The Full Wiki

More info on NickelBids Online Auction Site

NickelBids Online Auction Site: Wikis


Note: Many of our articles have direct quotes from sources you can cite, within the Wikipedia article! This article doesn't yet, but we're working on it! See more info or our list of citable articles.


From Wikipedia, the free encyclopedia has been launched since February 2009.Bold text

Mechanics In order to participate in an auction, registered users must first buy bids (called credits, and henceforth referred to as "bid-credits") before entering into an auction. For the US version of the site Bid-credits cost $0.60 apiece and are sold in lots (called BidPacks) of 35, 70, 150, 325, and 1000. Each credit is good for one bid. Standard auctions begin with an opening price of $0.12, every time someone bids the price increases by $0.12. Other auction types use different values, penny auctions use $0.01, 6¢ auction $0.06 etc. The price of bids and the increment values vary depending on the regional version of the site used.

The auction ends when time runs out. However, because each bid extends the length of the auction by 10–20 seconds, the auction could theoretically continue on indefinitely.

Besides making single bids anytime, users can place a so called "Bidbutler", which is an automatic bidding tool. Users can employ a maximum of 50 Bidbutler bids each time. Once a Bidbutler is active it will automatically bid in the final 10 seconds of the auction in an attempt to keep the user as the highest bidder. This means if two or more Bidbutlers are active they will repeatedly bid against each other (before the auction time increment is applied) until the one with the most bids left is the "winner". Bidbutler bids hold no more value than single manually placed bids, so once the bids booked for a Bidbutler are exhausted a single manually placed bid can become the winning bid.

The money collected by NickelBids consists of the cost of bids placed and the final auction amount. As an example, a MacBook Pro with a suggested retail price of $1,799 was sold on NickelBids for $35.86. However, a total of 3,585 bids were placed, so the total price to NickelBids customers was $2,151. [2]

NickelBids has claimed to make money on roughly half the items sold.[3]

Users from NickelBids must bid against users in all countries where NickelBids operates. As of August 2009[update], NickelBids operates in the United States.



Got something to say? Make a comment.
Your name
Your email address