Penny Auction Sites

ZeekRewards.com Reviews – Legit or Scam?

February 23rd, 2012  |  Published in Network Marketing, Penny Auction Profit Sharing, Penny Auction Sites

ZeekRewards.com is a new and different business opportunity that combines the popularity of penny auction websites with a profit sharing business opportunity.

Unlike traditional auctions, penny auctions charge their users a fee each time they bid on an auction, often between fifty cents and seventy-five cents per bid. Part of these fees pay for the site’s operational costs with the remaining fees being profit.

With hundreds and thousands of bidders each day, the earning potential of a popular penny auction site is impressive. ZeekRewards gives you the opportunity to share in the profits of their penny auction site, Zeekler.com.

How It Works

First, you may not simply choose to join Zeek Rewards. Instead, you must be invited by an existing affiliate to be a member. You may be a free member, and earn commission from selling Retail Bids to Zeekler customers, but then you are not eligible for profit sharing.

In order to be eligible for profit sharing, you must have a Premium Business Center subscription, of which there are three levels: Silver for $10/month, Gold for $50/month, or Diamond for $99/month.

After you have subscribed, you must either purchase VIP bids yourself to give away as samples to prospective Zeekler users, or you must sell Retail Bids to new Zeekler users.

In addition, you must place an ad for Zeekler.com once a day, using the ZeekRewards Back Office. Once you have fulfilled these criteria, you are eligible for profit sharing.

Once you are eligible, your share of the profits is determined by how many VIP ProfitPoints you have in your account, which you earn by selling or distributing VIP bids. 1000 VIP ProfitPoints means that you are qualified to earn 100% of that day’s individual share.

The Bottom Line

ZeekRewards is a new and different business opportunity. It is merging the ideas of affiliate marketing – by having its members place ads and recruit new users to their penny auction site – with a multi-level marketing compensation plan.

One potential problem with ZeekRewards is the complexity of their compensation plan. It may be hard to recruit new affiliates to your downline if you cannot easily explain to them how they will earn their money.

However, there really aren’t any other business opportunities out there similar to this one, so it is difficult to say whether or not it is worth the time, effort, and investment that would be required to make it successful.

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Sellmoo Reviews – Legit or Scam?

February 6th, 2012  |  Published in Penny Auction Sites

Sellmoo (Sellmoo.com) is a penny auction site which was established in 2009 and claims to be one of the oldest and most reliable penny auctions sites available online today.

Unlike other penny auction websites, Sellmoo claims to have no “reserve” on their auctions, which means there is no minimum price that must be reached during an auction for it to be considered over.

Initial registration at Sellmoo is free, and their bids are priced at 60 cents each and available in different sized bid packages, which can be used to bid on thousands of items, which can be won at up to 95% off their retail price.

Penny Auction Controversy

Penny auction websites have received increasing criticism over the last few years as they have become more popular. One of the most popular complaints is that these sites are more like gambling than auctions.

Since you must pay for a chance to win, and those who lose the auction lose their money, the setup of penny auctions is more similar to a gambling site than a traditional auction site where there is no penalty for losing.

However, there are more serious claims being made recently of penny auction sites auctioning off items they don’t actually have in stock, and then simply refunding the money to the winner of the item, but keeping the losing bid money.

Or sometimes these sites will auction off certain products but then send different but similar items to the winner because of stock and availability issues.

Problems with Sellmoo?

A potential red flag with the Sellmoo penny auction is that, unlike other penny auction sites, they do not allow you to see any in progress auctions or even view the items they have available for auction until you have already purchased a bid pack.

Their Terms & Conditions makes it clear that no purchased bids will be refunded, so this puts new members of Sellmoo in a difficult position. You have to be willing to spend at least $24.00 – the cost of their smallest bid pack – to even decide whether or not they are selling items you are interested in.

Before registering with any penny auction website, it’s always best to look for customer reviews in order to identify any potential problems so that you can protect yourself.

DealCent.com Reviews – Legit or Scam?

January 13th, 2012  |  Published in Penny Auction Sites

DealCent.com is a penny auction website that claims to sell brand name, factory sealed items at up to 95% discount, including in demand electronics like HD TVs and iPads.

Penny auctions are becoming more and more popular, with new sites and new users popping up everyday. Especially in a tough economy, the idea that a new TV or computer could be purchased for a fraction of the price is very attractive to people.

But if you have never used a penny auction website, you should know that there are many differences between penny auctions and regular auctions that new users should be aware of before they bid.

What to Know About Penny Auctions

First, every bid you place during a penny auction costs money. Bids at DealCent.com range from 50 cents per bid, if you purchase the largest bid pack of 500 bids, to 70 cents per bid if you purchase the smallest bid pack of only 75.

This means that if you lose a penny auction, you lose money as well. Because of this, many people have said penny auctions are more like gambling than like a traditional auction.

Another important difference is that every time a bid is placed during a penny auction, the clock is extended by a certain amount of time. This means penny auctions can go on for much longer than traditional auctions.

Make sure you have the time to participate; otherwise you may have to walk away from an item you have already invested a lot of money in.

More Concerns About Penny Auctions

With the large number of penny auction websites online, there are a wide number of complaints and issues that have arisen. These websites have been accused of everything from having bidding bots to raise prices to auctioning off merchandise they don’t actually have.

Before you commit to any penny auction website, you should search online to see what kinds of problems their customers are experiencing, if any.

What About DealCent.com?

DealCent is a very standard penny auction website. Whether or not they provide good customer service or have issues with merchandise delivery has not been established.

However, if you win an auction at DealCent.com and need to request a refund for any reason, you must do so within 7 days of receiving your item. DealCent.com will refund the final auction price you paid for the item, but the cost of the bids will not be refunded.

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Ziinga Reviews – Legit or Scam?

November 3rd, 2011  |  Published in Penny Auction Sites

Ziinga.com is a penny auction website that is available to users in over 16 different countries, including Britain, Canada, and the US, and claims to give people the ability to purchase expensive items at serious discounts.

Like most penny auctions, each bid on Ziinga US raises the price of the auction by one penny and each bid resets the auction clock to a longer period of time. The auction clock will reset with shorter times as the auction lasts longer.

All Ziinga auctions start at $0.00 and have no reserve price bidders must meet. The last bidder left wins the right to purchase the item at the final auction price, plus costs of delivery.

Ziinga does have auctions set with “maximum” prices, which means that once the bidding has hit the maximum price, members continue to bid in order to be the last bidder, but these bids will not increase the final item price.

You can only win two auctions at Ziinga within a 14 day rolling period, in order to allow more members to win auctions. To start bidding at Ziinga, you must purchase bids which range from 69 cents to $1.19 depending on the size of the bid package you choose.

Do you have experience with Ziinga.com? If so, please leave a review below.

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Bouncy Bids Reviews – Legit or Scam?

November 3rd, 2011  |  Published in Penny Auction Sites

Bouncy Bids (www.BouncyBids.com) is a new penny auction website that claims everyday people can use auctions to buy expensive, in demand items at extremely discounted prices.

Bouncy Bids allows members to register for free, but in order to participate in the auctions you must purchase credits at 60 cents each, in different size bid packs. When you purchase your first bid pack, Bouncy Bids will give you ten free Bonus Bids.

In addition, the larger the bid packs you buy, the more Bonus Bids you can receive. However, all purchased bids are non-refundable, so if you are a first time Bouncy Bids user you should wait until you are familiar with the site to buy the larger bid packages.

Is Bouncy Bids The Same As Other Penny Auctions?

Bouncy Bids is the same as other penny auctions in many ways. First of all, each bid raises the price of an item by one penny, unless otherwise noted, and the “winner” of each item wins the right to purchase that item at that price. They don’t actually win the item.

And, like other penny auctions, every time someone bids on auction item, more time is added to the auction clock to extend the time people are allowed to bid.

However, at Bouncy Bids the auction timers do not start counting down until the first bid, and while they do add time to the auction clock, the more bidders who are competing for an item, the less time will be added to the auction clock.

Finally, Bouncy Bids offers Rookie Auctions, which is the equivalent of Beginner Auctions at other penny auction websites. New members who have not yet won an auction are the only members who can participate in these auctions.

What to Look Out For

There are some differences between Bouncy Bids and other sites that users should watch out for, however.

Bouncy Bids does not have a standard Buy It Now feature, which is a feature that allows users who lose an auction to take the cost of their used bids and place it toward buying the auction item at full retail price.

Instead, Bouncy Bids only allows the Buy It Now feature for specific auctions. In addition, though Bouncy Bids promotes its Bonus Bids feature – where users are awarded Bonus Bids for doing things like referring friends – Bonus Bids will not be considered applicable.