Penny Auction Review: Bid Oink

bidoinkWelcome (back) to the world of online penny auctions! Before we look at who and what bidoink.com is and (what they call themselves, ‘Bid Oink’), let’s go over what exactly is an online penny auction.

To sum it up, its a fun game that costs money to participate. Supporters in the ‘for’ column would compare it to a carnival game at you local state fair. The ‘against’ folks would accuse it of being nothing more than thinly-disguised online gambling. The truth, somewhere in the middle, but still legal, in the eyes of the US government.

Already know the in’s and out’s of the online penny auction industry? If you’re a seasoned player, go ahead and skip on down to the review for bidoink.com .

Online Penny Auctions – NOT you’re Granny’s Auction

As mentioned above, online penny auctions can be an interesting game, a fun way to pass the time and scratch that competitive itch you might have, and win some cool prizes along the way.

In simple terms, every time you participant in an online penny auction, you must pay for each bid that you make, AND pay for each one of your bids at the end of the auction, NO MATTER if you won or NOT (forgive me for the caps- just want to make this point clear as day). Unlike a traditional auction site (i.e. e-Bay), where if you lose an auction, you are not obligated to pay the money that you bid, in a penny auction you MUST pay for EACH bid you make.

Hope that above paragraph didn’t come off as too negative. In reality, penny auctions can be quite fun, and the prizes quite cool (winning is always fun, is it not?). One great detail with online penny auctions is that even if you LOSE the auction, you can still purchase the item, and get this- the money you have already bid (and must pay) can go towards your purchase.

Let’s get one thing out of the way, straight off the bat: unless you’re living in the good ole’ U-S-of-A, this article might not be worth your time, as Bidoink only does business in the U.S. Heck, it only does business in the continental U.S. So what make this site so special, other than the snarky pink pig (hence, ‘oink’) and the hot pink background?

Having said that, the price listed on online penny auction sites are usually higher than what you’ll find on a retail store’s website (take amazon.com, for example). What’s more, many critics complain that the websites use ‘bidder bots’ to automatically bid- and since with every bid more time is replaced on the countdown clock, this allows more bidders to bid more money and the website then in turns makes more money. Many of the websites that employed ‘bidder bot’ technology have now gone belly up, but rumors persist some such sites are still out there.

But hey, just like with the pellet rifle or baseball and milk bottle games at the carnival, playing to win the item/prize is a lot more exciting then clicking and purchasing, si senor? It’s all about being conscious of how the game is played and knowing that just like at the carnival, you’re going finish playing with less money in your wallet (or on your credit card) than when you started.

What’s Bidoink.com all about?

This websites functions just like your average penny auction site. Let me rephrase that- just like your average trustworthy and fair penny auction site. Joining the site is pretty much hassle-free, and as an extra caveat- it’s sans membership fee. You just buy a few bid packs and are then allowed to participate in the auctions. They also have a ‘auto-bid’ feature which is nice, so you don’t have to be glued to your computer (or this one particular site, at least), to make sure you stay in the running for a particular item on which you are bidding.

They also have the classic ‘buy now’ option. As with many quality penny auction sites, you can use the money that you spent on losing bids towards the purchase of that item.

One key aspect to point out is that Bidoink.com is not simply a ‘penny’ auction site. There are auctions on this site that go up much more than 1¢ per bid; you may find certain auctions where up to 20¢ are added to each successive bid.

The Pro‘s

t-upThere are more than just a few possible advantages that might catch you eye on Bidoink. One thing that really stands out is that they are keen and committed to being honest about how their penny auctions function. They provide all the key info you need to know, so as to enjoy your experience, right there on their Help page.

Did we mention that’s it’s free? There’s NO membership fee to sign up.

What’s more, the price of each bid is pegged at just 50¢, so it’s very reasonable. You can also get 25 free bids for every friend you convince to sign up for BidOink. The Buy Now feature is also a relief, so that when you participate in an auction for an item you really want, then one way or another you can get that item at a decent price.

The Con‘s

t-downEven though the folks at Bidoink.com have earned a strong reputation for reliable shipping & delivery, they’ve still got a ways more to go as a penny auction site.

The grand majority of items on this site are S-T-I-L-L just gift cards. Possibly adding to your annoyance, you’ll need to pay for shipping. The top penny auction sites are beginning to offer free shipping for certain items, and Bidoink isn’t ready yet to run with those dogs. However, as mentioned above, even though you need to pay for shipping, their reliable delivery is one of the company’s strong points.

Let’s sum it up

Bidoink.com is a cute site and they do play fair and clean- they meet their mantra of wanting to be upfront with their members.

In comparison with other sites, you might be quite happy with your time spent on this site, and the results as well. There aren’t too many top-tier items available and hence you’re probably looking at less competition in the auctions. That means you’ve got a better chance of winning in each auction that you bid in, and these guys are well-known throughout the business for their top-notch (if not yet free) shipping.

To sum it up, participating in auctions on bidoink.com will help you hone your skills while having fun at the same time. When you’re ready to go after bigger fish, you’ll be armed with experience, skill and strategy to start bidding on other sites with bigger prizes.