Best Penny Auction Coupons

Penny auction coupons are very useful if you are looking to get some really nice discounts. Lots of penny auctions have a system where they give free bids if you use a coupon. Still others have penny auction coupon codes that give a good discount on bids.

However, one of the best deals on penny auctions that you can get is at PennyAuctionCoupon. This is a wonderful site which is modeled after Groupon. So here is how this site works - they feature a penny auction on their homepage for 1 day. This penny auction then gives a huge discount to everyone who buys from PAC. Discounts of up to 50% are the norm here, which is much higher than any penny auction coupon can ever give you.

From the point of view of the penny auction, it is a good way to promote their site. They get a host of interested penny auction bidders who are then able to join their site and perhaps be active.

Many of the well known penny auctions are also featured on PennyAuctionCoupon and you might just find one of your favorite sites listed as well. Remember there is one deal every day.

The process is quite simple - you join the penny auction being featured if you haven't done so already. Then you buy the bid pack directly from PennyAuctionCoupon who pass on your information to the penny auction. You will then have the bids credited to your account within 24 hours. It is risk free because you pay not directly to the penny auction but to the site PAC, so you know you cannot be scammed.

Check out PennyAuctionCoupon to find some great penny auction coupons and deals.

Last Chance for 50% Free Bids at HappyBidDay

HappyBidDay Coupon Code: MEMORIALDAY (Click to Activate)

HappyBidDay is an interesting penny auction which is relatively new penny auction, is less crowded than sites like Quibids and not too many people know about it. As an example, I was just following an auction as it ended in ... 5 bids.

The ending price was $1.06. What confuses many people is the price - they think there were 106 bids and think the site is competitive, but only 5 bids were placed. This is because the auctions at HappyBidDay start at $1.01 and not at $0.00 or $0.01 which is generally the case. Plus, almost all auctions have free bids with them, so you buy a bid pack, win an item, get free bids, then use these free bids to win more items (of course you need to follow penny auction strategies) It is a nice site to check out and they have regular promotions as well.

They are giving 50 free bids on purchasing a 100 bid pack for the Memorial day coupon till the end of the month, i.e. 5/31 using the coupon code mentioned above.

Check out the site at www.HappyBidDay.com to see the auctions.

RockDawg Coupon Code

I am happy to announce a new RockDawg coupon code for bidders. This is valid only for new users who sign up with this code. You will get 10 free RockDawg bids, which is a great deal, in my opinion. The RockDawg coupon code is RD52.

RockDawg is a new penny auction which has special 'unleashed auctions' to add to the excitement. It is a very trusted site and has one of the best reviews online. They have a great customer service you can reach practically anytime. You can also read my interview with Diane of RockDawg. Diane is the co-founder of RockDawg.

Edit: There was some problem earlier and now it is resolved. So all you have to do is just log in to your RockDawg account, go to your account and on the left hand side menu click on Redeem Awards. Then, enter the coupon code RD52 and you will get 10 free bids instantly added to your account! If there is still a problem, drop a comment and I'll get it fixed. 

Penny Auctions Blog on Facebook!

For all my readers, I have a new way to stay connected. Why, of course it is Facebook! Please join me on Facebook by liking the page. You will get the latest news, updates, free bids, promotions, etc. through the Facebook page, so don't miss out. I have lots of offers to offer!

Also, I am writing an eBook 'The Ultimate Guide to Win Penny Auctions' where I will include all the penny auction strategies, tips etc. It is going to be a comprehensive guide for penny auctions which will be immensely beneficial to all bidders. I plan to sell it at $19.95, but to my first 25 Facebook Fans, I'll give it for FREE! So that's my gift to you - join me on Facebook now! The eBook should be ready in a couple of weeks.

Penny Auction Strategies: How to Win Penny Auctions

These penny auction strategies will help you win penny auctions. Please note beforehand that there is absolutely no penny auction strategy that will guarantee you a win. Ever. If anyone claims to do so, like the countless Youtube videos that you see, it is simply BS - beware of the snake oil salesmen around this industry.

So why is there no foolproof penny auction strategy? Simple, because winning these auctions doesn't just depend on what you do but also on what others do. Ultimately, there is just one winner. Think about it, what if all players are using the "100% guaranteed win on penny auction strategy"? Who will win?

Sometimes, at penny auctions, you should know when to quit. Without knowing this, you might end up overbidding and thus potentially losing a lot of money.

Penny Auction Strategy-1: Plan Your Products Ahead of Time 
How many times have you gone into a store and tempted to buy something you don't need, specially when it is at a discount. Huge discount. How many times have you been tempted by infomercials that promise to "double your order" for just $19.95 and never used it ever. This is what happens with penny auctions too.

Different penny auctions have different products on sale. These can range from electronics to gift cards. Do not bid on items that you don't need - there is absolutely no point in risking your money for something that ultimately you don't need any way. Bid only on those products which you would want anyway and perhaps buy them from Amazon in any case if you don't win it.

This penny auction strategy should also be followed with those sites that offer a Buy Now feature, like Quibids, BidRivals and DealDash. These penny auctions allow you to buy an item you lost at full retail, so you don't waste money on bids. However, if you end up buying an item that you don't need at full retail, I think it is just a waste of money.

So remember that to get the best penny auction deals, you should plan what products you need in advance.

Penny Auction Strategy-2: Plan a Budget 
You will be surprised by the number of penny auction bidders who overbid on items. This is a serious problem and should not take place. It is easy to get lost in the excitement of a penny auction, but there is a time to let go. Without knowing when to let go, you can go on spending on an endless spree. There is no end to to the potential losses that you can take.

It is also for this reason that I advise never to bid on penny auctions with the money that you really need - the money to pay your groceries or mortgage. Instead, only bid with the extra money you have saved and know the risk. Always know the risk before starting - some penny auctions involve the risk of losing all the money while other penny auctions entail the risk of buying the item at full retail or losing all your money. Knowledge is power in this case.

Penny Auction Strategy-3: Choose your Penny Auctions Wisely 
This is perhaps one of the most important penny auction strategy that there is. You should know which penny auction sites to bid on. Choosing the right site can make or break the profits that you expect to get from these auctions. While deciding which penny auctions to join, you should look at the following -

• Legitimacy of the Penny Auction: This is the most important feature. The penny auction should ship the items that you win and not employ any bots for bidding against you. It is the most important aspect of any penny auction that you should look. 
• Competition: This is the next aspect. Among all the legitimate penny auctions, you should find the ones that are less competitive, i.e. more products with less bidders. A preview of previously closed auctions should give you a good idea. 
• Product Selection: The penny auction that you select should sell the products that you are interested in. This will ensure that you don't waste money on products that you don't like. Of late, there are many niche penny auctions, so join such sites only if you are interested in the niche. 

You should check out my blog regularly for the best penny auctions. I try to get in touch directly with the owner and only then recommend penny auctions that I think are legitimate and less competitive. My readers have had excellent results from the penny auctions that I recommended to them.

Penny Auction Strategy-4: Know When to Bid
Penny auctions have varying degrees of competition throughout the day. Also, there is a lot of variation along the week. It is very important that you know what the best time for bidding at your penny auction is. I write about this for some penny auctions, like What's the Best Time to Bid on Quibids.

Time timing of bidding is important and it really depends from one penny auction to another. As a general rule, there are more bidders during nights and weekends, but then some penny auctions might have more products during these times. There are also special times and occasions where you can look for less competition. You should do your research in advance for this penny auction strategy to work. If you want me to research the best time to bid on penny auctions for a particular site, just let me know and I'd be happy to help.

Penny Auction Strategy-5: Know the Volunteer's Dilemma 
The volunteer's dilemma penny auction strategy, first reported on this blog, is a very powerful game theory rule that can help you win penny auctions. The more such chances of dilemma you create, the higher your chances of winning. You should preferably watch a few auctions which show the Volunteer's Dilemma strategy so you understand it better.

Penny Auction Strategy-6: Beware of Bid Voucher Auctions 
Yes, beware of bid voucher auctions. This is a strange penny auction strategy to mention but is very helpful. There are only certain penny auction sites where you should look to bid on bid vouchers. For example, I explain in my Quibids strategy for Bid Vouchers why it is not a very good idea to bid on voucher bids at Quibids, because you cannot use them for Buy Now feature.

Some penny auctions don't offer the Buy Now feature and their voucher bids can be less competitive, so you might want to try those out. However, generally bid vouchers are one of the most competitive auctions, so you should always be careful. Look at the previous history and closed auctions to get an idea.

Penny Auction Strategy-7: Winning Big Items 
If you are new to penny auctions, I don't suggest going for the Macbook or iPad right away. These tend to be very competitive. I will soon publish an eBook that will give all the details on how exactly you should go about winning big-ticket items because there is just a lot to be said. For now, let me just say that winning big ticket items is very different from winning small gift cards. At Quibids, you might check out my post on How to Win Quibids Macbooks and other items. However, there could be better options than Quibids if you are serious about winning that Macbook.

These are my penny auction strategies I use and have studied on thousands of auctions online. When I complete my eBook, I'll give many more intricate details and strategies that will help you win penny auctions. Don't forget to leave a comment!

MyPadiddle Interview with David Hoffman Jr.

I had the chance to interview David Hoffman Jr. of MyPadiddle. David is the COO of the penny auction MyPadiddle. He has some very interesting thoughts to share not just about his own website but penny auctions in general. I am sure you will enjoy reading his thoughts as an insider to the penny auction industry.

Sid: MyPadiddle seems to be the only penny auctions really interested in sporting goods, events and tickets. What made you attracted to this segment?
David: We are sports guys! When we decided to start MyPadiddle we wanted to come in as a niche site. We have access to almost any ticket at any time and we get the best seats to those events. Just ask our customers who have already gone to the Final Four and MLB games since we started in March.

Sid: In the future, do you want to see MyPadiddle as an exclusive auction for a niche segment or a general penny auction with all kinds of products?
David: I would have to say more of a general penny auction but we will always have the event tickets as well. We will always broaden our product list and will take requests as well. Whatever our customers want is what we will have!

Sid: What attracted you to the penny auction model?
David: Simple, the possibility to run a profitable business. The penny auction model for the larger sites is great. The fact that some of the top sites seem overloaded with users, we believe those users will be looking for new sites. So if we target those users plus consistently bringing in our own new users the Penny Auction model looks attractive!

Sid: With an increasing number of lawsuits and complaints, the press seems to be a tad skeptical about penny auctions. Where do you see the future of the penny auction model?
David: People love to play games, people love to shop, people love to win stuff, and people love competition. I believe the Penny Auction industry will continue to grow and the model will mainly stay the same. There will still be a few new sites that will try something new. The complaints on other websites are hurting the industry. There will always be scam artists out there trying to make a quick buck if they can. They are the ones giving the industry a bad name. As time goes on and Penny Auctions become larger, we hope that there is some kind of regulation so all the legit sites can grow. As for the lawsuits, in my opinion, they won’t last long. I have read through some of them and don’t believe that they will last very long. Skepticism will always be there with a new user. That is understandable. If the new user hangs in there and studies certain sites and the behaviors of its users, those users have a good shot at winning items for cheap. The more knowledgeable a user becomes about a Penny Auction site, the more the skepticism will go away.

Sid: Do you think the industry is saturated with so many new players in the market or do you think there is scope for penny auctions to go more mainstream and thus more potential for growth?
David: I think that the industry is saturated with new players but those new players are all playing on the bigger sites. Those sites pay big money for their advertising and have earned all those new players. I think that a lot of those users will start to trickle down and grow some of the medium to smaller sites. That is, if the medium and smaller sites are also paying a good chunk of money into their advertising to target them. I think that penny auctions will grow into more of mainstream then it currently is and I do believe that the industry as a whole will keep growing because of it.

Sid: Do you see more penny auctions emerging in the future catering to a niche segment?
David: The Penny Auction model is very appealing to someone who wants to start a business. It is also very deceiving. I think that the new Penny Auctions will continue to pop up all the time, especially niche sites. The sites that have the capital to spend on advertising as well as make it through the heavy losses in starting up will survive. Another aspect that separates Penny Auction sites is their Management. If you don’t know how to run a business you will fail and fail quickly in the Penny Auction industry. MyPadiddle has a very smart and savvy management and that reflects in our Customer Service, Shipping and Tech team (which has built us a fantastic site!).

Sid: How is MyPadiddle different from other penny auctions?
David: There is not much different between any of the Penny Auction sites. It’s all the same model just different items, different look, customer service, shipping times, and rules. I believe our current customers that have already tried MyPadiddle will attest to how we run our business! I would put our Customer Service, Shipping times, and website look up against any other site out there!

Sid: What additional features would you like to add to MyPadiddle in the short and long term?
David: We are working on a couple things. We would like to have a daily giveaway where one random person will win a prize each day! We are also working on our MyPadiddle points. The points will be accrued from buying bid packs as well as bidding on items. The points will eventually be able to be spent on free bid packs as well as some items. We are excited to roll out both of these projects soon!

Sid: Have you reached the critical point in terms of number of bidders where you can turn an overall profit?
David: Not yet. That is not good for us but great for the bidders! We understood that there will be losses and possibly heavy losses when starting a new business. We have some great advertising projects coming up in June to keep growing our user base. As a new user, now is a great time to bid at MyPadiddle!

Sid: If you had to give just one reason for penny auction bidders to choose MyPadiddle over others, what reason would you give?
David: Service, Service, Service! We have some great people who run our Customer Service and Shipping departments. If a user wins an auction, they want to know that it will be coming soon. We ship our products out 1-2 days after an auction is paid for. We also work with our users who would like to exchange what they won for some Amazon credit to buy something else. We are always ready and willing to work with our users. The site looks fantastic and runs perfect is another great thing about MyPadiddle!

Sid: Tell us something about the people behind MyPadiddle. How big is the team? We have 4 owners to MyPadiddle.
David: Jamie and Shawn came up with the idea to start MyPadiddle and really got us off the ground, planning took 5 months before our actual launch. Myself (David) and Ed jumped in about 2 months before the launch of MyPadiddle. We have a company based in South Bend that built our site and will make any changes we need. We have others that help from time to time to always assure we keep our shipping deadlines and our customer service emails answered. This advertising push in June will tell us if we need to add a few people to help us stay within our shipping and customer service goals. Hopefully we will have to add to the employees at our downtown South Bend office!

Sid: What’s the guiding motto at MyPadiddle?
David: Meet our goals and have fun! Our goals for Customer Service and shipping are high. We have to work hard to attain those goals. In attaining them we have to have some fun though! I for one believe that if you are not having fun then you won’t do as good a job. Everyone wants to have fun while they work, right?

Sid: Did you start any companies prior to MyPadiddle?
David: None of the 4 owners have previously started their own company. I lived with the owners of Better World Books (www.betterworldbooks.com) and was with them as they grew from 2 employees to close to 300 employees, a 260,000 sq ft warehouse, and were in Times Magazine recently! Fantastic company and I learned so much in my time there.

Thank you for your time Sid! I appreciate all the questions and to any new users who have not tried MyPadiddle yet, please come by and try us out!! You can use the promo SID2011 to receive 10 extra bids on your bid pack purchases. Good luck and remember to always have fun!

I hope you enjoyed the interview with David.

Scooter on Quibids Featured Auction of the Week!

I have previously written how Quibids can get boring with Featured Auctions and have the same product again and again. Well, this week there is a refreshing change: A Scooter!

Now though not everyone would like to own a scooter, it is a nice change and brings some excitement. A scooter auction had already taken place at Quibids that ended just yesterday at $83.97

This particular scooter is priced higher at $2400. You can check out the Scooter Auction at Quibids here.

How do Penny Auctions Differ from Ordinary Auctions

How do penny auctions differ from ordinary auctions? This is an important question to answer because it determines what penny auction strategies you should use to win these auctions. The strategies of penny auction are vastly different from strategies of winning on say eBay.

First, you should read my post on How do Penny Auctions Work to fully understand the kind of business model penny auctions use.You might also like to read my Quibids Review, which is the largest penny auction, to get a perspective. My post on Quibids vs eBay is also a good read for beginners and pros alike.

Now, back to the topic of how penny auctions differ from ordinary auctions. Here are some major differences that you will notice:

Paid Bids at Penny Auctions 
At every penny auction, the bids are paid for in advance, You can only place as many bids as you purchase initially. This is quite contrary to a site like eBay where bidding is completely free. There are a few sites like HappyBidDay that give you a ton of free bids when you register but usually you need to buy bids in advance.

This is perhaps the most important aspect which beginners should really know about. If you want to bid at penny auctions, you need to buy bids. You might or might not win the auction, but every bids needs to be paid for. Thus, the losers of an auction lose more than just the product - they lose money. The upside of course is that if you are indeed the winner, then you will end up with a huge discount in most cases.

The Timer Increment, and Not Knowing When an Auction Ends 
The timer increment is also a confusing feature of penny auctions for beginners. People new to penny auctions think that the timer run down will show when the auction ends. However, at every such site, the timer will be reset every time a bid is placed. This is to ensure that the maximum number of bids are placed, which make the site profitable in the first place.

This is also the reason why you should never bid hours in advance - simply because others will outbid you. Of course if it is a new penny auction, you might do so but don't even try in established penny auctions.

Potential Losses: Part and Parcel of the Game 
In penny auctions, you can always have potential losses. This mostly happens when you fail to win the item you are bidding for. You will spend money on the bids you place and don't win the item, so you are at a loss here. Some sites like Quibids offer a Buy Now feature but even this is restrictive, like not working with voucher bids and overpriced items like Quibids jewelry.

You should know the risk before joining and investing money in any penny auction. Different sites have different rules, so make sure you know them. Be prepared for losses as well. Of course if you follow my penny auction strategies, your chances of a loss will be greatly reduced but no one can ever guarantee a win at a penny auction. Ever.

HappyBidDay Coupon Code: 50 Free Bids!

Here is a HappyBidDay Coupon code for use: MEMORIALDAY (click to activate). If you are not yet a member of HappyBidDay, you should definitely consider becoming a member as it gives much better deals than Quibids, at least for now (far less competition). Do note that the auctions start at $1.01 instead of $0.01 and you can see so many auctions ending within a few bids placed. Plus, almost every product has some free bids attached, so you win the product and also get back your bids in most cases!

The current offer is valid on a 100 bid pack: If you buy 100 bids, you will get 50 bids free! It is valid only till 31st May, so do hurry and join HappyBidDay now!

RockDawg Interview with Diane

This is my interview with Diane, the co-founder of RockDawg. RockDawg is a new penny auction site that has many exciting features that regular penny auction bidders will like. There are two types of auctions - the regular penny auctions and "unleashed auctions". I'll let Diane do the talking now, to tell you how awesome RockDawg is!

Sid: So you have Unleashed Auctions in addition to the regular penny auctions.  Can you tell us more about it?
Diane: At RockDawg we feature both Unleashed Auctions as well as regular Timed Auctions.  An Unleashed Auction is an auction which puts everyone on a level playing field.  Our Unleashed Auctions have no win limits.  Whether you’re a power bidder or a brand new user, everyone has an equal chance of winning.  For example, a bidder could win a $100 gift card with only one bid.  For those who are still big fans of the timed auctions, we are continuing to feature Timed Auctions randomly.

Sid: Why did you choose to have both of these models?
Diane: We chose to make the site more interesting to our users.  In the Unleashed Auctions, every user has the same chance of winning.  Some users prefer this as opposed to Timed Auctions which can sometimes be dominated by power bidders.  Many users feel intimidated and shy away from entering into the auction because they know the power bidders will continue bidding even to the point where the item cost is pushed up to way above retail.

Sid: Do you think in the future, one model is going to be more popular over the other?
Diane: We believe the randomness and the thrill of winning the Unleashed Auctions combined with the various contests we offer will prove to be the most popular with our users.

Sid: Are you planning some other auction models like lowest unique bid?
Diane: We are not planning any other auction models at this time.  However, we like to stay flexible to the needs and wants of our users.

Sid: Any thoughts on the recent lawsuits against penny auctions?
Diane: Our thoughts on the recent lawsuits against penny auctions are that the suit will not prevail.  There is no merit to their allegations.

Sid: Do you think ‘Entertainment Shopping’ is in its nascent stage, or do you think it has already peaked, considering there are so many auctions sites online today?
Diane: We believe that penny auction sites have not hit their peak.  We believe that there is a big demand for entertainment shopping and we feel the industry is headed for additional growth.

Sid: Why do you think a lot of penny auctions just close shop within a few months of starting?
Diane: We believe that a lot of penny auctions close shop with a few months of starting because they have not done their homework prior to opening their doors.  Another big problem is that they do not have enough capital to fund their operation and do not have the proper marketing set in place to direct traffic to their site.  Therefore, they go out of business very quickly.

Sid: What attracted you to the penny auction model?
Diane: The partners at RockDawg were attracted to the penny auction world by the excitement of the industry.  We wanted to provide shopping and entertainment to others from the comfort of one’s own living room.  

Sid: How is RockDawg different from other penny auctions online?
Diane: RockDawg is different from other penny auction in that we have a dog theme and all three business partners have dogs and love animals of all kinds.  Users will sometimes send in pictures of their own dogs to be featured in some of our Unleashed Auctions.  The comments we have received from our users are very positive.  They love seeing their own dogs in the spotlight.  We are known for our fair prices and our honesty.  We excel in customer service and expedient shipping times.

Sid: Tell us something about the people who started RockDawg. How big is your team?
Diane: We are three women who are friends.  All of us have dogs and all of us love animals and shopping.  Each of us bring something different to the table and we all complement one another in different areas of this business, which together makes us a strong team.

Sid: What are your plans for the medium term?  Any exciting news or promotions you can share?
Diane: Our plans for the medium term are to continue with both the Unleashed Auctions and the Timed Auctions.  Who knows, we may try different models in the future…That’s one thing that we can say about RockDawg, we are very flexible and sensitive to our user’s requests.  But for now, we have a new contest coming that should be a lot of fun for our users.  We will be running a dog show featuring 10 pictures of our user’s dogs.  All of the auctions will be will be set to go off at COMPLETELY random prices within a one or two hour time period.  After ALL ten of the Auctions are closed, three dogs will also be randomly chosen for the position of “Win”, “Place” and “Show”.  The “Win” dog will receive a $50 card of choice, the “Place” dog will receive a $25 card of choice and the “Show” dog will receive a $15 card of choice.
So, in addition to winning the regular auction, every winner in this contest also has the random chance to win an additional prize.  It is our goal to have as many users playing together during the same one time period as possible.  This not only makes for more fun, but it also spreads the cost of the auctions among many users.  We think the dog show will be a big hit and so much fun.


Sid: Have you started companies/online ventures in the past?
Diane: Some of us have started business in the past, but nothing as fun and unique as RockDawg.  We are truly enjoying the adventure.  We love our users and the people we meet through this business every single day. We hope to make loyal customers of every single users and to be in business for a long, long time to come.  Rock on!


Check out RockDawg here!