Penny Auction

30 Oct

Penny auction is an auction in which bidders have to purchase bids, before you can bid. The bids are not free and bidders pay per bid for an item and each time the price increase by a penny with each bid. The winning bidder is the one whoever is the last to bid when the timer counts down to zero and had bid the highest. These auctions are often called entertainment auctions as well.

There are many penny auction websites. Most of them auction out used stuff- with few exceptional ones’ that auctions only new items. The range of items that you can bid on penny auctions are cars, gift cards, vacation packages, concert tickets or popular DVDs and iPods virtually all kinds of latest gadgetry. There are hoards and hoards of virtual currency involved in these sites. This currency consists of bundles called bids or bid packages. They are kind of chips you buy them with cash to play poker. The items listed for auctions are often provided by the operators.

These sites are often referred to as entertainment auctions – a fragile tie to online gaming. It is very tempting – if your unusually low bid wins, you get a high value item really cheap. The popularity of these penny auctions prove that the business model has the capability of producing sizeable profits. The operators make good money based on the sale of bid packages and also from the bidding war for an item. Whether a site calls themselves entertainment auctions or penny auctions, they are all the same in the way they work. They have no minimum bid, but have an increment of a penny but charge the bidders for each and every bid they make on an item. But you have the chance to walk away with high priced items for few dollars or sometimes even fractions of a dollar.

The Penny auctions are sort of gambling nature in their set-up, but they are not illegal. As these sites are not based on the game of chance but a game of bidding wars on actual items, these auctions are legal. But it is good to check the legitimacy. It can be done by looking at its traffic. If a site has plenty of items for bid and as much bidding activity going on; that is the number of visitors match the number of bids, it proves the Penny auctions trustworthiness and helps in minimizing the risk of being the target of a scam.

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BidCactus Review

30 Oct

Being very honest about this site in this Bidcactus Review, there is a lot to share; some good and some not so good things about this penny auction site. In the first part of the review something positive will be highlighted, in the second something really negative followed by some recommendations. First, a few facts about this site. Bidcactus calls itself an entertainment auction site in which you can win a maximum of 3 items per bidder in a day. You buy bidpacks of 25 to 500 with each bid costing 0.75 cents. Every time you bid 0.75 cent is deducted from your bidpack. It is a penny auction site that means with every bid the price of the item rises by 0.01 cent, or for some items, the price rises by 0.10 cents.

This review of Bidcactus takes you through some revelations that there have been many people who keep going to the site. Some because they have won and want to continue taking the a chance; some who are addicted to gambling, who love the excitement and know that like most gambling, it must be your lucky day to win; quite a few to test the site and see whether it is a scam or not. Most of the winners have gotten gift cards, worth $50 or more, a few have won digital cameras, TVs, blenders… So there is a chance to win items at low prices, much lower than the retail price.

Looking at the down side of winning the bid on penny auction is that some of the winners are still awaiting the delivery of the goods, which are supposed to be delivered within a week by paying the additional shipping cost. Most have received the consignment and are happy with it. Bidcactus can try to be transparent to reveal, that they are making enough money through high rated bid-packs and equally high number of visitors, there should not be any such shady deals in the site. They could show their archives like other entertainment auction sites to rule out the suspicion. The recommendation is explore the site; bid, when the number of bidders are less, that is evening time and bid on small bids, instead of the biggest to increase the chance of winning and finally, since it is a blend of gambling and entertainment, it is okay to pay for having a thrilling day.

Bidcactus Legit – Is It The Real Deal?

30 Oct

In the virtual world where everything seems quite real, Bidcactus is the talk of this world. It is the latest,coolest entertainment auction site. This is where real things are happening and if you love to gamble, this is where you get to do it. You gamble with bids to win bidpacks or items out in the auction. Lots of money is changing hands; a few pennies at a time from various sources adding to the pool. It is kind of an online casino. Pay real money to buy unreal packages of bids, then you start bidding. The site is addictive and very difficult to step out of it as the chance factor and the challenge factor to outbid others takes hold of people. This is a great penny auction site to explore and win on.

Bidcautus is one auction site that has tried to follow the established rules and principles of legality by hiring an auditing team, Ernst & Young; one of the top accounting firms to audit their business and operation processes. Hence it is unique, as no other penny auction site gets an audit done by an independent third party. They have also been accredited by the Better Business Bureau. The BBB had listed 19 complaints about the functioning of Bidcactus of which 13 were resolved and 6 were administratively closed. They have an Alexa ranking of 64691. So it can be said that this is the real deal. Not just that, if you check the traffic and the auction activity, it actually matches very well. There are many who have bid on this penny auction site and won.

Bidcactus has been around for some time and there is plenty of activity going on. Since it is a penny auction site, people are drawn to it. The greater the number of people, the longer the bidding and it gets more and more exciting. If you are willing to shell out approximately 20 dollars for the lowest bid-pack, to have a thrilling, pulsating time, it is an awesome place to be. Along with experiencing several ups and downs, you have a chance to win something from the auction. You have entertaining auction time and the item if you are lucky. In the end it depends on the number of bids you make to win yourself; if you are able to outsmart others with speed and timing, you get a very good deal.

BidCactus – What Is It ?

30 Oct

BidCactus is wonderful online auction site. It is a site where entertainment and a bit of gambling merge and increase your pulse rate. You play and pay to bid on the penny auction items for the whole day and win some of the coolest stuff. So pick an auction from the variety of exciting items – all of them are new but there is no goofy stuff to bid on. This is one site where customers can vote for the items they want to get listed for auction. You can check on the home page for the popular commercial items for upcoming auctions as well. If you are looking for some real fun moments while you are alone, this is a great choice.

BidCactus is an online auction site like many in the market but with a difference. It is one site where you can win brand new items, the latest – as only new items get listed here. This is the trendiest of all the auction sites that have been launched recently and it is already one of the most popular. It is a unique platform for online bidding where there are no annual charges. It is a site where you have to acquire bid credits. There are bid packages that you can to buy ranging from $18.75 dollars to $375 dollars. Every bid opens with a cent or 10 cents depending on the item – hence it is a regular penny auction site.

How much does it cost? The BidCactus account is free. In order to bid on this penny auction, you have to buy bid credits that are available in bidpacks starting from 30 to 500. Bidding costs money; for every bid you have to pay 75 cents. Once you place a bid the amount is deducted from your bidpack and considered used and the auction price will increase by a penny for penny auction or by 10 cents.

In BidCactus all the auctions have a life span of about 4 hours. Each item has a countdown timer attached to it. It shows how much longer the auction will be open. When the clock nears zero each bid adds 20-30 seconds back to clock to allow bidders to respond. If you are the final highest bidder when the clock runs out, you win and the item is yours; but only the most recent bidder is displayed, not the highest bidder. Given a page full of timers, each updating once a second, the tension is pulsating. It is one entertaining penny auction.