[Auction Owner]

Hello to all

I would like to introduce myself and my website called Just Lower Auctions

We are also pretty new within the australian market but we do allow world wide bidders to play.

We offer quite a large range of items at one time like houses, cars, boats, cash, entertainment systems and a whole heap of your normal smaller items. We are actually a company of different auction sites and and other websites not all to do with auctions.

We also don't have any limits as to how many bids you can place or how many items you can win.

We don't harge joining fees or weekly membershaip fees and everybidder that places a bid offer has a chance of having the lowest unique bid offer when the auction closes.

We also have a point of difference which is we are not a time based auction as our auctions close when we reach the full amount of Bids Remaining.

We aslo pay for many extras that come with allowing the winner to only paying the winning lowest unique bid offer that wins with an item. This means say you win a car, we include $1000.00 of fuel vouchers, 12 months rego, fly the winner to the car to pick it up and sign the paper work, and 12 months full insurance. If you win a house we pay for the full stamp duty fees, lawyer fees, all the registraion fees, fly the winner to the house to collect the keys from anywhere in the world, supply the lawyer if you don't have one to sign the contracts. With all the smaller items that can be posted we pay for all the postal costs to your door.

We have appeared on the top current affairs program here on TV and in newspapers in different areas.

Every item we sell comes with proper store warranties and are brand new most of which belong to real well known department stores or in the case of new cars come from real well known car yards and of cause houses belong to the sellers.

So what ever the items Lowest Unique bid winning offer is the sellers get an d not us on top of their value price of the item.

We wil also be posting sold items and the whole bidding process of the item for each and and every item sold.

We also don't have a secret winning price set as the Lowest Unique Offer can go up and down throughout the whole auction till it closes. So every offer made has a chace of winning except of cause of bids that are not Unique.

We have 3 levels of responses which tell you where you are the Lowest Unique bid Offer ( This maens you currently have the lowest Unique Bid, But it can change), Not the Lowest Unique Bid offer ( means your have duplicated someone elses offer) and the third is , You have a Unique Bid but it's not the Lowest unique Bid,( this means that your offer is a Unique offer and has the possibility of winning if it doesn't get duplicated by someone elses offer before the auction closes) both the two last options will email your of any change within that status.

The only thing we don't do is ship cars overseas so overseas bidders should be careful that they can actual receive that item somehow before placing any bids on it. they can always contact us as we have full contact details within the contacts us section of the website.

I hope you give us a look and tell your friends about us.

I am more than happy to answer any questions here and we also have our own forum in which you can use to ask questions and even advetise your own websites on. We also allow Banner adds on our website for a monthly or yearly fee. We have FAQ and help pages and also a video page which has both media video clips that we have attracted plus how to videos for our website and more will be added as time goes on.

thanks for taking the time to read this and hope to se you and that you will add us to your collection of pennysaversauctions favourites list.

[Ryan]

I would not put $10 on a website that needed 750,000 more visitors to start. This is as close to stealing as it gets unless you can unregister. So far you have 31 registrations, so $310 has been received. If you get 31 registered every day, you'd get $310 a day (or over $113,000 a year) for over 66 consecutive years before the auction even started.

What's up with that? You know damn well you aren't going to get 750,000 bids on this item, let alone the many other items you have that won't start until 500,000 bids have been received.

[Ryan]

This is the sickest scam I've ever seen on PennyAuctionWatch. Surely you can't be naive enough to think this could ever work as it claims to?

Quotes from the forum there "By my calculations you should have the required 60,000 bids by 2093." At least I even gave you the benefit of the doubt and gave you all your current bids in a single day, and it still took 66 years. This guy is giving you 84 years to get 60,000 bids. At that rate, the 750,000 auction won't start until year 3059!

FUN FACT: $10 invested today with 3% growth (yes, the risk-free rate) will be worth over $30 trillion in 3059. That's $30,136,023,123,462.16 to be exact.

Did you even run a sensibility analysis before you started this? And no, the odds on this are not better than the lottery. Each Wednesday and Saturday they run a draw and someone has a chance to be a winner. This is just absurd.

[Auction Owner]

Hello

Originally Posted by Ryan

I would not put $10 on a website that needed 750,000 more visitors to start. This is as close to stealing as it gets unless you can unregister.

This house has only been listed for a week now.
You are talking about 750,000 bids need on a 5 million dollar item at $10.00au a bid. The bids or ADMIN FEE in this case is what pays for the item to the seller/owner of the house worth 5 million dollars.
For the winner we also include some $200,000.00 worth of stamp duty fee which has to be paid to buy this house.
We also include the thousands of dollars in lawyer fee that you would be required to pay when you buy this house.
We also pay for the other few thousand dollars in registration costs that you would have to pay if you won this house.
We also pay for the plane ticket from anywhere in the world that the winner comes from to sign the paper work and clooect the keys to their new asset that you would normally have to pay if you won this house.
Yes it seems like a lot of bids when you look at the number 750,000 but it would be much higher if the Admin Fee where to be lower. Like all these auctions the money you pay to place a bid is what pays for the item.
So really $10.00au for a potential gain of half a million dollars is not excessive at all.
You are always wecome to go your your bank a ask them to loan you half a million dollars plus to buy this house and have save up a few hundred thousand dollars as a deposit before you do so.
We have created a means for all those that have problems saving up to own a house or have problems getting a bank loan and/or have to bad a credit rating to even be looked at by loans agentcies to buy a house.
so for $10.00au you could be that winner.

So far you have 31 registrations, so $310 has been received. If you get 31 registered every day, you'd get $310 a day (or over $113,000 a year) for over 66 consecutive years before the auction even started.

We started 2 and a half months ago and now have some 3000 members. and get around 10 to 20 new members each day but like all the other auctions which are time based we do not run on any timers and as such the auction only closes when the full amount of 750,000 bids (Bids Remaining) is met so waiting for it to get close to the end is really a pointless task because unlike some other types of pennyauctions every bid placed on our items whether first or last counts towards having a chance at being the Lowest Unique Bid offer. So really all you are doing by placing a bid offer is having a guess at what you think will be the Lowest Unique Bid Offer when this item reaches it's 750,000 bids.
What we are teaching the public is that this is no differt to you going to play lotto and picking your 6 numbers and paying for each square and waiting for the draw to see if you won in a game that offers a 20 million to 1 chance of winning for around the same price as our Admin Fee.
Being a new business and the fact that this is also a new concept yes I agree it seems like it will be a very slow process before it reaches the end. This is why we are paying for professional Marketing and media publishes to advertise what we do.This cost thousands of dollars to do in it's self.

What's up with that? You know damn well you aren't going to get 750,000 bids on this item, let alone the many other items you have that won't start until 500,000 bids have been received.

I think you are just not understanding what we have here to well. Your comment above doesn't make sense as each item is a individual item and closes when it reaches it's Bids Required amount. So where you get this phrase from

let alone the many other items you have that won't start until 500,000 bids have been received

I have no idea. I think the problem here is that you are so used to time based pennyauctions that you do not understand ours and the way it works.
As for the first part of that comment like I mentioned further up we are new and this new but we are working on teaching everybody this new concept.

I appreciate your thoughts and hope that you will take a little more time to understand how our system works and at least give us some time before extecting 750,000 to be comepleted over night.

cheers and good luck

[Auction Owner]

Originally Posted by Ryan

This is the sickest scam I've ever seen on PennyAuctionWatch. Surely you can't be naive enough to think this could ever work as it claims to?

Please explain where and what the scam is in doing what we are doing. this type of comment can only come from other pennyauction owners as we offer everybody an equal and fair chance at becoming a fully paid home owner without the need of any financial institution just like playing lotto everybody has a fair and equal chance at this oportunity. No scam here at all.

[quotes]Quotes from the forum there "By my calculations you should have the required 60,000 bids by 2093." At least I even gave you the benefit of the doubt and gave you all your current bids in a single day, and it still took 66 years. This guy is giving you 84 years to get 60,000 bids. At that rate, the 750,000 auction won't start until year 3059! [/quote]
This is a very nieve way of looking at things as every new venture takes time to kick off and all these home owners are very well aware that this will take time and may even not sell.

Like every new idea it takes time to teach people how it works at what is required. This is why it costs us thousands of dollars each week to teach the public about how we work.

That's Ok we where and are prepared to deal with all this type of critisium as t gives us the chance to reply to all those that have douts and given time we will see people understanding what we are about and playing our game the way we are asking them to play it which I will explian to you at the end of this post.

FUN FACT: $10 invested today with 3% growth (yes, the risk-free rate) will be worth over $30 trillion in 3059. That's $30,136,023,123,462.16 to be exact.

All our bidders money is kepted in a trust fund which doesn't earn interest so again you presume and attack without even thinking of what you are saying.

Did you even run a sensibility analysis before you started this? And no,

Actually yes we did within Australia and you have to be the only person to judge people so harshly without asking questions first. i can only see you as a pennyauction site owner that thinks or feels that degrading others will help website. The truth of the matter is since we offer so much more than most and run on a totally different system than other pennyauctions and what we offer sounds so too good to be true that it scares people and this thought will carm down and start easing as we get winners and they are advertised on TV everywhere. So again this only boils down to time.

the odds on this are not better than the lottery. Each Wednesday and Saturday they run a draw and someone has a chance to be a winner. This is just absurd.

Well it depaends on how you look at it. firstly let me say and I'm not sure where you are from but here in Australia we have a few different Lotto type games that are drawn each week and it cost the average player 20 to 50 dollars each week and some times more depending on the 1 prize amount. Each one of these games has a minimum win chance of between 10 and 75 million to 1 chance of you ever winning. How many times have you won lottery type games?

We are teaching people to include us in their every week playing of these games and as such only need to attract half a percent of the lotto worlds market at 10 million players each week in Australia alone that is all we need.

Yes we are aiming high and we do know what we are doing.

As this not being better chances than Lottery games. Please let me explain something as each and every one of these lottery games that now make billions each week either went broke or where about to go bankrupt within the first 18 months that they started before they found a footing and had it not been for their finacanial capabilities of being able to cope those that didn't have that deep pocket didn't last. we will last and will get there.

The Chance factor
Taking away the weekly factor at this point because we are only new. If you where to win a half a million dollars in cash from a lottery game like most you would be broke within the first 12 months and even though they tell you that what you win is tax free, as soon as you touch 1 cents of that money you owe the government 48% in tax and this is where a lot of winners get court every time. then with each draw you are hoping that will have the winning numbers over a minimum of 10 million players with which gives you odds of around 20 million to 1 with each and every single draw ( again how many times have you won in the Lotteries ).

So working on the same half million dollar factor for now. Playing with us give you the odds of only 750,000 to 1 chance of finding/guessing what you think will be the Lowest Unique Bid Offer that wins the item for the same price as it cost you to play those Lottery type games.

Plus the winner gets an instant fully paid asset of half a million dollars which is completely theirs and you will not pay tax on it unless you sell it. which means that you could borrow on it more than you would have left after you spent 1 sent of your lotteries winnings after you pay your taxes.
then of cause you could always use it as in investment property and earn a rental income from it.

So for these factors yes we are by far working with better odds than any lottery game around and when we get to our goal of members playing on a weekly bases we will then become the best odds within this type of market.

Again thank you for your thoughts.

Cheers

[Auction Owner]

We are in no way a scam but and oportunity for winners to gain a life changing experance as well as the fun factor of playing the game.

All these pennyauction games are just that a chance and an other means of owning something at a much cheaper rate than you could buy it for.

We have just taken it to the next level and made it (turned it) into exactly what it really is a game and brought inbetween the Lottery type games and an auction.

Yes this is also a new concept and different way that these pennyauctions can run.

So to call it a scam is quite a nieve way of looking at something you don't understand. We run a very strict item policy and up to 50% of what we make in profits will be going to organizations like charities, the Rural fire services that risk their lives every year to save peoples homes because of some careless fools that play with fire, kids sporting clubs to help them better acheive their goals and have nothing but the best to paly with, kids hospitals that need all the help they can get to save our youla kids that are presious to all us parents.

We are nohere to gain big bucks for ourselves as we developed this system with the goal to making this a means of helping more than just the winners in many ways. As we get more popular and reach our goals we want to get to a point where we are giving 80% of our profits to these organisations and back into the community.

Like every new business something has to sell to see if what we say is true and only by selling something will all this happen.

So by playing with us you are not only giving yourself of owning a bargain but helping many others in the process.

Cheers

[Ryan]

Everything I said still stands, it makes no sense to claim I am just another penny auction owner slamming you because I laid out facts that show purchasing a ticket here is like burning money because these auctions will not reach an end in a reasonable time.

I don't believe scamming is your intention, but if someone has to pay for something and nothing is going to be delivered than it is a scam whether you came to do that or not.

For a project of this size, you should have had hundreds of thousands of dollars for marketing in the areas which this is legal, because if you are just getting consumers through twitter and facebook you will never get 750,000 bids. And that's why it appears wrong to me. There does not seem to be a solid plan on how to get more traffic. Keep in mind 3000 registrations does not mean 3000 bidders, as you can see already your 3000 registrations translated to about 30 bids so that is a 1% conversion rate after two months. You are going to need 75 million registrations for these auctions to start and end in a reasonable fashion.

I have a feeling you can't show me true market research that shows that what I said isn't accurate, and that's the real problem here.

[Auction Owner]

Originally Posted by Ryan

Everything I said still stands, it makes no sense to claim I am just another penny auction owner slamming you because I laid out facts that show purchasing a ticket here is like burning money because these auctions will not reach an end in a reasonable time.

How can you say that when what we do doesn't exist in the way we do it. You are prejudging something you know nothing about.

I don't believe scamming is your intention, but if someone has to pay for something and nothing is going to be delivered than it is a scam whether you came to do that or not.

where is the scam in what we do. Is it because we are use a pennyauction on a much bigger scale than yourself and offer so much more than you can or is it because you just don't understand how it works. The bottom line is if we are a scam than that puts you and others in the same boat as all you are looking and placing all these comments are on the larger items but I see no mention about all the smaller items that actually of better value and odds than most other pennyauctions around.

For a project of this size, you should have had hundreds of thousands of dollars for marketing in the areas which this is legal, because if you are just getting consumers through twitter and facebook you will never get 750,000 bids. And that's why it appears wrong to me.

Read further down for more about this comment please.

There does not seem to be a solid plan on how to get more traffic. Keep in mind 3000 registrations does not mean 3000 bidders, as you can see already your 3000 registrations translated to about 30 bids so that is a 1% conversion rate after two months. You are going to need 75 million registrations for these auctions to start and end in a reasonable fashion.

If all you count is 30 bids then you really need to get your calculator out. Not much more to say about this comment really.

I have a feeling you can't show me true market research that shows that what I said isn't accurate, and that's the real problem here.

I/we have nothing to have to prove to you as it's all on our website. maybe instead of critising what you don't know you should try reading a bit more about how it works as it clearly shows that you are basing all your ideas on pennyauctions that are time based and know nothing about the way we opertate our business.

You have got to be the most degrading person on this forum. You can slam all you want and since I know you have no idea on what you are saying and that you are just pulling figures out of nowhere to make yourself look and sound like you now what you are talking about i really have nothing to prove to you as all that I have stated is true and honest.

I have read your post on others and all you do is slander others and try to make out you know all when in actual fact you know nothing of what you are talking about and this is proven by all these rediculous figures you are coming up with.

What you do is not comstrutive critisum but out right degrading others to make yourself sound good and important. I have seen your site also and well because I'm not like you that's all I will say on the matter.

I/we have things happening at the moment in the background that someone like yourself wouldn't even comprehend as for marketing we have spent more on marketing than you would make in a year so please have a little bit of decent curtesy for what you know nothing about.

As I have responed to all your comments you can only degrade as a whole what you don't understand which make me see you as a deperate person trying to gain acceptence.

Sorry but that's how you come across as we professionals and know what we are doing and what it takes to get there and degrading others is not the way to do it.

Cheers

[Ryan]

Please don't tell me I don't know what I'm talking about. As for slamming people, I have always been a completely fair reviewer on this site. You obviously didn't look at my history. I "slander" businesses to protect innocent people from spending $10 on something they believe to be fair but is currently showing all signs of being the equivalent to burning money.

But again, you failed to show any statistics on how you intend to get 75 million registered users. It really is your duty as the auction site owner to prove to the community that you will fulfill your end of the bargain by getting these auctions started in a reasonable time frame. I understand you are new, and therefore it would be ridiculous to assume you could start these auctions instantly, but there should be a timeline to show your progress and efforts to get more activity. The fact that you seem unwilling to even throw the most simple numbers out for us leaves me a feeling that you don't have a true intention of fulfilling your duties.

What site of mine was it that you've seen? I'm quite sure you are further damaging your credibility by claiming you've seen a site that doesn't exist.

[lunasol]

AuctionOwner: You need 749,969 more users to purchase bids at $10 each to be eligible to have the lowest unique bid for that mansion valued at 4 million? Your wish to make a profit of 2,919,690 seems like a pipe dream.

Ryan only stated the obvious facts, yet you go ahead and attack him as a person and assume he owns an auction site. Can I ask you for what reason you're verbally attacking others when your site and business plan is called to question?

I wonder what the tax & market value really is and if this mansion even exists. Can your server on your free website even handle that much traffic?

You have funds for marketing yet your own website looks like a billboard/ad directory.

According to Alexa you have 0 sites linking in and a traffic ranking of 11 MILLION. Looks like you have some work to do.

[Ryan]

And do you realize that in needing 750,000 bids you can't even target United States customers?

[Auction Owner]

Originally Posted by Ryan

Please don't tell me I don't know what I'm talking about. As for slamming people, I have always been a completely fair reviewer on this site. You obviously didn't look at my history. I "slander" businesses to protect innocent people from spending $10 on something they believe to be fair but is currently showing all signs of being the equivalent to burning money.[/qoute]

There are better and more pleasent was of getting your point across than attacting people about something you know nothing about.

Where you get that I need 75 million members is beyond anybodies thoughts and like any new business this amount of members needed will take some time and again you are only basing all your comments on the most expensive item on our website yet nothing is said on the smaller items with much less bids required.

Yes we are attemping something new within the Australian market and this will take some time and this is explained on our website. Everybody that uses our website see us as trying something that is really a great idea and support what we are doing. Both our sellers and bidders understand that this is a new idea and those that have started bidding support what our goals are 100%. Yes it will take some time at first but the big picture here is futher down the track when we do become a success. What you don't realise and every member nows this as it is well mentioned all over the website is that if an item doesn't sell each and every member gets thier Admin fee back. this is the reason all the bidders money is kept in a trust account till an item sells and this includes all the smaller items as well.

[qoute]What site of mine was it that you've seen? I'm quite sure you are further damaging your credibility by claiming you've seen a site that doesn't exist.

I may have mistook one of the other pennyauction sites as yours and for that I apoligise if that is not the case.

Cheers

[Auction Owner]

Originally Posted by Ryan

And do you realize that in needing 750,000 bids you can't even target United States customers?

hi there

Our website is world wide based as well sell more than just the house that requires 750,000 bids.

It's up to the bidders to know what they can bid on or not as stated on our websites T & Cs

cheers

[Auction Owner]

Originally Posted by lunasol

AuctionOwner: You need 749,969 more users to purchase bids at $10 each to be eligible to have the lowest unique bid for that mansion valued at 4 million? Your wish to make a profit of 2,919,690 seems like a pipe dream.

Actually that is incorrect as most bidders would place more than 1 bid as those that use all the other pennyauction websites so this type of comment is really not correct.

As for the $10.00,, do you really think that spending $10.00 for a potential gain of a $4.5 million dollar house is excessive. The websites in the UK that do what I do charge a minimum of $120.00 per ADMIN FEE and make a 3 million dollar profit on a 1 million dollar house. Compared to them I am way below that.

Your other comment about our profit margin is also totally incorrect.
All the stamp duty fees and lawyer fees plus plane fair from anywhare in the world comes from the money whcih comes to about $250,000.00

Then there are our lawyers costs and advetising fees plus staff wages that come out of this also.

Then there is the extra free bounus we give with eact amount credited to the account which adds up to just under 1 million dollars.

Then there is the free credits we give to charities which come to around 100,000.00

Then after that and once all these are paid for what is left we take and in this case will be 50% and give it to charites and other organizations.

At the end of the day our actual profit will only be 10% of the 4.5 million dollar price and that's considing we sell it in the toime frame we have targeted being a new venture, if it takes longer then our profit goes down.

Ryan only stated the obvious facts, yet you go ahead and attack him as a person and assume he owns an auction site. Can I ask you for what reason you're verbally attacking others when your site and business plan is called to question?

I didn't attact as you say him in person but based what I said on his comments and the way he goes around slanndering everybody. If he takes it that way then I am soory but if your going to attact others then expect to be attacted back otherwise don't make those degrading comments.

Plus all the figures he comes up with are just that and are where made without asking or trying to find out anything before using totally false figures. the least he could have done before coming out and attacting something he doesn't understand is to ask questions first instead of just attacting from the word go.

I wonder what the tax & market value really is and if this mansion even exists.

This question was answered above. If you really want to know if it exsits then just google the address and have a look as it is real. Really was that truely a question that needed asking.

Can your server on your free website even handle that much traffic?

Again unfounded accusations as this is not a free website and was built from scratch. Where you see that this is a bought website is beyound our imagination. As for our server yes it can handle the traffic and as you would now these things are not hard to expand if need be.

You have funds for marketing yet your own website looks like a billboard/ad directory.

This is only your opinon as we designed our website like this for a reason whaich may not be apperent as yet bue to being new but slowly happening.

According to Alexa you have 0 sites linking in and a traffic ranking of 11 MILLION. Looks like you have some work to do.

I don't know what alexa.com you are look at but that is certianly not the case and you are now just trying to ( I'll leave that up to you). Please read below.

Alexa.com

Traffic rank is 443.906

now since we don't use alexa within our SEO work than they would be able to read to much.

Websiteoutlook.com

traffic rank is 460660
traffic rank per day is 179807
page views rank per day is 320182


So I don't know where you get your 11 millionth from.

We are also just statring to hit the first pages of google, Yahoo and ninemsn. that something that a lot of websites don't acheive for years and we haven't been live quite 3 months yet.

As for links to our website Google Analistic states we have 344 links to our website plus we have around 400 other website links on our website.

The fact that it takes these search engines quite a few months to list the real stats of a website as you would maybe know all these things are not always visable at first and thats time which is out of our control.

On top of this we spend around $2000.00 a week on adwords with google and average between 800,000 and 1.5 million impression as day and have get around 2000 visitors a day to our website just on through adwords.

See our problem is not getting the traffic as we have that down pacted for a webite that has been only online for 3 months. Our biggest task is teaching people what we are about and what our intensions are and as thus why we are currently spending well over $200,000.00 on marketing experts which will involve TV ads, and media coverage amonug many other things.

like I stated before we do know what we are up against and doing.

cheers

[lunasol]

What real estate brokerage is handling this property? I'd like more information.

[Auction Owner]

Originally Posted by lunasol

What real estate brokerage is handling this property? I'd like more information.

The owner is a real estate agent and you can contact them through the website within here details. I just noticed that the seller does not have contact details there and will get in touch with them to have it added within the next 24 hours.

The other thing is here in Australia home owners can sell their house how ever they choose so no real estate agent is needed.

The important this is that the final sale at the end is contucted between the lawyers and all money goes to those lawyers which is the way things are done through us.

We have one of the best lawyers in Australia working for us and nothing is done without going through them first.

Cheers

[Ryan]

I'll admit your traffic rankings for the au site are a lot more promising than the .com.

But I see an auction that needs 59,000 more bids (has received 1000) for an apartment which lease is ending on June 30, 2010. I don't know how you will get 59,000 bids in 9 months and what will happen to the apartment and bids placed if June 30th comes with not enough money?

[lunasol]

Originally Posted by Auction Owner

The owner is a real estate agent and you can contact them through the website within here details. I just noticed that the seller does not have contact details there and will get in touch with them to have it added within the next 24 hours.

The other thing is here in Australia home owners can sell their house how ever they choose so no real estate agent is needed.

The important this is that the final sale at the end is contucted between the lawyers and all money goes to those lawyers which is the way things are done through us.

We have one of the best lawyers in Australia working for us and nothing is done without going through them first.

Cheers

I'd like to get in touch with your lawyer, let me know their contact info as well.

[Auction Owner]

Originally Posted by lunasol

I'd like to get in touch with your lawyer, let me know their contact info as well.

I am affraid that your intests is more to do with finding out the ins and outs to see what is involved with what we do and as such copy what we are doing.

I will let you do your own homework if you want to do the same.

I also see that your contact details don't show very much compared to ours. Makes me wonder who has something to hide here. I make it a rule never to deal with websites of any kind that can't supply real live contact information on their website. Just a policy of mine. You understand it's the internet and there are a lot of scammers around.


Cheers

[lunasol]

No I simply want more information about this property auction, I'd love to own a $4mln property in sunny Australia.

I don't own a penny auction site, this forum is for penny auction bidders for the most part. I have my own successful business I have no use to start a bid fee auction.

[Auction Owner]

Originally Posted by lunasol

No I simply want more information about this property auction, I'd love to own a $4mln property in sunny Australia.

I don't own a penny auction site, this forum is for penny auction bidders for the most part. I have my own successful business I have no use to start a bid fee auction.

What is your business name and website address please.

Also all the house details needed are through the seller and not us. I do know their is more information to be put towards their details as the furniture along is a major asset at 190,000.00 dollars worth of top quality barnd name makers. I think the dinning table alone is worth 30,000.00 dollars.

I will get the seller to place their contact details on there like I said as we have no control over what the sellers say. The important thing is that we have all the required paper work and proofs in place along with proper signed documents that state it is all real and owned by them.

Only once we have made our checks and that everything is correct that an item is allowed on our website.

We hold an extremely srtict critirea when it comes to what we sell and not just anybody can sell what they want. We have other auction sites for those people.

[Barbarian]

In one of your earlier posts, you said that "We started 2 and a half months ago and now have some 3000 members. and get around 10 to 20 new members each day" If my arithmetic is correct, then based upon your highest number of 20 new members, you should only have 1,500 members in that time period, NOT the 3,000 you say you have. 2-1/2 months =75 Days X's 20 new members per day = 1,500 members. Where did I go wrong? :-)

Also, any seller who is listing a multimillion dollar home for sale, who doesn't give out his contact information to potential buyers is an idiot of the first order. Sorry to say, but your lengthy explanation of this whole concept is highly suspect, it is riddled with inconsistencies, surely you can see this.

The numbers and time frames involved are HORRENDOUS and totally unrealistic in terms of ever achieving such lofty goals. As a business owner who is supposedly astute in their business dealings, you certainly leave no doubt in ones mind that you have no hesitation for going after pie in the sky deals which include involving other unsuspecting people.

After all of your lengthy explanations about how legitimate your house deal is, as well as saying that you have one of the best law firms in Australia representing you and the property owner, then you SHOULD HAVE NO PROBLEM PROVIDING WRITTEN PROTECTION FOR THE INVESTORS IN THIS SCHEME, oops sorry, I meant program, if it doesn't ever come to fruition, AT LEAST IN OUR LIFETIME.

I ask you a point blank question, WILL THE PEOPLE WHO INJECT MONEY, GET THEIR MONEY BACK IF THE PLAN YOU HAVE PUT INTO PLAY DOESN'T WORK?

Protect what credibility you would have us believe you have, Don't just tell us they are protected, SHOW US. Furthermore, I seriously doubt any self respecting lawyer or law firm would allow themselves to get involved in something like this for fear of being disbarred or worse still, being thrown in the slammer.

[Auction Owner]

Originally Posted by Ryan

I'll admit your traffic rankings for the au site are a lot more promising than the .com.

But I see an auction that needs 59,000 more bids (has received 1000) for an apartment which lease is ending on June 30, 2010. I don't know how you will get 59,000 bids in 9 months and what will happen to the apartment and bids placed if June 30th comes with not enough money?

Hi

The .com is only a redirected domain name to .com.au

This Apartment is in one of the most visited places in Australia and is in a Resort. The lease is set every year beacues the owner has a choice of when they want it to be free for them each year. The owner can choose to live in it if they choose or rent it out during the periods they don't use it. That is organized by the resort for you so you never have any rental hassles. so how ever wins this will receive the rental income for the rest of that year the the lease is going. then it will be up to them to set a new lease for the periods the winner doesn't want to use it.

If you ask me in a place like where this unit is,, It's quite a great deal.

Cheers

[Auction Owner]

Originally Posted by Barbarian

In one of your earlier posts, you said that "We started 2 and a half months ago and now have some 3000 members. and get around 10 to 20 new members each day" If my arithmetic is correct, then based upon your highest number of 20 new members, you should only have 1,500 members in that time period, NOT the 3,000 you say you have. 2-1/2 months =75 Days X's 20 new members per day = 1,500 members. Where did I go wrong? :-)

you didn't account for the one day when we got aroung 1000 new members after appearing on the news here.lol

Also, any seller who is listing a multimillion dollar home for sale, who doesn't give out his contact information to potential buyers is an idiot of the first order. Sorry to say, but your lengthy explanation of this whole concept is highly suspect, it is riddled with inconsistencies, surely you can see this.

Firstly we have our full contact details listed on the website.
Next the seller that owns the mansion will have thier contact details and just forgot to put them on there as they have a whole lot more details to add to the mansion. Nothing suspect just a slight error on the sellers part. There are no inconsistencies just people jumping the gun before reading all the details.

The numbers and time frames involved are HORRENDOUS and totally unrealistic in terms of ever achieving such lofty goals. As a business owner who is supposedly astute in their business dealings, you certainly leave no doubt in ones mind that you have no hesitation for going after pie in the sky deals which include involving other unsuspecting people.

If you where a member and if read all the T & C of the website which there are quite a few of you would not be a unsuspecting person. Like I keep saying this is a completely new concept in Australia for selling houses and of cause to keep the price down it will boost the amount of bids required. You can't teach a whole country over night something that they have never heard of. Both our sellers/owners of the items and our members know this.

After all of your lengthy explanations about how legitimate your house deal is, as well as saying that you have one of the best law firms in Australia representing you and the property owner, then you SHOULD HAVE NO PROBLEM PROVIDING WRITTEN PROTECTION FOR THE INVESTORS IN THIS SCHEME, oops sorry, I meant program, if it doesn't ever come to fruition, AT LEAST IN OUR LIFETIME.

I presume by investors you mean members?

You know every member is protected with the garantee that each will get a refund of Admin fees if items are taken off the auction or cancelled. this goes for every item on our website.

We are no different to an other pennyauction website except we don't have ours time based. So if you see us as being a scheme then you are only putting every other pennyauction in the same category.

Plus our profit margin on all the smaller items which is no different to those found on other pennyauction websites is far less than most others which makes ours better odds.

So if for those that are pennyauction addicts they can all get in there and place as many bids as they like without the hassle of trying to beat others within the last few seconds. Also unlike many pennyauctions wher bids that don't find a Lowest Unique Bid offer get discarded ours every bid offer counts which means even if you don't get the Lowest Unique Bid Offer at the time you place your bid,, It still has a chance of becoming the Lowest Unique Bid Offer by the time the auction closes when it reaches the full amount of required bids.

By doing this we give time to bidders to think about what they are doing and how many bids they want to place for this chance of guessing what the Lowest Unique bid will be.

See you can not compared us to the pennyauctions that are time based becuse we are fairer in the way the Lowest Unique bid if found compared to a lot of others.

So in reality who is really trying to scam who here. Yes we deal in bigger and more expensive items and have a lot to offer in the way of all the rxtras that we add towards items so the winners only have to pay what ever the Lowest Unique Bid Offer is that wins.

That's our priverlage to be allowed to do that and I am quite sure that when items start to sell/close and you how fast and good quality brand names products that others are getting poeple will learn fast and items will close quicker.

I ask you a point blank question, WILL THE PEOPLE WHO INJECT MONEY, GET THEIR MONEY BACK IF THE PLAN YOU HAVE PUT INTO PLAY DOESN'T WORK?

EVERY SINGLE CENT AS THIS IS WELL STATED IN OUR T&C AMOUNG OTHER PLACES AS WELL.

THE ONLY PEOPLE THAT LOSE OUT ARE THOSE THAT DON'T WIN WHEN AN ITEM CLOSES, which is no different to all the other pennyauctions. But untill an auction close their is always a chance that you will get a refund if that item is cancelled by the seller before it closes.

This is why our main goal is to teach everybody to place thier bid in quickly as all you are really doing is taking a guessing at what you think will be the lowest unique bid offered when the auction closes and whether your the first or the last you have a chance of winning. Also the reason we have opened up the maximum bid allowed price to the Value Price of the item giving more bidders and even and equal chance at finding a UNIQUE Offer and thus opening the chances of winning up wide.

Protect what credibility you would have us believe you have, Don't just tell us they are protected, SHOW US. Furthermore, I seriously doubt any self respecting lawyer or law firm would allow themselves to get involved in something like this for fear of being disbarred or worse still, being thrown in the slammer.

If this is the case then the same applies to all pennyauction website don't you think as we are no different to them and yet offer a whole heap more.

Maybe it's the fact that we offer so much and run a clean auction without trying to force people of mislead people in the way the auction really works as we have it all spelt out in black and white on the website including all our contact details.

So if you think that you are so clever in coming up with a comment like this above them you really have a lot to learn about businesses as that type of comment is totally uncalled for considering it's only made to degrade us and an attempt at trying to incourage others not to use our website when in fact it is probably more safe and trustworthy than many other pennyauction websites around that don't deliver items or scam on timers, or make you pay for postage or don't show all their contact deatils and can't be reached or don't show that amont of bids that remain before the auction closes just to name a few of the many problems that exist with other pennyauction website around.

We on the other hand haven't had the opportuniyt to show that we are a great and outstanding service because we have sold anything as yet.

But beleave me when we do eveyone will now about it because we have that much attention from media just waiting for this to happen that when we do sell some it will be publizied by that waitin medea.

Do you have any idea why they are wiating? this is because even they see that we are going to be the best and biggest pennyauction website in Australia because of the way we operate. but like evry new thing it takes time. If we wanted to we counld even fake an auction or use fake bidders to end an auction but we are not like that and don't do this type of thing so it only relies on the members and memebers alone as to how long it takes for an auction to close on our website.

Your proof will be there when items start closing and then you will appoligise in public the same way all you that attact something you don't know anything about but are very quick to degrade and attack before you see any results and making sure everybody thinks we are a scam. Will all you be decent enough as the decent persons you are trying to make others beleave you are to appoligise for all your unfounded and uncalled for judgements in this forum.? When not if but when this day comes we will see who is the most decent ones of us.

Cheers

cheers

[Barbarian]

Re: The addititional 1,000 Members, even with that, your arithmatic is still off by 500, but lets not get bogged down in semantics. Your response tells me that you have totally missed the words in the TITLE, "Multi Million Dollar Home Sale". My comments were about the house, NOT ON HOW YOU RUN A PENNY AUCTION.

I was questioning your multi million dollar house offering/sale/listing, call it what you will. Like others who have commented, neither they or I, are attacking your integrity, what we are saying in effect is, your house deal, which you have talked about at great length, will take forever and a day to come to fruition. Surely you see this to be the case. If you do, then don't be surprised or offended if what you say raises some eyebrows.

If memory serves me correctly, Ryan of this forum, in one of his previous posts, ran some numbers by you which in my humble opinion should have given you food for thought. Instead, you took what he said and what I said as an attack on your credibility.

Instead of being so sensitive, try to look at what is being said to you, as both constructive criticism as well as incredulity at the way your house deal is being structured. WHO KNOWS!!! maybe someone from this side of the Pond can give you some ideas, I for one am very open to new ideas and suggestions.

I think you must admit, that the responses you have received thus far, are a direct result of the way you presented your house scenario. REMEMBER, I am only referring to the house sale, NOT about Penny Auctions in general, so lets stay focused shall we? Also remember, we are not mind readers, we can only go by the way you presented yourself when describing your house deal, I must say, and this is not meant to be confrontational, the way you articulate yourself needs some fine tuning.

Insofar as your comments about some Penny auctions being less than ethical, you are absolutely correct on that point, but that holds true of any type of business. The ones who are dishonest will be weeded out in due course. There are also some very honest ones around, with these in particular, if and when they make mistakes, they are not afraid to admit it and immediately take the necessary steps to correct it.

There are many variations of the Penny Auction concept surfacing all the time, yours being just one of them. As a suggestion if I may, I would re-visit the SHORT TERM EFFECT of your house situation by asking yourself these questions...

1. Will I make any money on the short term or the long term? 2. If it is on the long term, can I afford to wait for my money on this deal? 3. Does this particular facet of my penny auction business detract from other, more beneficial aspects of my business which provide me with more SHORT TERM money? Special emphasis on the short term.

That's all from yours truly for now, so be nice, we are not out to get ya. Whenever someone wants to argue with you, just say... ALL THE LITTLE BIRDIES IN THE NEST AGREE, WHY CAN'T YOU AND ME? LOL.

GOOD ON YA MATE.

[Auction Owner]

Originally Posted by Barbarian

Re: The addititional 1,000 Members, even with that, your arithmatic is still off by 500, but lets not get bogged down in semantics. Your response tells me that you have totally missed the words in the TITLE, "Multi Million Dollar Home Sale". My comments were about the house, NOT ON HOW YOU RUN A PENNY AUCTION.

Your comments where about the amount of members and the house plus that what we doing was far fetched. About the amoun of members I gave only a round fiure of the amount of members that we got from media attention as I didn't realise that being that specific was that important to you.

I was questioning your multi million dollar house offering/sale/listing, call it what you will. Like others who have commented, neither they or I, are attacking your integrity, what we are saying in effect is, your house deal, which you have talked about at great length, will take forever and a day to come to fruition. Surely you see this to be the case. If you do, then don't be surprised or offended if what you say raises some eyebrows.

If you please read back my orignal post never mentions the million dollar house and it was started by Ryan and his far fetched and totally false figures as if you also read back you will notice that I have tried to mention the fact that there was also smaller items on our website but all focus was only brought towards the 750,000 bids which is what is needed for the million dollar house. I didn't once start any conversation on the house other than answer questions.

As for the amount of time this will take is anybodies guess as this has never been done in Australia before on such a big scale, in fact if you go to our website and look at the video of our nation wide media coverage you will see that only 1 house was sold like this 2 years ago and it took 8 months to complete and that was only a $350,000.00 house.

We know and understand what we are un against and so does the seller/owner of the mansion. Plus every member knows that if it doesn't go off that they will get thier Admin Fee back in full and we bare the losses of all the advertisemnet we have done on this. We are prepared and can both accept and afford that.

If memory serves me correctly, Ryan of this forum, in one of his previous posts, ran some numbers by you which in my humble opinion should have given you food for thought. Instead, you took what he said and what I said as an attack on your credibility.

The only food for thought it gave me was that it show how people can make rediculous presumptions about others before asking any questions or trying to find out any details.

Instead of being so sensitive, try to look at what is being said to you, as both constructive criticism as well as incredulity at the way your house deal is being structured. WHO KNOWS!!! maybe someone from this side of the Pond can give you some ideas, I for one am very open to new ideas and suggestions.

I was never sensitive and can accept constructive criticism and we welcome it, but what was said wasn't constuctive criticism at all but rather totally uncalled for misleading false preumptions about things they knew nothing about. like I keep saying there is a wrong way and a right way of asking questions about something you don't understand and there was quite clearly nothing right about the way some of these accusations where made public. Don't forget that this is a public forum and when someone ( and I am quite sure yoiu would do the same) falsely acuses or keeps going on with false information for everyone esle to read that you would defend yourself the same way as those question where answered and still it was carried on and not only on here but after been told he was wrong he then went on to another site and made the same false and totally uncalled for accusations.

If that was to designed to affend us or discredit us then please explian to me the right in what he did.

I think you must admit, that the responses you have received thus far, are a direct result of the way you presented your house scenario. REMEMBER, I am only referring to the house sale, NOT about Penny Auctions in general, so lets stay focused shall we? Also remember, we are not mind readers, we can only go by the way you presented yourself when describing your house deal, I must say, and this is not meant to be confrontational, the way you articulate yourself needs some fine tuning.

Again all I did was answer questions honestly and clearly state in the first response towards both Ryans outraguos rediculous comments within his 2 replies follow our first post that this house was only just put on the website and that we did understand that it may not sell or that it may take quite a while. Without repeating everything please read those response as it also states that we are working to launch a hugh media hit as well.

There is nothing wrong with the way I have replied to what can only be called totally unfounded, uncalled for, false and misleading accusations.

Insofar as your comments about some Penny auctions being less than ethical, you are absolutely correct on that point, but that holds true of any type of business. The ones who are dishonest will be weeded out in due course. There are also some very honest ones around, with these in particular, if and when they make mistakes, they are not afraid to admit it and immediately take the necessary steps to correct it.

I totally agree with you and this is exactly why when I found this place I joined it because I totally agree with this forums intensions. What I do disagree with is slandering new businesses no matter what they are or who they are with false and unfounded accusations and comments without asking questions or trying to find out what is actually happening or why it is the way it is.

Again this try of behavour can only be seen as being totally disgraceful under the eyes of many and ever yourself would not put up with this if it where you in my position.

There are many variations of the Penny Auction concept surfacing all the time, yours being just one of them. As a suggestion if I may, I would re-visit the SHORT TERM EFFECT of your house situation by asking yourself these questions...

1. Will I make any money on the short term or the long term? 2. If it is on the long term, can I afford to wait for my money on this deal? 3. Does this particular facet of my penny auction business detract from other, more beneficial aspects of my business which provide me with more SHORT TERM money? Special emphasis on the short term.

Yes there are many versions as we have spent 18 months looking into all of them which is why we chose to build this version.

As to your question about the long or short term benefits about what we are doing. Yes we have looked at this very closely and completely understand what we are doing and the fact that it may not work.

There is quite a bit more happening with our business than people are aware of as this is only the beginning of an extremely large project which by the time we have finished will have cost us quite a few 100 thousand dollars.

We believe that what we are doing has a going to be so big that it will change the way all pennyauction sites of anykind are being looked at, but this needs time to be impliment correctly. Timing is everything in business. We have the resources to sustain any losses and have the resorces to keep going for as long as we need to. please read my reply on this post " Swoopo!: Do Penny Auction Sites Run Afoul of California Gambling Laws? " as it will show that we do mean business and that their is nothing illegit about us.

All we ask is that the constuctive critisim and susggestion as to what we could be doing differently be kept to just that and not be accused of or have false information slandered for no reason.

Respect others as you would want to be respected.

This forum is all about weeding out the wrong doers with this type of busines not degrading those that have done nothing wrong.

That's all from yours truly for now, so be nice, we are not out to get ya. Whenever someone wants to argue with you, just say... ALL THE LITTLE BIRDIES IN THE NEST AGREE, WHY CAN'T YOU AND ME? LOL.

LOL,, I thank you for your imput and please beleave that there are no bad feels between us at least not from my end anyway as I have done is answer your questions in full as I have done so with all other replies.

I thank you and wish you Good Health.

Cheers

GOOD ON YA MATE.[/QUOTE]

[Barbarian]

Ok NUF said on the subject, I think it has been beaten to death. I will be launching a Penny Auction of my own soon, so you will have a chance to critique it. If anyone starts picking on poor little old me, I hope the Aussies come galloping to my defense. LOL

All in all, I think it will have an nice impact on the industry. Like yours, it is well funded, but the money will be spent on making it grow instead of using what money we have to fund losses, which many businesses have a tendency to do. We are not in the business of losing money.

I honestly think that there is room enough for everyone, I for one, will even support my competition when it comes to setting stringent and ethical guidelines for the industry. Penny Auction Watch being one of the better venues around, will no doubt play a major roll in how the industry evolves.

Good luck in your new venture.

[Eileen]

This 'lowest unique bid' auction isn't any different than any other lowest unique bid auction, except that it has the seat auction element involved to start the auction rather than a timer to end the auction. I like knowing that there are only a certain amount of bids. Bottom line is we know that they are opening it up to 60,000 bids (not bidders, bids) for a total intake of $600,000 (before the $5,000 they are paying the winning bidder for the lawyers fee for the sale of the property). $10 a bid seems like it's a reasonable amount to possibly get people to put in more than 1 bid (I know I could drop 10 bucks on a $50 auction easily). Maybe it's the 60,000 that looks so ominous. I don't know, would people feel better if it was 30,000 bids at $20 (for a $500,000 condo I might put in more than 1 bid for $20!), or 15,000 bids at $40, or better yet 6,000 bids at $100? (Did it see somewhere that it was a non-profit? Tax-deductible for US?) If one can choose to the penny (Dubli's unique auction is to the quarter), it might seem that there is actually a greater possibility of winning and that's not including the possibility of duplicate bids. I'm not a statistician. I just know it's less depressing to lose $10 than $100, so I see the idea of raising the amount of bids, but I agree it will feel like forever before the 60,000 is reached.
Could you put a currency calculator on your site?

[Auction Owner]

Originally Posted by Eileen

This 'lowest unique bid' auction isn't any different than any other lowest unique bid auction, except that it has the seat auction element involved to start the auction rather than a timer to end the auction. I like knowing that there are only a certain amount of bids. Bottom line is we know that they are opening it up to 60,000 bids (not bidders, bids) for a total intake of $600,000 (before the $5,000 they are paying the winning bidder for the lawyers fee for the sale of the property). $10 a bid seems like it's a reasonable amount to possibly get people to put in more than 1 bid (I know I could drop 10 bucks on a $50 auction easily). Maybe it's the 60,000 that looks so ominous. I don't know, would people feel better if it was 30,000 bids at $20 (for a $500,000 condo I might put in more than 1 bid for $20!), or 15,000 bids at $40, or better yet 6,000 bids at $100? (Did it see somewhere that it was a non-profit? Tax-deductible for US?) If one can choose to the penny (Dubli's unique auction is to the quarter), it might seem that there is actually a greater possibility of winning and that's not including the possibility of duplicate bids. I'm not a statistician. I just know it's less depressing to lose $10 than $100, so I see the idea of raising the amount of bids, but I agree it will feel like forever before the 60,000 is reached.
Could you put a currency calculator on your site?

hello

I totally agree that the look of 60,000 bids is what scares people and is also what makes them think it will be forever before it closes.

As this is new here the feedback we are getting from members and the most common statement is " we will wait untill it gets to a much lesser amount before placing our bids.

Every single one of them love the idea of what we are doing but the problem is and this is where it is up to us to teach the public, is that the longer they wait the longer the auction goes for. They don't understand that by bidding sooner and/or quickly that it will close the auction sooner.

Our goal with this is to sell at least 1 house per week in this manor, so this is why we are be extremely careful with how we market this and put the message out in a way that everybody will understand exactly how it works. Like I said this has never been done before let alone in such a hugh manor to achieve our future goals.

Thier is a very specific reason we would rather have higher bids and a lower ADMIN FEE and I do mean a very specific reason, which I will say in just a sec.

Our goal is to make our business a public driven and owned industry like Lottery companies, meaning that other than about 5 to 10 percent of profits the whole rest of all profits made goes back into the community to places like the rural fire services that risk thier lives every summer to save other peoples homes and work god damm hard at it with little reward, and also be able to give to the victims to help them get back on their feet, also to kids community sporting clubs and any other needy organization. Basic we want it to go back into the cummunity to real needy causes. this and only this is what we have built our business structure on doing and achieving.

Having said all this the reason we would rather have a low admin fee is because our other goal is to make buying a home available to all those that can't save up a deposit to buy a house, can't get a bank loan for what ever reason, don't have a high enough paying job to afford buying a home, have a bad credit rating, etc, you get the idea.

By keeping the admin fee down to a minimum we are giving a chance/opportunity for all of those people to acutally have a fair and equal chance at owning a fully paid for house, this is the reason we include all the fees that goes alone with buying a house so that the winner only needs to pay the winning offer and nothing else at all and the keys are theirs. This would give a family a real great kick off in thier life and even give them an instant life changing experiece.

The way we see it their is no other government, bank, broker, or financial institution in the country that can offer or do offer what we are offering at such a low price other than winning a lottery type game and we all know what their odds are at wiining one of those. I personally have played for 35 years and nevr won more than $20.00 and t even that only happens once or twice a year.

As for your question about a currency calculator I would be more than happy to place on on their and i will do this personal tonight, you will find it in the purhase credits page which is visable in the members area page once you log in. I will also place one in the frequently Asked Questions page under "How Much Are Credits" question.

We are based in Australia and if you are i the USA you would have to be sure that you are allowed to own overseas properties if you won this otherwise we would not be able to give it to you. so please be aware of what you are bidding on. we know there is no problem with the smaller items that can be posted and all postage is free. We also have heard but can't be sure that some states may allow you to own properties overseas.

As for our bidding increment it is set at 1 cent Austrailian. So if the Lowest Unique bid Offer is 1 cent then that is all the winner pays and this goes for every item on our website.



Cheers

[Auction Owner]

Originally Posted by Barbarian

Ok NUF said on the subject, I think it has been beaten to death. I will be launching a Penny Auction of my own soon, so you will have a chance to critique it. If anyone starts picking on poor little old me, I hope the Aussies come galloping to my defense. LOL

All in all, I think it will have an nice impact on the industry. Like yours, it is well funded, but the money will be spent on making it grow instead of using what money we have to fund losses, which many businesses have a tendency to do. We are not in the business of losing money.

I honestly think that there is room enough for everyone, I for one, will even support my competition when it comes to setting stringent and ethical guidelines for the industry. Penny Auction Watch being one of the better venues around, will no doubt play a major roll in how the industry evolves.

Good luck in your new venture.

I agree-- Thank you

Good luck with your new venture and i also hope it works out.

may I ask which country you are in please.

cheers

[Auction Owner]

The currency converter is now where I stated in the post above that it would be.

cheers

[PennyAuctionWatch]

It was never PAW's intention for new entertainment shopping/penny auction bidding sites to get slandered please I hope you do not think that is the case. Thank you for answering questions and telling us about your site.

---
I know this may be a stupid question since I am not familiar with real estate laws in Australia, but would you be receiving a commission on properties? Also is this regulated in any way/shape/or form, because I do know that if an agent sells a house for someone in the USA, they have a fiduciary relationship to the seller and must be licensed to receive a commission/referral fees. Or are you only acting as an outlet for agents/owners to list their houses so you would not receive a referral fee or kickback of any kind that would require you to have a real estate license? Once again I apologize if this is a bad question as you do know more what you are doing than I do and you do have a lawyer, I was only curious about this. Guess I should read up on RE laws in Australia.

Thank you.

[Auction Owner]

Originally Posted by PennyAuctionWatch

It was never PAW's intention for new entertainment shopping/penny auction bidding sites to get slandered please I hope you do not think that is the case. Thank you for answering questions and telling us about your site.

---
I know this may be a stupid question since I am not familiar with real estate laws in Australia, but would you be receiving a commission on properties? Also is this regulated in any way/shape/or form, because I do know that if an agent sells a house for someone in the USA, they have a fiduciary relationship to the seller and must be licensed to receive a commission/referral fees. Or are you only acting as an outlet for agents/owners to list their houses so you would not receive a referral fee or kickback of any kind that would require you to have a real estate license? Once again I apologize if this is a bad question as you do know more what you are doing than I do and you do have a lawyer, I was only curious about this. Guess I should read up on RE laws in Australia.

Thank you.

Hi

No question is ever stupid; I Aust a house onwer is allowed to sell their own home as they wish this includes privately, What is required is that all transistion be held by a lawyer and not personally.

Their is a very fine line within the law as stated on the statement on the topic about law on your forum. What that lawyer says is absaloply correct as all us pennyauction website operate within the extreme fine line of the law whether it be UK, USA or Aust as these are the countries that have the most types of auctions.

If you read my post here Swoopo!: Do Penny Auction Sites Run Afoul of California Gambling Laws? you will see that we are in the process of changing the law within Aust, well not so much change it but actually create a new law specifically for these pennyauction websites. please read that post.

As for the fees question we do not take a fee from the owner or the price of the proprety and as such do not full into those guide lines. Again a fine line but that's the way it is.

This fine line has extreme limits and you must have an extremely good knowlage of the law and what you are doing so that this line does not get crossed in any way what so ever.

Because we have marketed this in such a hugh manner in AUST we are watched very closely by gambling authorties and real estate lawyers and watchdogs and untill we cross this very very fine line they will not touch us, as well as those we are also under the media watch list and acually have members of all these places on our website how check things out.

We are actually in a race with the Aust gambling commission of Aust because they are looking for ways to shut pennyauctions down and we are attempting to have a new law created. So it is a race as to who gets there first. the gambling commission have been trying for 3 years to shut pennyauctions down so We give our chances a fair one.


We ahve quite a few high end people working on this and it costs a fortune but if we succeed it will give pennyauctions a much more relaxed feeling about running one.

I wouldn't be far wrong in betting that the USa gambling commission would be trying to look at ways at doing the same thing because I do know they are in the UK.


cheers

[Barbarian]

Hi, To answer your question, we are located in Tampa Florida. I would like to offer a suggestion. Before you transmit the final draft of your posts for all to see, first copy paste it into an area where you can do a spell check, once done, you can then re-paste it ready for transmission.

I hope you don't mind this suggestion, it will no doubt make what you have to say look much more professional, literate and understandable to the reader.

[Auction Owner]

Originally Posted by Barbarian

Hi, To answer your question, we are located in Tampa Florida. I would like to offer a suggestion. Before you transmit the final draft of your posts for all to see, first copy paste it into an area where you can do a spell check, once done, you can then re-paste it ready for transmission.

I hope you don't mind this suggestion, it will no doubt make what you have to say look much more professional, literate and understandable to the reader.

LOL,,Yes I have a bad habit sometimes of typing to fast.

Shall do.

Cheers

[Ryan]

Given that it is a lowest unique bid auction, when a user places a bid do you warn them that their bid is either not unique or not low enough?

[Eileen]

#21 on their FAQ's page says that they will email you if you are the lowest unique bidder, and also if you are no longer the lowest unique bidder, and if your bid was duplicated.

[Eileen]

I should have said "or" not "and", they say they will email with any changes to the bid placement.

The currency calculator is added onto #5 of FAQ's page.
Thank you, that was quick.

[Auction Owner]

Originally Posted by Ryan

Given that it is a lowest unique bid auction, when a user places a bid do you warn them that their bid is either not unique or not low enough?

Yes we do.

They receive 1 of 3 responses with each bid.

1 - Your bid is the Lowest Unique Bid

2 - your bid is not the Lowest unique bid

3 - Your bid is Unique but currently not the lowest unique bid

Also keeping in mind that what ever your possition that it may change at any time during the progress of the auction. If you have a LUB today , it may not be tomorrow . but may be again in a week. As long as you have a unique bid thier is always a chance that it may become the LUB by the time the auction closes. No bid offer placed is ever discarded at all and all count towards having a chance of becoming a LUB except for those that are duplicated, and even they are not discarded as if when the auction closes there are no Unique Bids the the system looks for the Lowest Unique Pair/duplicate Bid Offer and the first to have placed that bid offer put of the 2 will win.

This is an advantage to placing bids in early. But what ever happens there will always be a winner found.

Once an item is sold the whole bidding process for that item will be published on the website for all members to look at and study. When this happens it will give a greater insight as to how bidders think and bid plus show how many members actually placed bids and how many bids each member made.

So once items start selling and we publish results we will have met full circle as to having everything out in the open for members to see how it works.
Cheers

[Auction Owner]

Originally Posted by Eileen

#21 on their FAQ's page says that they will email you if you are the lowest unique bidder, and also if you are no longer the lowest unique bidder, and if your bid was duplicated.

You only receive an email if your status changes if you received a message like 1 or 3 of those in the post above. As for the seond response once a bid is duplicated it can never become a Unique bid as such does not need and furture information to follow it's status.

Cheers