Interview with BidSwap.com Latest Penny Auction to Join EAA!

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BidSwap.com is a new penny auction site that launched in November, they feature a Buy it Now option and are the latest site to join the EAA Entertainment Auction Association (pending audit). Our members have received items from BidSwap and report that they ship quick!

Read our interview with the BidSwap team to learn more, and please post your feedback!

Penny Auction Watch: What got you interested in the entertainment shopping industry?

BidSwap: We’ve always been fans of game theory and human behavior, so the first time we saw the PA model we were hooked. All the potential variables that could be infused into the auctions to make them more competitive and enjoyable is something that we find very attractive to building a great site. We’re fascinated by the “entertainment” part of this industry and have created a website where users are guaranteed to have a fun time and win lots of items. We will be rolling out new features on a continued basis, allowing our members to pick and choose what type of auctions they like the most.

Penny Auction Watch: When did BidSwap open?

BidSwap: We had our soft launch in mid November and have been up and running since. We’ve completed over 2,000 auctions already.

Penny Auction Watch: What kind of items do you have lined up? Do your auctions run on a schedule?

BidSwap: We have everything imaginable up for auction. Apple Nanos, iPod Touches, an iPad, Xbox 360 and Wii Consoles, video games, Keurig Coffee Makers, cameras, video recorders, flat screen televisions, Blu-ray players, wine coolers, mp3 speaker systems, netbooks, golf clubs, Kindles, headsets, toys, outdoor equipment, first aid kits, tool sets, home and kitchen items and of course gift cards from $10 to $200. We even create special auctions like our iPod Touch Trifecta where the winner receives a Touch, $50 Apple gift card and 50 Bid Pack.

We run from about 10am to 9pm pacific time with lots of auctions from 6pm until 9pm every night. We have between twenty five to thirty auctions each day right now and will be expanding our lineup continually.

Penny Auction Watch: What are the timer increments between bids and does this vary by auction?

BidSwap: Timer increments vary from 10, 15, 20 to 30 seconds depending on the auction, with most auctions running on 15 or 20 second timers.

Penny Auction Watch: How much are your bids?

BidSwap: Bids are always 60 cents regardless of amount purchased. We want all our customers to be on a level playing field. Our only exception to this is when a new user purchases an initial bid pack. In that case we offer 35 bids at 70 cents each for trial-sized users and 120 bids at 50 cents per bid for more experienced or cost-conscious users.

Penny Auction Watch: What are your shipping costs?

BidSwap: We aim to keep shipping costs reasonable for our members. Costs vary depending on the product size, weight and time involved to process fulfillment. Shipping charges for each item are listed clearly in the Payment and Shipping section of each auction.

Penny Auction Watch: What are your win limits, limits /household?

BidSwap: We’ve instituted win limits so our members have a greater chance at winning, especially now in our early stages where we are focusing on building a user base. Win limits are currently set at eight (8) wins per rolling twenty eight (28) day period. Members may win one (1) gold and 1 silver per 28 day period, included in the 8 total. A second silver may be substituted for the gold. We also have a fifteen (15) bid pack limit per month. Members may win a maximum of three (3) auctions per day and up to 3 bid packs per day. We want every member to be a winner, so we offer beginner auctions eligible to only members who have not previously won an auction. We allow only one account per household.

Penny Auction Watch: Is there a story behind the BidSwap name/theme?

BidSwap: Our name has a lot to do with our future plans for making the site even more entertaining and different. We believe in allowing users lots of flexibility with their wins and want them to eventually take the “swap” concept to heart in all their bidding. In fact, we are already building Version 2 of the site and look forward to rolling that out as soon as possible.

Penny Auction Watch: Is there anything else you’d like to tell us about BidSwap?

BidSwap: We offer Buy It Now on almost every auction, so there is very limited risk in bidding. We have no desire to watch our members walk away empty handed, because that will take all the fun out of the game.

BidSwap believes that our business should be conducted in the most ethical and fair fashion possible, which is why we joined the Entertainment Auction Association (EAA) almost immediately upon its establishment. Our accounting audit is being completed this week and we expect to be full members in early February.

Last of all we take tremendous pride in our customer service. We understand it is impossible to run an entertainment site if our customers are unhappy. We’d like to thank all of the PAW members who have given us such great feedback about our site and customer service in the PAW Forums over the past few months.

Thanks for taking the time to read our interview. We look forward to seeing you over at BidSwap and would like to thank Amanda for all the great work she does at PAW. As a thank you to her and all the great PAW members, for the next week we would like to offer new users 10 free bids with their initial Bid Pack purchase. Use the coupon code: “WelcomePAW”.

Thanks BidSwap!

Discuss & post your review of BidSwap in the forum!

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