Playing Penny Auction Trends

Penny Auction Trends

Online Auction Trends

Online auctions have grown in popularity since eBay was founded in 1995. While eBay has become a household name and other traditional auction houses, including giants Sotheby’s and Christie’s have joined the party, perhaps the most exciting space in online auctions is penny auctions. The prospect of saving money is certainly a primary objective for consumers who participate in any online auction. Entertainment is an equally strong motivation for many online auction participants. For these individuals, penny auctions offer highly competitive, fast-paced live auctions around the clock that are uber entertaining.

Like all industries, market demand determines winners and losers. While quite a few penny auctions that have come and gone – most notably– Beezid (you may remember this is the company that paid $25,000 for Lindsey Lohan’s 14-second YouTube ad while she was under house arrest), two mainstays, DealDash and QuiBids are the undeniable penny auction leaders. Both companies have been around since 2009, have loyal customer bases, and appear to be sound companies. For years QuiBids was the largest penny auction site until 2016, when DealDash overtook QuiBids in the United States.

How Do Penny Auctions Work?

Unlike, traditional auctions, penny auctions are pay-to-play, meaning that users need to purchase bids ahead of time then use one bid for every new bid placed. All penny auctions start at $0 and there is an auction counter that lets all players know when the auction is scheduled to close. Every bid a user places subtracts one bid from his/her balance and increases the price of the auction one penny. In a penny auction, once the auction timer reaches 10 seconds remaining, every bid will reset the timer 10 seconds. Each player must then decide in this short 10 second window whether to place a new bid to outbid the previous high bidder. If no new bids are placed, the final bidder wins the penny auction at the final sales price. Sounds easy, but it’s not.

Winning on DealDash and QuiBids

Both websites have two features designed to prevent a user from leaving empty-handed. A Buy-It-Now option allows bidders who do not win an auction to purchase the item outright and get all their bids back! Essentially, the user gets the item for the listed price and all bids spent in that auction are returned to the user’s account. Terms vary, so check out the links describing how the DealDash Buy-It-Now and QuiBids Buy-It-Now work.

The bottom line is that if you want to win more auctions on DealDash and QuiBids, you’ll need to thoroughly educate yourself on the nuances of each site, the products being auctioned, and knowing your competition (i.e., the other players). It may sound cliché, but a little homework goes a long way towards winning more auctions.

DealDash | Buy-It-Now Program

DealDash.com | Buy-It-Now Program directions

Another cool program designed to reassure new players, is a guarantee to win program. Like the Buy-It-Now feature, the guarantee to win terms do vary by site. Again, it’s best to take a look for yourself at DealDash Guarantee and QuiBids Guarantee.

QuiBids | Guaranteed Win Program

QuiBids | Guaranteed Win Program

Caveat Emptor

When it comes to playing online penny auctions, I’d like to offer a caveat. Most penny auctions players will experience a full spectrum of emotions, ranging from absolute joy and exhilaration after winning to utter disappointment after just missing out. While these emotions may be felt after winning/losing a traditional auction, these feelings are much more pronounced in penny auctions – in my opinion. Perhaps the tagline from ABC’s Wide World of Sports sums it up best: The thrill of victory and the agony of defeat!

Stay tuned, in our next blog post we’ll get into the product-mix offered by DealDash and QuiBids, respectively. Product-mix is probably the most important factor when deciding which online penny auction site to play.

Happy Bidding Fellow Bid-Ninjas!

QuiBids Reviews are Plentiful, But if You Want a Real Review with Real Info, Look Here

There are a lot of new people looking for a review of QuiBids as they are on the upswing with a ton of growth and new users arriving daily.  The public penny auction stats Bid-Ninja shows for QuiBids (along with the other biggest names in penny auctions) has seen a tremendous amount of new incoming data.  Our leaderboard is constantly changing and there are so many auctions with new names showing as the winner.  Compare this to QuiBids where it seems that there are just a handful of the same winners lately and the choice of where to spend your money on bids is clear.

With this huge influx of bidders and new interest, a lot of people are looking for a review of QuiBids because they want to be sure that it’s not a scam and/or if they’ll actually be able to win some of the auctions for the low prices they see in the advertisements for QuiBids like the one below.

We here at Bid-Ninja pride ourselves on being able to help the penny auction players of the world win more auctions by bringing the best information to them (and we’ve been doing so for years).  There is no site or person out there with more data on penny auctions than us, and we can tell you unequivocally that QuiBids is one of the very best sites to play on and you really can win auctions for name brand goods & electronics for pennies on the dollar…but don’t expect it to happen every time and without a little practice.

We are constantly getting tickets & emails from new users asking us if QuiBids (along with QuiBids, MadBid, the now defunct Beezid, etc) are legitimate.  They of course are, however there are a few things you need to make sure you don’t do if you’re a newcomer to the “penny auction” scene, such as:

  • Think You’ll Win Every Time

    While playing on QuiBids is fun and exciting (as it should be), you have to be prepared to lose some auctions…but that’s part of the fun too!  Don’t let a loss make you think you can’t win or that it’s some kind of elaborate setup.

  • Bid On Too Many Auctions with Too Few Bids

    A lot of people make the mistake of placing one or two bids on one auction, don’t win and then instead of sticking it out on that auction bounce over to another auction, place one or two bids without winning and then once again run off to another…and continue to repeat this cycle.  This is effectively giving away your bids.  To win on QuiBids or any of the other penny auction sites, you’ll need to stick it out for the long haul.  Part of winning means showing your opponents that you’re not going to give up!

  • This isn’t just a shameless plug for Bid-Ninja…you really do need to know who you’re playing against and what type of bidder they are.  If you’re in an auction against 10 people who have all won a thousand auctions each and you just showed up to place that first shiny bid of yours, you can bet your bottom dollar (or penny) that they know that and they’re going to be trying to intimidate you.  If you’re just starting out make sure you know who you’re playing against and try to pick appropriate auctions.

  • Lose an Auction and Quit

    We see this constantly…people arrive at QuiBids, buy the smallest available bid pack, pick an auction and bid their heart out and lose…then quit QuiBids and penny auction playing altogether.  If that’s all your budget allows for doing, then it’s probably best to keep on moving.  Winning is a numbers game and you’ll absolutely have to play on multiple auctions to not only get the hang of it, but to win an auction.  Losing one single auction and then quitting altogether doesn’t make QuiBids or any other site a scam, you simply didn’t play enough!

QuiBids Wall of Auctions

So yes, our “review” of QuiBids is really simple…they are one of the top notch penny auction sites to play on.  They have a huge selection, a very loyal following of users, great customer service, fast delivery and so on.  There isn’t really anything negative we have to say about them.  Most of the “bad reviews” you’ll find for QuiBids have to do with users who were making one of the mistakes in our list above.  Bid-Ninja wouldn’t have all of the data we do for them if there weren’t thousands of very happy customers winning great merchandise for low prices every single day.