Marketing

Avoiding penny auctions that spam free bids.

Comments Off on Avoiding penny auctions that spam free bids. 09 June 2011

I work at PennyAuction.com. While looking for advertising venues, I was shocked at how many sites were offering gross amounts of free bids to new customers. While this may seem like a great idea to test drive a new site, it’s really not.

Many of these sites give 25, 50 or even 100 bids for new users to complete tasks like follow them on Twitter or “like” their Facebook page. The auction sites can then use these vehicles to market to the customer in the future. There are plenty of sites running legitimate specials with a limited amount of free or super discounted bids being given out. I’m not talking about these guys. So what’s the problem with giving 100 free bids to 100s of new users?

The problem is that some users don’t get these deals. The previous customer or new user pays $20 for 30 bids and they’re bidding against other users who just received 100 free bids. The free bid seekers will sign up multiple accounts and drain paying users. The free bids devalue the paid bids and raise bid quantities. Products that closed for $5 previously are going for $15 or higher and users who paid full price are getting sucked in. They don’t know about the deal and don’t know they’re bidding against user with tons of free bids.

I fully recommend taking advantage of free bids. I don’t recommend investing any money into those sites after the bids are gone. It’s likely they will run further promotions that take away from you price per bid value. You also could run into bidders playing with house money when you are spending you hard earned cash.

Don’t let these sites take the value out of your money. Some users bid for fun and some bid for profit. In either case, you can’t let the large quantity of free bids diminish you own bids value. I always suggest doing research on a site before spending a penny. Now you have one more thing to look for. Play smart and enjoy yourself.

Best wishes and happy bidding.

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