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Several months ago we conducted an interview with penny auction BidonCash (see detailed directory listing). We’ve included the transcript of that interview below.
Do you BidonCash? If so, we’d love for you to share your experiences in the comments section below.
So without further adieu, here’s the interview:
Tell us about BidonCash.com.
The name is the best description. In our auctions you bid on cash. We take the penny auction model to a new level, by giving you the opportunity to win cash at a fraction of its actual value.
BidOnCash.com is operated by Soluan Investments Ltd, based in Cyprus. We are a young, innovative and entrepreneurial organization, managed by individuals with great experience from various online and entertainment businesses.
How many auctions do you run in a given day?
We currently run approximately 80 – 90 auctions a day.
How much do bids cost? Are you currently offering any promotions?
Bids cost approximately $1 US each. We offer 1 free bid for each registration and purchase bonuses for special events.
Some bidders are nervous about the idea of bidding on cash without any guarantee of winning. Are there any bidding strategies that you would recommend?
There is no surefire strategy for winning a penny auction, other than to keep bidding until you win, and that can get expensive if you do it at the wrong time.
As with many things, timing is everything. Your ability to win money from BidOnCash auctions improves through careful observation of the bidding action. Auctions with fewer bidders offer the best opportunities to win.
Tell us about your BidJames feature.
BidJames is an automatic bidder that you can set to bid for you. BidJames will automatically place your bids at various times during the final ten seconds. You simply click on the auction you are interested in, then locate and click on the BidJames box. You set the price range and the maximum number of bids that you are willing to make.
You can go to your account anytime to cancel or modify the bidding criteria. Any bids that BidJames doesn’t use are credited back to your account.
When a user wins an auction at BidonCash, how do they receive their money?
When a user wins a cash auction at BidOnCash.com, the money is instantly transferred to their BidOnCash account. The winnings can then be cashed out through bank wire, NETeller, or EcoCard.
- Bids cost $1
- Auctions are for cash
- Payouts can be received through bank wire, NETeller, or EcoCard. Paypal is not a payout option.
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