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Started by PennyAuctionWatch , Oct 15 2009 05:02 AM
biddango new penny auction

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#21

cporlando
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There is a 50 bid pack, Nintendo Wii, Disney Ticket, and iTunes gift card on auction and set to end at 11:30am EST and 12pm EST. Biddango puts reserves on the items, but the cool thing is that all of your bids are fully refunded if it doesn't hit the reserve, and if it DOES hit the reserve, only those users that bid before the reserve was met will be allowed to continue to bid.

#22

cporlando
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Also, if you want real-time updates about what's going on at Biddango and also start conversations with other bidders about penny auction sites, you can join us on Facebook and Twitter!

Twitter: http://www.twitter.com/biddango

Facebook: http://www.facebook....go/132860684919

Once we get 25 fans, we'll be able to get a better looking url for the Facebook page.

#23

suzyq
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  • We are also going to do something no other sight does. We will have a small reserve price on each auction of 2% to 3% of the price of the item. If the auction ends and the reserve has not been met, then we will refund all of the bids you placed on that auction.


Roderic -- Could you please explain this a little further? When you say 2-3% does that mean the cost of the bids or just the price that the item has been bid up to, or both? Also, am I correct in saying that once that reserve price is met, the auction will be closed to all other bidders?

#24

Biddango
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Roderic -- Could you please explain this a little further? When you say 2-3% does that mean the cost of the bids or just the price that the item has been bid up to, or both? Also, am I correct in saying that once that reserve price is met, the auction will be closed to all other bidders?

Hi Suzy, Yes, let me explain. There will be a small reserve for items $50 and up. I overstated the 2-3%, and am actually using a little less than 1.5%. For example, if you take the $50 iTunes card, and calculate 1.5% it comes to 75 cents, and the reserve for that item was set at a little less than 70 cents. Once that price has been hit (i.e. 67 cents or whatever), then the bidding will be closed to new bidders. So, it is sort of like having to buy a seat for the auction.

Now, if the auction ends and the reserve has not been met, then you will receive all of the bids back that you used on that auction. That will happen immediately so you can use them in another auction.

I hope that answers your question, Suzy.

Thanks,

Roderic
Biddango
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#25

monikab
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is it just me or is the timer stopped well actually kind of very sluggish

monika

#26

angelducky
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is it just me or is the timer stopped well actually kind of very sluggish

monika


Seems to be running fine for me. I'm watching hte bid pack auction

#27

Biddango
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is it just me or is the timer stopped well actually kind of very sluggish

monika

I saw that too... .not sure what happened. I'll check with my programmer and see if he noticed anything.
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#28

monikab
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the auctionprice on the bottom does not refresh for me !! i have to refresh the page .

monika

#29

suzyq
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Anyone else freeze up or was it just me?

#30

realbidtowin
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35 bids placed on a 50 bid pack and it did not meet the reserve? cmon that is rediculas. How do they plan for anyone to win anything in ther early stages

#31

bidn1
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ok, I'm going to have to start using a different computer if I'm going to do auctions. This one's too sensitive. I was getting ready to bid on the bid pack and I ended up switching views, by the time I got back to the bid button - too late. :( oh well.
probably saved my bids - all you auction gurus are there ;)

#32

suzyq
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Mine stopped at 8 or 9 seconds and said "ended" -- didn't get a chance to place another bid.

#33

angelducky
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35 bids placed on a 50 bid pack and it did not meet the reserve? cmon that is rediculas. How do they plan for anyone to win anything in ther early stages


I was thinking the exact same thing. If they're looking for 1.5% or so, the price would have had to get to like 56c or something.

#34

monikab
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suzy same thing here

monika

#35

Biddango
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35 bids placed on a 50 bid pack and it did not meet the reserve? cmon that is rediculas. How do they plan for anyone to win anything in ther early stages

You're right. Although the reserve was almost hit. But still, I get the point. I'll remove the reserve on the next few bid packs.
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#36

realbidtowin
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So I guess the only possible way for me to win is let you all bid it up 1st and then jumpo in in the end. this reserve will be bad

#37

Biddango
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Ok, everyone. I added another bid pack to the current auction, and there is no reserve.

Let's try this again. :-)
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#38

angelducky
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So I guess the only possible way for me to win is let you all bid it up 1st and then jumpo in in the end. this reserve will be bad


I think that's why they close it to new bidders when teh reserve is hit. But you could still calculate around where you think it would hit and start bidding just below that I guess.

At least it's registering bids quickly. More than some other sites :) Not sure I like reserve systems but we'll see.

#39

suzyq
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Hi Suzy, Yes, let me explain. There will be a small reserve for items $50 and up.


I thought the bid pack was worth $37.50 (under $50) so there would be no reserve.

#40

realbidtowin
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The autobidder does not update as the auction goes on, and there is no way of deleting it. I did not want the card I was just trying to get it high enough (above the reserve for one of the other PAW folks to win and now I cannot delete it





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