Changes to BidFire - Temporarily Closing

BidFire announced on their blog yesterday that they will be having a new phase to BidFire. They will be slowing down their current auctions to phase themselves out in order to rebuild and restructure the "new" BidFire. Their site will be temporarily closing until future notice. Personally, I have seen a lot of penny auction sites do this. They close their site to reformat and rebuild. However, these sites never return. I really hope this is not the case with BidFire. I really like BidFire's site. The last auction on BidFire will be on Sunday so hurry up and use your bids. Auctions will now only run nightly starting at 5:30 PT. I don't really feel like this gives many people enough time to use all their bids but at least BidFire has given some warning unlike most penny auction sites that close.

BidFire will offer customers to try the Beta version of their new site. If you are interested email support@bidfire.com.

If you would like to read more on BidFire's blog please click here.

New Penny Auction Site - BidBidSold

There is a new penny auction site in the US called, BidBidSold.com. These penny auction site is similar to rest but does have some unique aspects. The site has a clean look and to me has the same colors and text as google The site offers a "Daily Deal" with a fun new deal every day.

BidBidSold has a three different types of online auctions:
1.) Traditonal Penny Auctions
2.) Free Roll Auctions
3.) Exclusive Penny Auctions

With free roll auctions, bidders will be given a designated amount of bids per auction for free. There are 2 types of free roll auctions: Red - are for all registered users. This gives you the opportunity to win without spending money on bids. Green - are exclusively for customers that have purchased a bid pack within 3 days of the auction giving them preferred status. Winner is responsible only for the closing amount of the auction. Shipping is free!

With exclusive penny auctions there are a limited number of slots available, usually 10. Bidders allocate 10 - 15 bids to the auction (according to the pre set amount shown for that specific auction.) Once the slots are filled, the bidders will receive an email stating that the auction will start and only those bidders who have allocated bids can participate in this auction. By limiting the number of bidders, your chances of winning increases.

For more information on BidBidSold please click HERE.

Florida's Attorney General is Investigating Penny Auction Sites

According to News4Jax, Florida's Attorney General is investigating penny auction sites and looking into the possibility that penny auction sites are scams. Many people believe penny auctions are too good to be true. Florida's Attorney General agrees that it is just too great of a deal. However, real people do actually win great items like a 42 inch tv for $1.53 or a PS3 for $2.34. The way penny auctions make money is by charging for bids. Each bid costs anywhere from $0.50 - $1.00. When a bid is placed the auction price increases a penny. Thus, if a video game is sold for $1 and bids are $0.50 each, the penny auction site really made $51 (100 X $0.50 + $1). Some people think penny auctions are a scam, but they are not illegal.

Below is a statement by Florida's Attorney General's Office:

"Our Cyber Fraud Task Force is looking into the issue of penny auctions as an active investigation and therefore we will be unable to provide any additional detail. As far as tips for consumers, we are still learning about these sites. However, at a minimum, reading and understanding the terms and conditions, including any information about the charges necessary to register or buy bids is certainly important."

There have been several lawsuits on penny auction sites and lawyers claim that they want these sites to be listed as gambling sites rather than retail sites.