Recommended NZ | Guide to Money | Gimme: Competitions - Giveaways

Auction Shopping Beyond eBay

Contributor:
David Silversmith
David Silversmith

Do you wonder how some people mange to buy brand new PS3, XBox 360, Wii and other gadgets for well below the recommended retail price?  Well on line bidding sites are one key and NZ is a hot bed for bidding.

This is not another gimmick or infomercial, you really can save hundreds of dollars at online bidding sites. These sites all work by allowing you to bid for products and gadgets online. When the clock runs down, whoever the winning bidder buys the product for that price. But there is a catch and that is you have to pay to bid. To use these sites effectively and not waste all your money on bids you have to learns the ins and outs of how they operate and which items get the most bids. 

It is key to have a plan of attack where you set yourself bidding limits and the maximum bidding costs that you are prepared to spend for each item.

Planetbid

PlanetBid is based on a model known as a “Penny Auction” which was developed in Europe a number of years ago. Users start by purchasing bid Credits that come in different pack sizes. Typically, the more bids you buy, the cheaper they are. The starting prices of all auctions are $0.00 with NO RESERVE. When a bid is placed on an item, the price increases by only a few pennies and a small amount of time is added. When the timer hits zero, the highest bidder wins the item; usually at up to 90% off retail price!  PlanetBid got it's start in Australia and New Zealand and has since expanded into the UK as well.

Every item that is listed on Planet Bid is brand new and comes with a 100% satisfaction guarantee. Also, 10% of the final value of each auction is donated to a charity of the user’s choice.  The downside is that the range of products is less than on other sites. 

Bidrivals

While Bidrivals operates in New Zealand, it also runs in 25 other countries.  It operates just like Planetbid, charging a flat rate of $1 NZD per bid.  Recent auctions like this Wii Fit or this VISA card highlight some great deals.  Bid Rivals has the best range of products to choose from in categories that include: Audio & iPods, DVD and Bluray, Gaming Consoles and Games, Computers, Televisions, Mobiles and more. Check out this video for more details on how Bidrivals works.  

The comments on this video provide great insights from those who love these sites and those who have felt ripped off. You have customers at both ends of the spectrum.

BidMadness

BidMadness works differently that the other online bidding websites. In many ways this service is focused on avoiding the sniping - last minute automated bidding - that is heavily used on eBay. BidMadness auctions are blind auctions, where the auction close is determined by a Maximum Number of Bids received. This means you can't wait until the last moment to place a bid that wins the auction.

With BidMadness,you enter what you think the highest unique bid will be, making sure it’s within the limits of the Maximum Bid Amount. If you have the highest unique bid when the auction closes, you win that item. The twist is that the winner is not necessarily the highest amount but the highest unique amount. Say three people bid, two bid 200.00 dollars and the third person bids 50 dollars - the third person wins with the highest unique bid. While BidMadness is open to New Zealand residents, it favors Australia.  To start bidding on Bid Madness you need a  valid Australian or New Zealand billing and delivery address. But bidding is in Australian ($AUD) Dollars only and there will be a shipping charge for deliveries outside Australia.

 

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