If we added up all the items that we have won on penny auction sites, gift cards would be top of the list by quite a distance. There are many reasons for this, such as gift cards being very common, it’s rare that you won’t find a gift card up for auction, if you can’t find one then your probably not using the best penny auction site. But mainly because gift cards are much easier to win as we will explain.
A gift card is a restricted monetary equivalent or scrip that is issued by retailers or banks to be used as an alternative to a non-monetary gift. Highly popular, they rank as the second-most given gift by consumers in the United States (2006) and the most-wanted gift by women, and the third-most wanted by males. Gift cards have become increasingly popular as they relieve the donor of selecting a specific gift. In Canada, $1.8 billion were spent on gift cards and in the UK, it is estimated to reach 3 billion (GBP) for 2009 whereas in the United States, about $80 billion were paid for gift cards in 2006. The recipient of the gift card can use it at his or her discretion within the restrictions set by the issuing agency.
It’s pretty clear why you will always see gift cards up for auction because people love them! however, for some reason we found that not many people bid on them which is strange considering what we just mentioned. We feel this is simply because gift cards aren’t worth much, bidders would rather take their chance and win a brand new television then win a $20-30 gift card and we totally understand that.
But that reason right there, is one of the main reasons many people don’t win anything on penny auctions, they go straight to the auctions where everyone else is! if you look at the winners page on penny auctions, do you ever see Ipads,televisions,cameras etc go for less then $2? the answer is simply no, occasionally someone will get lucky. If you look for the wins that go for under $1 then bidding on similar items is a great idea.
NEW YORK (CNNMoney) — Gift cards continue to be the most popular holiday gift, despite the fact that many recipients turn around and trade them in for cash.
The majority, or 57.7%, of shoppers say they’d like toreceive a gift card this holiday season, according to the National Retail Federation. And most probably will. Eighty-percent of people will buy gift cards this holiday, up from 77% last year, according to the NRF’s report.
Holiday shoppers are expected to spend an average of $155.43 on gift cards, up from $145.61 last year and the highest amount since 2007. This season, total spending on gift cards will reach $27.8 billion, the NRF said.
This is the reason why we always try to win gift cards, sure they may only be worth 30 bucks but your chances of winning are far greater, a big bonus though is that because the items have a low RRP, you can really capitalize on the buy it now feature. As it wouldn’t take long to use $30 worth of bids.
You will usually find gift cards for big name retailers such as walmart, on the big penny auction sites such as Dealdash, Beezid, Quibids etc, they often list more then 30-40 gift cards at one time so it is rare that you won’t find one that you are looking for. If you can’t then either wait one comes up for bid on another lower value item, sometimes penny auction sites will list very strange items that nobody would really consider, these are the best items to bid on if you want to win.
Each day’s events will feature member favorites but Beezid promises to add in a few extras that have yet to be seen on the site. Some of these include the largest TV auction, topping the 80″ previously offered, as well as the largest Shopping Spree auction, with the last one being $9000.00.
Another never-before-seen event is the 99 Cent Price Freeze, where all items will see their auction prices frozen at 99 cents, ensuring that members don’t pay a penny more than that price, regardless of the size of the item. There will also be a repeat of last year’s Best of 2011 with the Best of 2012, featuring all of the various auction types that Beezid offers including Bids-Back, Balloons, Ghosts, and more.
Beezid is great choice when it comes to gift cards, they have a very big selection which should suit everybody. So with all that said, we hope that you take this into consideration when you next to go bid on an item, gift cards are a fantastic choice, but other low value items are also great too! so keep bidding!