**NOTE: Prizes4Pennies will launch on Monday, July 26th.**
My name is Charles Edgar, and I run a new penny auction site called Prizes4Pennies. I don't know if any of you remember, I used to run the FCA Network, an old freebie site network, from 2005 to 2008. I really enjoyed all of the time I spent running those freebie sites, as well as the time I spent getting to know people here on A4F. So I'm glad to be back, and now I think I have another cool site to bring to you guys.
If you're unfamiliar with penny auction sites, here's how they work: Auctions are held, just like on eBay, and the price goes up $.01 per bid, and the last bidder wins the prize. However, on this site, you have to purchase bids to use in the auctions. They are sold in bundles called bidpacks. Through the sale of these bidpacks, we are able to auction off items like iPods, electronics, gift cards and other things for around 90% off the retail price. This is the basic gist of penny auction sites, but I've made a few changes to the typical penny auction model. Here's what makes my site different:.
The thing I'm most proud of on my site is what I call Hot Bids. It's a new type of bid, different than typical bids (called "Regular Bids" on my site). My Regular Bids start at $.80 per bid, which I think is about the going rate for these type of bids right now. But I offer Hot Bids for a greatly discounted price, as low as $.35 per bid! Here's what makes Hot Bids different: these bids are only valid for a certain period of time. In other words, they expire after awhile, and the price of the Hot Bids varies based on how long they last.
I like to think that I am offering my users a challenge, playing another game. For instance, 10 Hot Bids that expire 12 hours from purchase are sold for $5. Do you think you're up to the challenge of using those 10 Hot Bids before the timer runs out? Or if you really want a challenge, you can get 25 Hot Bids for $11.25, or 50 Hot Bids for $17.50. It's another way to enjoy penny auctions, and this time it's much cheaper to play.
I think Hot Bids are best used when you see an item that you really want, and that particular auction is ending relatively soon. Why spend money on a Regular Bid bidpack when you can get Hot Bids, which work just the same as Regular Bids, at a greatly reduced price?
In addition to Hot Bids, we have a new feature called All-You-Can-Bid. An All-You-Can-Bid package allows you to participate in the All-You-Can-Bid auctions. These auctions are similar to auctions found on eBay, you can bid as much as you want without using any Regular or Hot Bids. A couple of times a month, we'll devote a day to All-You-Can-Bid auctions. If you want to partake in these auctions, all you need to do is purchase (or win) an All-You-Can-Bid package, and you get an unlimited number of bids to use for the whole day.
Plus, we routinely offer bonuses on our auctions. We have the Win Bonus, which rewards the winner of the auction with 1/3 of the bids they used to win that auction. There's also the Runnerup Bonus, which gives the last two users to bid on that auction without winning 1/3 of their used bids back. And finally the Early Bird Bonus. The Early Bird Bonus gives you back any bids that you placed with more than four hours left on the countdown timer.
I set out to try and make a fun, new penny auction site that embraces the inherent fun in penny auctions. I hope I've successfully done that, and that you all enjoy my new site, Prizes4Pennies. My email address is firstname.lastname@example.org and I can be reached by phone as well (the number is on prizes4pennies.com). I look forward to getting to know a lot of you, please don't hesitate to reach out to me for anything.
Charles Reid Edgar
P.S - Special deal for A4F members: All new users get 5 free bids just for signing up. But A4F members get an extra 5 free bids by using this link to signup: http://www.Prizes4Pennies.com/registration.html?ref=2