pricing, no snipers and no shills, there isn’t any pre-conceived, planned or controlled manipulation;
No Bid Fatigue: Auctions last only 5 minutes, so You're not sitting there hour-after-hour staring at an auction that doesn't end for you until You've run out of money or are completely exhausted.