Here"s my review of Plundr:You can win crazy deals!
There has been a boom in penny auctions on the web. No doubt the ideals are fairly straight forward and not actually a scam as a ton of online viewers believe. The different companies providing penny bidding services are able to sell these products at such cheap offers due to the structure of the bidding process. I am most knowledgeable with Plundr as it is the service I use personally. For this particular Plundr.com, you are required to buy "bids", which allows you to bid on the latest products. New users can get special bid packages but after the initial purchase they are not unreasonable either. Here is the foundation to Plundr because every time you are raising the auction one penny, you are actually spending something like 25 cents, contingent on which bid package you purchased.
Because bid on an auction actually costs more than the penny the bid reflects, it is not advised to bid 1000 times on one good. That is because you would be spending 250 dollars just to be able to purchase the item at whatever the price was when you won, if you won. So lets say you won the item at 25 dollars, you are really spending 275 dollars on the product. For this reason you must be very aware of how often you are bidding to always keep in mind the actual price you are paying.
There is no doubt that thousands of people get rediculous deals on Plundr, it just takes a little effort and practice. In the example above, imagine you are bidding on an XBOX 360 with Kinect, paying 400 dollars would be a pretty darn good deal. But if you bid 100 times on a 100 dollar gift card you are failing before you even have a chance to purchase the product. Another, piece of information you must be conscious of is how many others are going to bid on a particular product you are interested in. Just as a point, if a 32" 1080i computer flat screen is selling for $27.56, you can guess pretty confidently that a ton of people are bidding on the television. Obviously with thousands of other competitors bidding, the less likely you are to be the winner. So this is always important to keep in mind. There are always some consumer electronics that are skipped over and can be won at decent deals due to the lack of competition. Some users of Plundr think its the best idea to, don't bid on the main fad auctions.
Less valuable items are usually easier to win as well. While it might not be the coolest this year value might not be as great, but you can walk away from many of these less valuable auctions earning a profit. Plundr provides many gift card auctions, where you can win 50 to 100 hundred dollar gift cards for as low as 2 dollars. Taking a look at the numbers, if you spent 10 bids at 25 cents, you just won a 50 dollar gift card for $4.50. You can't really complain about that, and you can find these offers quickly with higher success.
There is a buy it now option, but I really don't like this style of auctioning, and I believe it doesn't provide much of an incentive to use. I'd rather go buy a cheap, guarenteed electronics or what not from Amazon then. This is not the idea of auctions, we want cheap prices! Also I another point I can recommend you do if you want to bid is always wait for the last thirty seconds to start bidding. The time does not jump back after you bid during the final 30 seconds making those bids have a more real-time importance. The amount of time added before the last 30 seconds due to each bid varies by the auction so I can not give you a definitive number, but its usually under 30 seconds a bid. Saving your bid for the last second is a strategy many other Plundr members utlize as well so it can be difficult to cram. Who will be the last bidder to win the treasure!
Plundr is a little overwhelming at first, but after a few auctions you'll see its pretty easy to use and manage. Just use the simple strategies I have wrote about above and you should hunt down and win some bids on great products. Sure, some of you out there still thinkI still understand these penny auctions seem to be a scam, yet honestly your just missing out. These are serious auction companies that make dollars off the number of bids, not the total price sold, so do not be afraid to give them a try. I focus on winning at Plundr but there are many others such as QuiBids, Bidcactus, Bidblink and countless others. Just search through Google and Yahoo to find other comparable auctions. I just know what I have used, and I hope this information has been of use to you. And good luck winning some great deals.
Because bid on an auction actually costs more than the penny the bid reflects, it is not advised to bid 1000 times on one good. That is because you would be spending 250 dollars just to be able to purchase the item at whatever the price was when you won, if you won. So lets say you won the item at 25 dollars, you are really spending 275 dollars on the product. For this reason you must be very aware of how often you are bidding to always keep in mind the actual price you are paying.
There is no doubt that thousands of people get rediculous deals on Plundr, it just takes a little effort and practice. In the example above, imagine you are bidding on an XBOX 360 with Kinect, paying 400 dollars would be a pretty darn good deal. But if you bid 100 times on a 100 dollar gift card you are failing before you even have a chance to purchase the product. Another, piece of information you must be conscious of is how many others are going to bid on a particular product you are interested in. Just as a point, if a 32" 1080i computer flat screen is selling for $27.56, you can guess pretty confidently that a ton of people are bidding on the television. Obviously with thousands of other competitors bidding, the less likely you are to be the winner. So this is always important to keep in mind. There are always some consumer electronics that are skipped over and can be won at decent deals due to the lack of competition. Some users of Plundr think its the best idea to, don't bid on the main fad auctions.
Less valuable items are usually easier to win as well. While it might not be the coolest this year value might not be as great, but you can walk away from many of these less valuable auctions earning a profit. Plundr provides many gift card auctions, where you can win 50 to 100 hundred dollar gift cards for as low as 2 dollars. Taking a look at the numbers, if you spent 10 bids at 25 cents, you just won a 50 dollar gift card for $4.50. You can't really complain about that, and you can find these offers quickly with higher success.
There is a buy it now option, but I really don't like this style of auctioning, and I believe it doesn't provide much of an incentive to use. I'd rather go buy a cheap, guarenteed electronics or what not from Amazon then. This is not the idea of auctions, we want cheap prices! Also I another point I can recommend you do if you want to bid is always wait for the last thirty seconds to start bidding. The time does not jump back after you bid during the final 30 seconds making those bids have a more real-time importance. The amount of time added before the last 30 seconds due to each bid varies by the auction so I can not give you a definitive number, but its usually under 30 seconds a bid. Saving your bid for the last second is a strategy many other Plundr members utlize as well so it can be difficult to cram. Who will be the last bidder to win the treasure!
Plundr is a little overwhelming at first, but after a few auctions you'll see its pretty easy to use and manage. Just use the simple strategies I have wrote about above and you should hunt down and win some bids on great products. Sure, some of you out there still thinkI still understand these penny auctions seem to be a scam, yet honestly your just missing out. These are serious auction companies that make dollars off the number of bids, not the total price sold, so do not be afraid to give them a try. I focus on winning at Plundr but there are many others such as QuiBids, Bidcactus, Bidblink and countless others. Just search through Google and Yahoo to find other comparable auctions. I just know what I have used, and I hope this information has been of use to you. And good luck winning some great deals.
