Wednesday, April 20, 2011

PennyAuctionBot Review

This is my PennyAuctionBot Review. Thanks to Krish for giving me a copy for the review.

What is it?
PennyAuctionBot is an excellent piece of software written for select penny auctions, including Quibids, that gives you total control of the bidding process through an automated bidding tool. I have always wondered how hard it would be to write such a piece of code. I still have no idea, but I do know that PAB has done this to perfection.



Now, you don't have to be in front of your computer to win any item. PennyAuctionBot is a totally set and forget system that allows you to time your bids exactly as you like.

PennyAuctionBot changes the whole way in which the game of penny auctions is played.

Features
In this part of my PennyAuctionBot review, I'll cover the various desirable features that PAB can do.

First, there are a number of penny auctions to choose from. I could count 13 different penny auctions (their site counts 20 as it includes all the different locations of BidRivals, but to me they are all essentially the same, especially because even the products are not different in those) including Quibids. I think if the product does well they can easily include other penny auctions too. Right now, I see all the biggest names in the industry: Quibids, Beezid, BidDeal, BidCactus, BigDeal, etc. I would really like to see the software work for some smaller and new penny auctions too. This is a great strategy for many penny auction bidders as they try to avoid the competition in the established penny auctions.

Then, you can choose all the parameters: Starting and ending prices, maximum number of bids you want to be placed and how much before the auction time end you want to place the bid. Once you do this, PennyAuctionBot does all the bidding for you and you don't need to worry about anything at all. All the bids will be placed by PAB and there is no need for any intervention.

Ease of Using the Software
Now, in my PennyAuctionBot review, I would like to talk about using the actual software itself.
It is extremely simple to use - just enter all the parameters that you want, enter your account details and you are all set. You can press the start button when you want the auction to start.

One very good feature about PennyAuctionBot is that you can change the parameters as and when you want in the middle of an auction and the software picks it up pretty fast.

To get a brief overview of the whole process, you can watch this video which explains how it is done. The video is for iTicketBid but it is exactly the same for Quibids as well.



Once set, there is nothing else that you need to do.

The log is a very good place where you can see all the updates and other information. If there is a problem running it, then too you can see the log. It also tells you the exact time when the software placed a bid for you.

And you can also stop the software whenever you want, so it will not place any further bids. You are always in total control.

PennyAuctionBot vs BidoMatic
At this point, you may be wondering if PennyAuctionBot is similar to BidoMatic or really all the other automatic bidding tools that the auctions have in-built. The answer is no - they are not the same. Not even close.

The biggest advantage that PennyAuctionBot gives you is that you can time the bids whenever you want. This cannot be done with BidoMatic where bidding is arbitrary. Thus, you can configure your PAB so that it will bid when there is exactly 1 second left on the clock, each and every time. This can save you a lot of bids if you adopt the right Quibids strategy for doing this.

Another important difference is that with PennyAuctionBot, you can place as many bids as you want. So if you are bidding on that Macbook, you can place 1000 bids at the last second. At BidoMatic, you can only place a maximum of 25 bids at once.

Quibids Strategies using PennyAuctionBot
The PennyAuctionBot is a game changer and it opens up a whole lot of new Quibids strategies. In particular, I write that the biggest drawback of Quibids Strategy: Bid at the last moment is that it is hard to do in practice - people get bored doing it. With a software doing this, it changes the game. It is still not a golden bullet. For example, using this software it is hard to create the situation of Quibids Strategy: volunteer's dilemma which needs a proper human intervention. My only point is that PAB will not guarantee you any wins but it is a wonderful tool to have.

I'll probably devote an entire post to this aspect, but for now, you can see how PennyAuctionBot can be a great tool if you want to win big-ticket items. You will save a ton of bids if you use this piece of software (I'd still say don't bid on the big-ticket items if you do not intent to buy it at full retail at Quibids).

Problems?
I can see no problems with the software. I had an issue initially but it turned out it was because I had an older version of IE (you need IE9 for this). Their customer support is very prompt with any problems. Just read the user manual before you begin and watch the above video and you will be all set.

I did see that when there are a ton of bidders all bidding at the last second, PAB was not the last among equals. This means if there is a particular bid that you manually want to place when 1 second is remaining, you will probably "outsmart" PAB. However, if you a fraction of a second late, you lose the bid an potentially the auction. Plus you have to stay with the computer all the while.

Don't think of PAB as a guaranteed way to win at Quibids - it is not. It is just a very useful tool that you can use to greatly increase your chances of success.

Finally, as I already said, I'd like to see PAB working with other penny auctions, especially some of the new ones.

I hope you found my PennyAuctionBot review useful.
Check out PennyAuctionBot here.

Edit: Windows XP and IE8 are now supported by PAB!

6 comments:

  1. Hi! Your blog is excellent and I have learned many good and useful tips. I am wondering one thing as a beginner, why do people bid on items before the auction begins? This is baffling me! Thanks!

    ReplyDelete
  2. I am glad you liked the blog! As to why people bid very early on, I think it is mostly because of a lack of understanding of the penny auction model and the fact that timers are reset. In very rare cases it can be a good thing but in almost all cases, it is isn't.

    ReplyDelete
  3. I affirm that mostly the aggressive bidders with distinctive usernames ( for us to remember) bid before auction start. I have seen in some cases even hours before auction start. It's there way to say: You know me , I am always the winner at all cost, stay away.What you have is those big names get an item each and go for it ,they don't compete

    ReplyDelete
  4. This never worked for me and I have 2 open tickets #944439
    AND #469848, So they can correct the fault but they never got back with me, DON'T BUY Krish didn't stand by his product and no refund either

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