BidCactus.com is Accepted Into Entertainment Auction Association

Below is an article that I read on PRNewswire.  Bid Cactus was accepted into the new association, Entertainment Auction Association. This association promotes penny auction integrity. It also strives to make penny auctions safe and reliable for all players. 

WESTPORT, Conn., Dec. 21, 2010 /PRNewswire/ --  

BidCactus.com is proud to announce their acceptance into the Entertainment Auction Association, THE governing body and face of the Paid Auctions Industry.  Launched in 2008, BidCactus.com is the gold standard in penny auctions and has been at the forefront of the Paid Auctions Industry.  The company is the first and only to be audited by a top accounting firm and the first to introduce a Player's Bill of Rights. BidCactus.com offers shoppers the chance to bid for electronics, laptops and gift cards for mere pennies.

"When we set out to create the very best online auction experience, we knew what would get us there – a fun customer experience, helpful customer service and, most importantly, guaranteed fair play," said Michael Staw, BidCactus.com CEO.  "We have stayed true to our commitment and we are pleased to demonstrate it to our players by joining this important Association.  We encourage all other Penny Auction companies to do the same."

Comprised of three founding member companies, including BidCactus.com, the Entertainment Auction Association was created with the sole purpose of ensuring that companies operating within the paid auctions industry do so with absolute integrity.  The Entertainment Auction Association will be run and directed by board members, officers, and a paid Executive Director, all of whom will oversee the activities of the Association and its members.

All Entertainment Auction Association members must prove that they are not engaging in any fraudulent or deceptive behavior, that their web site and marketing campaigns comply with the FTC's truth-in-advertising rules and policies, and that they agree to be subject to specific fines and penalties (including expulsion from the Association) if they violate the Association's code of conduct.

About BidCactus.com

BidCactus.com® LLC is one of the largest penny auction sites in the United States.  Founded in 2008, the company has already auctioned off more than 100,000 items including televisions, laptops, electronics, household items and gift cards.  The website runs 24 hours a day.  Live customer support is available during business hours at 1-800-BID-8711.  For more information about BidCactus.com, visit www.BidCactus.com.

How Does Quibids Work?

Those new to penny auctions and Quibids might wonder how Quibids actually makes money when they sell items at 95% off retail price. To begin, on Quibids customers must purchase their bids. Each bid costs just $0.60. Bids are available in Bid Packs of 45, 75, 300, 600 and 800 bids. These bids are pre-paid and placed in your Bids Account. Each time you place a bid, your Bids Account is deducted one bid. Once a bid is placed the auction price will go up in increments of 1,2,5,10,15, or 20 cents. Anywhere between 10-20 seconds is added to the timer every time someone bids. This gives enough time for someone else to make the decision to bid if they're interested. This is similar to the “Going once...Going twice...SOLD!” approach of traditional auctions.

If you are the top bidder when the timer reaches zero, you win! You will then pay the ending auction price as well as the cost of shipping. If you do not win, you lose your bids that have been placed; however, Quibids offers a Buy it Now feature on all auctions. When you use the “Buy it Now” feature, Quibids subtracts the cash value of the bids you’ve placed (excluding voucher bids) from the value price of the item, and you only have to pay the difference.

Let's say you spend 30 bids trying to win a $30 valued product, but you don't win. Your 30 bids are worth $18 (30 x $0.60), so if you choose to use the "Buy It Now', you will pay $12 plus shipping for the product. *Please note that this offer applies to real bids only, and that voucher bids to do not apply to the Buy It Now option.

The "Buy It Now" feature limits the risk in participating in our auctions as we offer the Buy It Now feature for the majority of our auctions.

Quibids makes a good profit on each item even though the item is sold at a deep discount. For example, if a $50 gift card was sold for only $3.50 on Quibids,  Quibids will receive from the winner $3.50 + shipping, plus from all bidders (350 bids x $0.60 = $210). Thus, Quibids will make $210 + $3.50 + $3.00 (shipping) - $50 (price of gift card) = $166.50. However, keep in mind there are some items that they actually do loose money on. And as with any business they have labor, rent, training, maintenance and other expenses.

Source: BidCentz.com

Beezid is giving back every bid you use today!

Below is an email message that I received from Beezid this morning. They are offering a fantastic promotion for today only. Read message below:

On December 29th, Beezid is giving back every bid you place, win or lose!

This time, there's a new price freeze in effect. We guarantee discounts of 75% to 99% off retail, no matter how many bids are placed.

If that's not enough, we're throwing in a Double Up Bonus!

Double your bids on any Bid Pack you purchase! Use the code "Gift"

Don't miss out on the action!

BidFire Biggest Player Award

From now through the end of the year BidFire.com is having a promotion called the Biggest Player Award. "The Biggest Player" of each day will get 50 bids credited to their account. BidFire is tallying the bids at the end of each day and awarding the player that placed the most bids in the 24 hour period. The person with the most bid is awarded the title "The Biggest Player."

The First Win Is Free promotion is also still in effect. Read my First Win Free blog post for more information.

Bid2Free Coupon Code

Bid2Free.com is a new and fun penny auction site. It is very unique in the fact that auctions start at a deep discount and each bid lowers the price even more. The auction ends when the time runs out or when the price equals zero. I love it! I received a coupon code for 5 free bids! The code is: BID5

Come back to my blog later this week for more coupon codes and promotions.

Bid2Free Launches a Unique Penny Auction Site

Below is an article that I found on prweb.com:

Bid2Free launched a first known penny auction website of its kind in the United States this holiday shopping season. Bid2Free.com starts all items on its auctions at between 90% and 95% off retail prices and allows users to bid until the items reach $0.

“We have had a great response from consumers since we launched the site,” said Jon Ruprecht, an owner of Bid2Free.com. “The iPods and iPads, in particular, have built a lot of interest because members are getting them for a fraction of the price they’d pay in the store.”

Individuals create a secure account, choose a bid bundle and begin participating in auctions. Each time members click on an auction item, they pay to lower the price until it reaches $0 or the timer expires. The person who clicks the bid to zero or is the last to bid before time expires, wins the item. If the item reaches zero, the member receives 1 account credit. Shipping is free.

A patent is pending for the new bidding system. The first seven-day auction filled with the season’s top Christmas gifts ends Sunday.

Since launching, Bid2Free.com has steadily increased its membership. The company is giving away an iPod nano for every 100 people who sign up and place a bid, an iPod touch when 500 members are reached, and an iPad when membership reaches 1,000.

Bid2Free, headquartered in St. Cloud, was founded on philosophy to not only make shopping easy, but also to give back to the community. The company donates 10 percent of its monthly profits to charity. Learn more at Bid2Free.com.