Part 2 Are Penny Auctions A Scam Or A Bargain

Jan. 12, 2010 - PRLog -- Pitfall #4: Cheap Beginner Auctions
Beginner auctions often have junk items listed price being around $20. ( but not all sites are alike, Swoobug, ubids,bidcactus are among the few with decent items )Those items tend to sell for $5 on amazon or walmart, which is the price the site will charge just for shipping. Even when higher priced items like a wii or xbox 360 become beginner auctions, there's so many people that haven't won anything that it usually matches the prices of the regular auctions.
Pitfall #5: Bidding for bids / product competition
Most penny auctions limits supply of items and keeps the quantity of users super high through constant adwords bombardment, more often of consoles, cameras and apple products. For that reason you're more likely to win a $1200 refrigerator cheaper than a $170 nintendo DSi. There's a lot more people searching online to order a console than to get a massive fridge by mail. Many users probably join for the single interest in a particular item. One item all bidders have a demand for is more bids leading to some of the most retarded wastes of money you won't see anywhere else Here's the worst: 300 Bids sold for $77.45 penny auction. When it's a penny auction just take out the decimal in the price and that's how many times people voted. That's right, 7745 bids on an auction selling 300 bids earning  $5808.75. But again whats the point, the winner most likely spent $20.00 in bids and won . Here is a worst case senario, a LCD Flat screen TV selling a best buy for $2000.00 is up for auction and you are in the market for such a TV. You spend $1200.00 to win the TV, did you win or Lose. Well you didn’t get it for a buck but you also didn’t go to Best Buy and shell out 2 grand either.. People tend to look at how much the auctioneer made rather than how much of a bargain they got.

Generalities
Bid Butlers win about 56% of the time. Since many auctions are nail biter auctions
the bid butler success rate is probably higher.
The average price an auction ends at is $38
Including bids the winner pays an average of $66
The average amount  earned per auction is $437, not deducting the price of the item. This is a bit unfair but suggested retail price is not reliable in assessing their actual costs.
118 is the average number of bids the auction winner puts in where end price > $100
Nailbiter auctions tend to sell for more.
The people that have won many auctions tend to use bid butlers most often

Bid butlers definitely have a huge success rate for the Wii, but it's not for the faint of heart .Day of the week and hour of the day do not make a statistically significant difference. In general the earlier you get in the game the less chance you have of winning, unless you're the lone bid butler on a fairly unpopulated auction. Get in late and you pay more but waste less in bids and have a better chance of winning. Remember Your win is many people's loss. But again does the winner realty care? Think about this on your way to the store to purchase your next set of lottery ticket or scratch and wins!
try visiting these sites and compare the products offered and options to win and see for your self

www.bidstick.com
www.swoopbug.com
www.bidcactus.com
www.bidrodeo.com
www.bidz.com
www.rockybids.com

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We are a penny auction site offering Name Brand items for auction at an almost 95% savings from retail store prices. A most significant difference between swoopbug and most other auctions is we deliver all our merchandise from our own warehouse..