Anyone here running penny auction traffic?

There is money to be made with penny auctions...the problem is i feel like the new "it" offer pops up randomly for a week or two, then goes away...then you hear about a new offer that's the "it" offer. Lots of consumer backlash if the advertiser is not responsive to consumer complaints, issues.

Some of the most consistent offers I've seen in the space.

Bid Sauce
Bid Fan
X-Bid's (haven't seen them live on some time though)

We have a new one called Boz-Bid's which is doing very well right now.

Entertaining, amazing nail biting penny auctions that go down to the wire and someone always gets a popular product at a deep discount. | BozBids.com »

Bid cactus is doing well also, I will check out Boz bids Stephen, I was looking for it and did not know you guys had it.

A client of mine is going to start something in this niche. So i am excited to start on that project. Fully custom script. International etc.

I was going to start a project of my own earlier, but the best script for sale (Non Custom) was a crappy script.

Bid Cactus was killing it for me awhile ago on Neverblue. Not sure about now.


CHAD

I was doing pretty well with penny auctions 7-8 months ago when they were still "fresh". I've since moved on as there was a lot of competition for media buying/ppc etc. in this niche and conversions were dropping. If you have solid traffic though there is definitely still money to be made.

As others have said you do have to chase the "it" offer - which can be kind of annoying at times.

Problem is that penny auctions are basically ripoffs and designed to be. They keep going to make as much money as possible before ending. It is in the interest of the penny auction owners to do that. They also can offer decent commissions to others by doin that as well. The problem is that so many lose and don't get a benefit.

Well in the last week there is one company that has changed that. If you think about the problems associated with most penny auction sites

1. They only end when people stop bidding past the target price. That means it can go forever and an example I have seen is a $200 giftcard that went for $1164 with 90c bids.
2. People have auto bidding bots that keeps it going making it hard for some people to ever win
3. No limits to the number of people able to bid on an item meaning you compete with potentially thousands
4. No limits on how many items someone can win, so those same people can dominate.
5. People that so not win get nothing back at all.
6. People can watch the auction then in the last seconds sniper the auction with very few bids

Now here are features incorporated in this new one.
1. Once hitting the target price there is a 30 second timer with a limited number of resets so the auction does not continue on for long perids.
2. No bots or auto bidding is allowed.
3. There are limits to the number of bidders for each auction. Once reached no more can join the auction.
4. There are limits to how many auctions people can win in a 24 hour period and a monthly period. They are generous enough but still provide more fairness.
5. People that do not win the auction get activity points that are converted to credits daily. Effectively that is like a cashback.
6. People can only bid in once it reaches the 30 second timer if they have already bid before the timer was activated. Means no snipers.
7. The bids run backwards so the winner will only pay 10c and has no shipping charges.

It provides fairness to all.
Here are some examples of how it hits the target price (which runs backwards to 10c)




The green number is the credits that will run backwards to 10c. So as an example the Apple Ipod Shuffle will hit the timer after 100 bids which is $50. Then there will be a set amount of resets if people keep bidding. The amount is not shown to people but from data I have collected an average amount for a prooduct of that price would be around 20-30. Of course if people stop the timer runs out and that person wins.

People can still earn commissions as well. So sticking with the above example if you referred the person that won the item you would get a 5% commission of the retail value, or $2.48. If they didnt win you would get activity points based on that persons bids and they would as well. So win or lose you get something

I think a lot of people are going to flock to this one as it does not rip people off like every other one I have seen. This is just one part of the business so it is not relying on the penny auctions alone. That also provides more stability for the company, it will not disappear like so many others.

It is only new so a great time to get involved with it. I don't think I'm allowed to post a link here so if you want to know more get in touch with me or look on my website as I discuss it there as well.

I heard of this site called supermonkeybid.com They have some pretty cool stuff. I like the new sites. The Popular sites are to get items.

I used to be a penny auction addict. I would find brand new sites and take a gamble and bid. I was able to get a bunch of big items. (PS3, 22' LCD TV, iPod etc.) You can make a lot of money but you gotta be smart.

Lots of people are running these, is there something specific you are wondering about?

I'm also involved in a super affiliate program for a penny site, but it's a "profit sharing" program that pays on the back end. It has nothing to do with bidding or investing in the products. Most of us are averaging 1.00% to 1.75% daily returns and letting our profits compound. Obviously, you can do the math and figure out what we're making per month. I also have a retail store for people who want to buy for less and not participate in bidding. Contact me if anyone's interested in participating in this profit sharing plan.

I don't know if this is what you are asking but...

I spent less than $60 on Quibids and ended up coming out with about 10 giftcards at $25 - $50 a piece and a few random things

Altrough penny auction sites are good, but they not convert good on CPA.. most of them are scams and fakes..

I decided to post these links for anyone interested in an incredible profit sharing opportunity as an affiliate for a penny auction website + plus website store all made for you. I only spend a few minutes each day as an affiliate and our team can teach you to do the same. We are NOT bidding on auction items, but we are driving traffic to the site. Enjoy the read and contact me with any questions.

REMOVED BY MODERATOR

Ploose just got the Quibids Penny Auction offer and it seems to be doing really well.

We have DealFun for a bunch of countries that does very well. Especially at this time of year.

Have people stopped promoting Penny Auctions all together or do some of you still working them.

I'm trying to do some research into the feasibility of owning an actual Penny Auction site and how affiliate marketers feel about them. I see a lot of people still feel they are scams and ripoffs and I can't really blame you because most of the sites are set up that way. I've got a lot of ideas to change that. I just hope their credibility isn't completely ruined already.

Thanks guys,
Al

Hey Al,

I think you missed the bus by about 12 months my friend.

Consumers are onto the gig now.

PPC-Coach,

Thanks for the quick response. I think you're right about customers catching onto the current sites and how they do business. I don't think the current business model is sustainable long term. The only way it would be is if there are enough gamblers who get a thrill out of shopping. I'm willing to bet that the market for such people is pretty small. Casinos are much more appealing.

I plan to change the current model and fix everything that is wrong with it. I think with a few major changes penny auctions can be a risk free and exciting shopping experience.

What are some other peoples opinions? I'm sure a lot of affiliate marketers never bothered promoting them because they didn't want to be a part of something that could potentially rip off a consumer. Do you think a site that was proven to be risk free would have better results with the community?

Thanks again,
Al

Penny auction portals come in different flavors. We do highest unique bid quota auctions.Like in any online auction websites traffic is a combination of Free & paid (CPC, CPA etc).