HogWildBids.com is a new penny auction site, so new that they have not yet been assigned an Alexa or WebsiteOutlook.com traffic ranking. The domain was purchased on December 15th, yet they have queued a brand new Chevrolet Malibu LTZ set to sell this week. The Malibu has a stated MSRP of $28,979.89.
That’s not all, according to Hog Wild Bids’ Manta.com profile they’re planning on selling semis too, yep – semi trucks:
“We are a new Penny Auction site. We are dedicated to provide our customers with the best deal possible. Items for sale are, New Cars, Semi trucks, TV’s, DVD players, home theater systems, trips, gps, home appliances, gift cards, some auctions even have a cash option.”
HogWildBids has an interesting membership plan, take a look:
“Membership Options
| Free member | Gold Member | Platinum member | |
| Free shipping | NO | NO | YES |
| Bid returned for won auctions | 0 | Up to 250 bids returned for won auctions. Up to 5 auctions per month | Up to 1000 bid returned for unlimited won auctions per month |
| Cash option | NO | NO | YES* |
| Free | 39.95 per year | 79.95 per year |
So if you pay them $79.95/year you’ll get your bids back?
For a new site they have many high-ticket items: Flat screen TV’s, a $400 Best Buy gift card, $800 Visa gift card!, a GPS, iPad, xBox, iPods and more. It looks like they do have reserves on some items (according to their FAQs) if the reserve is not met they state that bids will be returned.
Have you bid on HogWildBids.com? Please let us know what your experiences have been!
Discuss and review penny auctions in our penny auction forum!
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Steve February 16, 2011, 4:39 pm
I am having a hard time understanding from a profit perspective how this new site could possibly make money on their car & semi auctions. I think the car has a much better chance than the semi because 95% of the country would not even want a semi. Just to break even on the car they would need nearly 3 million bids since its a 1 cent increment auction. I understand trying to use this auction for marketing and to make a big splash at launch but you just better have the cash reserves to handle it.
Jeff October 19, 2011, 8:36 pm
I think you’re missing the entire aspect as to what makes penny auctions profitable.
in the example of the car, lets say, for instance, the bid points are $1 each. in order to “break even”, the auto would only have to sell for 28,980 bids, or $289.80: remember, each bid equals only one cent, therefore, 29000 bids = $290.00 final price.(actually less than that if you consider the final selling price of the auto.)
the exact point you’re missing is that each and every bid you place costs you not only a penny, but the cost of each individual “bid point” as well.
I hope this clarifies things for you
Jeff
pennyammo.com LLC