|Official Website – Beezid|
|Socially Connected With Facebook & Twitter|
|Buy It Now – Yes
|Founded – 2009|
Founded back in 2009, they also happen to be one of the most experienced penny auction sites around, having bought the very popular and one of our favorite sites ‘skoreit‘ their userbase continues to grow daily and shows no signs of slowing down.
But do they live up to the hype? can you really expect to win an Ipad for $30 like their advertisements say you can? and the most important question… will you actually save money bidding on beezid? In this review we will discuss just how easy it is to win on Beezid and more importantly look at the legitimacy of the site.
We’ve had a team of five testing beezid over the last 6 – 7 months and we came to one conclusion.
Beezid is one of our favorite penny auction sites, the sheer number of items available was second to none so the ease of winning somewhat surprised us, we expected to see many auctions flooded with bidders due to Beezid’s massive userbase. However, this wasn’t the case as we touch on later.
Here is a response from askville
Beezid is a whole new fun and exciting way to get the absolute best deals out there. Beezid offers a thrilling spin on auction shopping by offering Penny auctions, Cherry auctions and our exclusive Reveal auctions where the best strategy gets the best deal. Beezid’s software allows you to take advantage of getting the best discounts over and over again using great bonuses and incentives. Beezid is also a great tool for you to make money!
And a question from yahoo answers about the legitimacy of the site:
I have won a Wii and a computer so far. I just won tonight (Oct 28) so I don’t have the actual items in hand. I paid for the items with Paypal though, so if it isn’t legit, I will at least get my money back. Also, I heard about it today in an ad on the Howard Stern show. Its costs thousands of dollars to advertise on his channel, so I have a feeling it will be legit. Good luck bidding!
There is no doubt that when you win an item on Beezid you will receive it. For a penny auction site not to ship out an item that you rightfully won is outright fraud and they will get closed down by the ftc in no time. We’ve won over 20 items on Beezid and once we won the item was received in the time stated on the auction page. So there is no question that Beezid is legit.
In a penny auction, site owners control the items up for bids. Just like a traditional offline auction, bids prolong the action by anything from 10 seconds to two minutes. But unlike other auctions, penny auction bids cost money — before you can bid, you must buy what amounts to 50 to 100 times the one-penny increment each bid represents.
Source – wired
If you don’t know much about penny auctions and want to learn more check out our penny auctions help section.
Now, determining how easy it is to win on a penny auction site is the most important thing to find out before signing up, you don’t want to spend a fortune on bids and end up not winning anything, nobody wants that. The truth is that Beezid is surprisingly easier to win then some of the smaller penny auctions.
The reasons for this is simply the amount of items they have available, but also the types of items as well. Beezid is one of the few penny auction sites that have cars up for auction and this can be a great time to bid on other items because everyone will be looking at the cars.
Here is an example, this item was on at the same time as a car and nobody was interested in it. This reason right here is why we did so well on Beezid. Don’t always go for expensive items… thats what everybody else does!
Again, as we have said before… choosing the right items and having a good strategy will help you tremendously on Beezid. Here is a great post about bidding Algorithms although it can be a bit long winded.
Additional Strategy Considerations
In addition to considering the above data, we had to determine how to appropriately use all of the features QuiBids provided in order to construct a strategy. Therefore, we conducted some analysis of the following features:
Using Buy Now
Because the Buy Now feature potentially enables us to minimize our losses, we need to consider when it is appropriate to make use of this feature. If we estimate the retail value of an item to be 0:8 times the item’s value price 5, we should then use the Buy Now feature only when the cost of the bids we have spent exceeds 0:2 times the item’s value price (plus the cost of shipping). Then, when we use the Buy Now option our loss will be 0:2 times the value price plus shipping, and otherwise our loss will be less. This is the rational way to bid as stated by Stix.
There are several ways to obtain the ability to place a set number of bids for free (called voucher bids on QuiBids), although they are aquired primarily through auctions where they are the item oered. However, voucher bids do not count towards the Buy Now option and the methods of obtaining them either require on average spending more bids than they yield or yield an extremely small number of bids one time only. We will therefore not consider using or purchasing voucher bids in our algorithms.
Having the right strategy is very important, there are some good features on Beezid which when used correctly can really help increase your chances of winning, we will post a Beezid strategy guide within the next few days.
The buy it now feature – our favourite feature among penny auction sites that can help you save quite a lot when used correctly
Buy It Now (BIN)
Beezid’s Buy It Now (or BIN) is true risk-free bidding. This feature allows you to purchase the item you are bidding on and get back every single bid you placed in that auction, allowing you to use them again for your next auction. Bidding has never been safer.
Anyone logged in can use the BIN feature except for the winner of the auction.
BIN is available on most auctions and can only be used once per auction. Look out for this icon:
Three quick advantages to using the BIN feature:
- You have up to 24 hours after the auction has closed to use the BIN.
- When you do, the bids used in that auction are automatically put back into your account.
- You can use the BIN feature on auctions that you didn’t even place a bid on!
Source – Beezid
Balloon Auctions start out with a certain product or Bid Pack, just like any other Beezid auction. The difference is, every bid placed brings the auction closer to changing, for the better! When a certain amount of bids are placed, the product will progressively change to something new and of a higher value. Turn a Bid Pack into Jewelry! Or an iPod into a iMac! How about a $200 Gift Card into a 55” TV!
We have quoted the balloon auctions because we feel this is a great addition to the penny auction industry, this type of auction is unique to Beezid and we used it to some success.
The reasons for this in our opinion is the fact that many bidders will just stick to the traditional penny auctions, and thus leaving these newer auctions with much less competition.
This particular auctions works very well when you start bidding on an item that has low value and eventually it could turn into something pretty special!
Another recently added feature which we quite like is ‘power bids’
What’s a Power bid?
Power bids are your secret weapon for beefing up your bid bank and turbocharging your Bid DNA. They’re similar to Bonus bids, in that you use one Power bid for every five Regular bids you place—which means right out of the gate they increase your Regular bid pool by 20%.
Power bids also have their own special auctions. There are two flavors: “Ratio” auctions where Power bids convert more quickly (e.g. 3:1, 2:1, or even 1:1), and Power Bid First (“PBF”) auctions where Power bids deploy before any other bid type.
But that’s not even the cool part!
Power bids are a great way to conserve your Bonus bids, because they convert first. That means if you have a supply of both Power bids and Bonus bids, you’ll be able to use your Power bids first and keep your Bonus bids in reserve.
From beezid blog
However this is a new feature and it seems to be quite hard to acquire Power bids this time and as they are similar to bonus bids.
When you win an item on Beezid, the order will go through to one of their suppliers. Because of this, the delivery times can take longer then normal, the average delivery time we got was about 3 weeks which isn’t bad but it certainly could be better.
The shipping fees are very dependent on the item you win, a HDTV will cost about $10-20 usually and smaller items are about $5. So keep this factor in mind when it comes to bidding.
Shipping fees differ on the type of item(s). All of our shipping costs appear at the bottom of the auction details page. Those shipping rates apply to delivery inside the continental U.S. and Canada.
Estimated Delivery Time
Most of our items are shipped directly from our suppliers as soon as we’ve received your payment. Although delivery time can vary depending on the item(s), most of them will take between two to three weeks to arrive, some even sooner.
Tracking Your Item(s)
If, at any point, you’d like to find out the status of your item, contact our Support Team and we will take care of tracking it for you. Please be sure to include your full name, username, and auction ID of the item(s) when contacting us. You can also use the tracking number provided in My Account → My Wins to get a status update on your shipment through the carrier’s website.
So it’s pretty clear Beezid is one of the leading penny auction sites, you can take comfort from the security and legitimacy of the site. But also the fact that despite being a large site with a big userbase, the ease of winning was surprisingly good. The shipping speed and fees could be better however. Overall though we like the way that Beezid is trying to be innotive by creating different types of auctions, we found these to be a very different yet fun way of bidding.
So if you’re looking to join the trend and get into penny auctions then Beezid is a great place to start, upon signing up you will get 10 free bids which is always great, as well as various videos which will help you get to grips with how their platform works.
Here are some of the winners from Beezid:
My experience with Beezid has been good. I have won 4 auctions since I started bidding a few weeks ago. Beezid values my business and goes above and beyond to help me to be successful on their site.
I have been satisfied with all aspects of Beezid including, but not limited to the site, customer service and personal service from the call center staff. – Beezid Goes Above and Beyond!
And from Dustin R:
I have had an excellent time buying on Beezid. In a matter of hours, I won everything you need for a great camping trip; a huge tent, two-way radios, a kayak, a wonderful Canon DSLR camera, and most importantly a coach purse to bribe my wife so I could stay on the lake all weekend.
But that’s not all, I have won everything pictured plus a shaving kit, a tactical pen, and a Nintendo Wii. After calculating it all up, I was able to get everything for less than the retail cost of the Canon camera. You just can’t beat a deal like that! - Big Winner on Beezid and in Life!
Heres a video from Lindsay Lohan