What is a penny auction?
Penny auctions are often referred to as entertainment shopping because they are both fun and exciting. What makes a penny auction different from a regular online auction is that in a penny auction users pay a small, non-refundable fee for each bid they place. Bids are prepaid and are available for purchase in bid packs prior to bidding. Every time a bid is placed, it increases the price of the item by one cent, or penny; hence the term penny auction. There may be exceptions, but generally items at a penny auction open for bidding at $0.00.
Penny auctions are also clocked auctions, and each auctioned item has its own countdown. If a bid is placed in the last 30 seconds of the auction, more time is added to the clock to give another interested bidder the opportunity to place a bid and take the lead to win the item.
If you have placed the last bid and the countdown goes to zero, you win the item at a massively discounted price.
If you have any questions, comments, or anything else please be sure to contact us.
How does PennyAuction.ca work?
The first step is to complete your free registration. We give you three free bids jut for registering!
The second step is purchasing a bid pack via one of our secure payment options. Once the payment is processed, the bids are automatically added to your account and are ready to be used.
The third step is to find an item that you’d like to win, click the ‘Place Bid’ button and have a great time. Click on the “How It Works” link in the green navigation bar for further details.
What is BIN and No BIN
As a default all auctions has BIN or Buy It Now unless it says in the item title No BIN.
BIN means that you can use the option to Buy It Now using all the bids you placed on an auction towards a discount to buy the item. For example if you placed 50 bids worth $25 on an item valued at $50, you only need to pay the remaining $25 to get the item.
Why would you buy the item any where else when you know you can have it here a lot cheaper saving up to 98% or worse case buy it retail price. On some items the BIN price is a little bit higher than the retail price.
On a $25 gift card with a BIN price of $32 means that the possible most you can loose is $7 dollar. A very low price to have the opportunity to get for a few dollar. BIN makes it risk free bidding on the item where the BIN is the same as retail and a money saver when the BIN is a bit over retail.
If the item has the BIN option, you can see all the details on the item detail page accessible when you click on the item picture.
Please contact us using our contact page details if you need more information about the BIN.
What are the Win Limits
Our Win Limits are set to:
2 Per Day
7 Per Week
15 Per Month
2 Items that retail at or above $199 within a 15 day period
1 Item that retail at or above $450 per 30 day period
2 items that retail at or above 199 within a 15 day period
If you have any suggestions or comments about our Win Limits please be sure to let us know.
How can I get Free Bids?
Facebook: Everyday on our Facebook page we have a contest where you guest the ended price of the day's featured auction. The closest one win 5 bids and if you guess it right on, you get 25 bids.
Referral Links: If you login to your account, under Referral you will find your personal affiliate link. Get your friends to register with this link and you will automatically receive as a thank you bonus 10% of the bids they purchased. If they bought 100 bids, you get 10 for free to win anything you like. Those bids are just like the regular bids you would buy from a bid pack.
Pictures and Videos: When you receive your item or gift cards and would like some extra bids. Take a few minutes to take a picture of the item. So people really know that this item came from us, please write on a piece of paper something like: "Thank you PennyAuction.ca" and place the item beside it when taking the picture. Having you in the picture holding the item and the memo is even better. We will give you 10 bids to thank you.
Reviews: If you could please take the time to write a review on the many sites that offers us a special place for our review we will give you 3 bids to thank you for taking the time to be so nice. Here are some sites that will accept our reviews. Click on the link for direct access to the review section:
We are verified from these guys too.
We are a verfied Penny Auction site on PennyBurners.com
Please register with your Facebook otherwise it doesn't seem to work.
Spread the word: If you find a blog, a forum, or penny auction related article that will let you comment or post and write something helpful about our site we will give you 4 free bids to thank you. If you could mention that we are open to Canada and the US, offer service is French and English, offer the Buy It Now feature, are verfied honest from PennyBurners.com and other independant sources, offer superior customer service would be very much appreciated. Please no lies, if you do not believe we provide all of the above please don't post it. We want real and honest reviews. If you are going to do in more than one site, please do not use the same text.
In all of the above, email us the links and we will give you the thank you bids.
If you have any questions please let us know.
How does PennyAuction.ca make money?
Our profit comes from the amount of bids placed. Here is an example for a $100 prepaid credit card. At $.50 cents per bid, we need 200 bids to brake even. If the item sales for $2 we brake even; if it sells for less we loose money. The winner will also have to pay the $2. If the item sells for $3, we make a $50 profit, and so on. PennyAuction looses money on more than 50% of auctions, but PennyAuction overall turns a profit.
Who am I bidding against?
PennyAuction.ca is currently only offered to Canadian and US citizens. As we grow, we will offer our savings to other countries.
Employees or any immediate family member (defined as parents, spouse, siblings and children) and any person residing in the same household of an employee of Premium Auctions Inc. are not eligible to participate in any auctions at PennyAuction.ca under any circumstances.
How owns PennyAuction.ca?
PennyAuction.ca or PA is owned and operated by Premium Auctions Inc. based in Vancouver, Canada.
What is the “Buy it Now” feature?
The amount you spent trying to win an item can be used as a discount towards purchasing the same item at retail price. For example, you place 20 bids at $.50 cents on an item that retails at $50. You have 24 hours following the end of the auction to buy the item for $40, which is the retail price minus the 20 bids you had placed. The Buy it Now feature makes bidding on pennyauction.ca a low-risk venture. You can also use the “Buy it Now’ option during the auction, but then you will no longer be able to participate in that auction. You never have to walk away empty handed from auctions with a Buy it Now option.
What is the Bid Butler?
The bid butler is a feature on Penny Auction that will auto-bid on your behalf based on your preset settings. Settings include how many bids to place and the maximum amount that you are willing to spend. The Bid Butler gives you the opportunity to be away from your computer while still competing for great. It is also a good way to make sure you don’t loose an auction due to a poor internet connection or a distraction. You can find the Bid Butler on the product details page.
Bids and Points
The bigger the bid pack, the more extra bids and the more redeemable points you will get.
20 Bid Pack = $10 Free Bids = 0 Redeemable Points = 0
50 Bid Pack = $25 Free Bids = 2 Redeemable Points = 5
100 Bid Pack = $50 Free Bids = 6 Redeemable Points = 10
200 Bid Pack = $100 Free Bids = 14 Redeemable Points = 20
500 Bid Pack = $250 Free Bids = 28 Redeemable Points = 50
800 BId Pack = $400 Free Bids = 60 28 Redeemable Points = 80
Our redeemable section isn't completed yet and will send a newsletter when it is.
How much do bids cost?
Bids are $.50 cents CAD, and they can be purchased securely in various size packaged ranging from 20 bids for $10 to 800 bids for $400. Every time you purchase bids you receive points that you can use to redeem prices. The larger the bid pack you buy, the more points you get. When you log in you can see the numbers of points you have accumulated above the green navigation bar. Click on “Redeem” in the green navigation bar to redeem your points for prizes!
How do I buy bids?
Once you have found the item that you would like to win, simply click on the “Place Bid” green button to place a bid. If the countdown is under 30 seconds, it will add another 30 seconds to the clock. Once you have placed a bid, your username is listed as the bid leader. If someone bids after you, your username will be replaced with theirs. As long as no one bids after you, you win the item at an extraordinary low price.
One bid is deducted from your account every time you place a bid. You may place as many bids as you want. If you don’t win the item, you can apply the amount of money you spent bidding on the item as a discount toward Buy it Now feature. If you run out of bids, you can simply purchase another bid pack and keep playing. Please read the next FAQ to learn more about the Buy it Now feature.
How do I place bids?
Once you have found the item that you would like to win, simply click on the “Place Bid” green button to place a bid. If the countdown is under 30 seconds, it will add another 30 seconds to the clock. Once you have placed a bid, your username is listed as the bid leader. If someone bids after you, your username will be replaced with theirs. As long as no one bids after you, you win the item at an extraordinary low price.
Am I charged even when I don’t win an item?
While the money you have used to bid on an item is non-refundable, you can use every dollar you’ve spent bidding as a discount towards your Buy it Now price. Click here to learn more about Buy It Now.
Do you refund unused bids?
Yes, we refund bids that you purchased for. Free bids have no monetary value.
How much are bids?
The bigger the bid pack, the more extra bids and the more redeemable points you will get.
20 Bid Pack = $10 Free Bids = 0 Redeemable Points = 0
50 Bid Pack = $25 Free Bids = 2 Redeemable Points = 5
100 Bid Pack = $50 Free Bids = 6 Redeemable Points = 10
200 Bid Pack = $100 Free Bids = 14 Redeemable Points = 20
500 Bid Pack = $250 Free Bids = 28 Redeemable Points = 50
800 BId Pack = $400 Free Bids = 60 28 Redeemable Points = 80
Are the items brand new, and where are your items coming from?
All items on PennyAuction.ca are brand new, factory sealed and come with standard manufacturer’s warranties. Items are shipped from our warehouse or directly from suppliers.
Can I use PennyAuction.ca if I don’t live in Canada?
Yes, PennyAuction.ca currently welcomes users from both the US and Canada. Soon will be offering our site to other countries.
How can I make changes to my account?
Due to security reasons, certain changes to your account including your mailing address, email address and name can only be made by contacting us. You can make other changes yourself by clicking on My Account in the green navigation bar after you are logged in.
What if I forgot my username or password?
Simply click on “Forgot Username/Password” on the login page. Enter your email address, and we will send you an email with details concerning your account and how to reset your password.
Can I have more than one account or username?
For security reasons and in order to prevent abuse, there is a limit of one account per household.
Can you give me more details on shipping?
Once you have paid for your item, we process and ship it! We are able to ship to Canada and the United States. Shipping costs are fully explained in the details page of every auction. You can expect to receive your item within 14 days. We will not ship to P.O. Boxes. If you have questions about a specific item, please contact us.
What is your return policy?
Returns are accepted as long as items have not been opened or used. We will refund the final auction price as well as shipping costs, but we are not be able to refund bids. If you are considering returning an item please contact us as soon as possible so we can arrange for a return. Please do not attempt to return an item without first contacting us!
Can I exchange my won item?
Due to several factors including item type and supplier, some items can be exchanged and others cannot. Please see the item details page for specific information on whether or not an item can be exchanged. If you would like to exchange an item for bids or a gift card, please contact us. Depending on the item you have won we are sometimes able to accommodate this request.
Does PennyAuction.ca have a refund policy for when the site has technical difficulties?
In the even of technical difficulties such a server downtime or anything else that forces us to terminate an auction prematurely, we will refund all bids placed and void the auction. In special cases we may pause an auction instead of voiding it, refunding only bids placed in the last ten minutes before the problem arose and resuming the auction once the site is again working.
The auction timers on my screen stop constantly, and I have issues placing bids. What can I do about these problems?
Make sure you are not downloading any files and limit the number of other websites and programs you have open while you are using PennyAuction.ca. PennyAuction demands a lot more resources than a regular site. We use one of the most powerful servers available, but if you experience any lags, slow counters or skipping seconds, please contact us at your earliest convenience so we can rectify the situation.
Do I have to pay tax?
At the end of an auction you pay only the amount shown plus any applicable shipping charges. For specific information on shipping, please visit the details page of each item. Shipping rarely costs more than $5. You do not pay tax. For example, if the item ends at $1.23, you only need to pay $1.23 plus applicable shipping as indicated on the item’s details page.
I’ve won an item. What happens now?
Congratulations! Following the auction’s close, you immediately receive an email from us informing you that you’ve won and giving you further information. The next step is to click on the provided link in your email to accept or deny the item. Once you click the link, it takes you to the site to log in. Assuming you accept the item, you are taken to a payment page. Once the payment is processed, we will ship your item. You can expect to receive your item in 14 days or less. You can track your item from within your account page at pennyauction.ca. If you believe you won an auction but have not received an email within two hours of its close, please contact us so we can rectify the situation.
How many auctions can I win?
For non-premium item, we have limited the number of auctions that each user can win to 2 per day, 5 per week and 15 per month. We may change it in the future. For premium items such as laptops value equal or above $450, each user is limited to 1 wins per 30 days. Enforcing these limits allows as many people as possible to have the opportunity to take advantage of our extraordinary savings.
