|Description||Online Penny Auctions|
Beezid is an online auction site where users purchase bids so they can participate in daily auctions on brand new, brand name items. Beezid was launched in 2009, and is based in and run out of Montreal, Quebec, Canada.
In order to participate in auctions, users must first register on Beezid.com. Upon registration they receive ten free bids as a trial. If they then wish to bid on auctions, users must then buy â€œBid Packsâ€ which are essentially credits they use to bid. Bid packs are sold in quantities of 30, 50, 100, 200, 350, and 500 bids and can be purchased using a credit card or PayPal. Users can also bid on Bid Packs in auctions.
When bidding on standard auctions, the price of the item goes up by $0.01 per bid. The timer gets reset for between 10 and 45 seconds each time someone bids. When the timer runs out, the last bidder wins.
Users can bid manually, or use automated features such as AutoBeezid or Sniper bidding. These features allow you to set functions to bid for you. There are four main types of auctions: Regular Auctions, Cherry Auctions which are exclusive to users who are yet to win an auction, Thriller Auctions where AutoBeezid and Sniper bids are disabled and bids are real-time only, and Bid for Free Auctions where there is no cost to bid and the user pays the end price only. Reveal Auctions are a fifth type of auction and work differently. In this type of auction the item decreases in price rather than increasing every time someone bids. The user cannot see the price of the item until they make a bid to reveal the price. There is the option to buy the item once the price has hit its â€œSweet Spotâ€.
Beezid has television commercials on DirecTV and the DISH Network, as well as radio commercial spots on Sirius and XM Satellite radio. Beezid has been repeatedly featured on the Howard Stern show on Sirius Radio.