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The 3 Minute Auction and Minute Auction Explained
Am I the only person who doesn't know what a 3 minute auction
is? Looking for fresh content for my site, I discover that
"minute auction," or even a 5, 10 and 30 minute auction is a
popular item. Some auction sites may refer to a minute auction as
a "Live Bid." The "minute auction" or "3 minute auction" actually
comes the closest to duplicating the excitement (and anxiety) of
a real auction. No, it is not the same as an eBay minute
auction.
I will give the example of Bidz.com. Bidz.com uses Flash
technology to constantly update in real-time auction bids right
before your very eyes! The price goes up, up, up and the time
clicks away ... down, down, down!. Add flashing green highlights
for added new bids and red flashing for the ominous approaching 0
minute and to say the least, it is quite thrilling.
On the Bidz home page, there is a link that says 3-minute
auctions. This is a separate category all by itself. If you click
that link you are taken to the 3 minute auctions, usually
consisting of jewelry. (Note: See end of article for "The 3
minute auction - too good to be true?")
A word of caution: It takes a little finesse to bid at these
fast-paced auctions - and I mean FAST! You must be EXTREMELY
CAREFUL when bidding. The highest bid I came across on my visit
was for $1500. My advice would be to practice on the dollar
starting bids. Bids quickly escalate to $15 and $30. In the words
of BidZ:
"If you are bidding on items in the 3 Minute Auctions
category, you will not be notified if you are outbid. These
auctions move very quickly, so you have to monitor your winning
bids very carefully."
Back on the 3 minute auction page of BidZ, what do you see?
>From left to right: the product picture, the item number,
title, price, bids, and time left. The "bids" and the "time left"
are where the auction action is at. But just as its nearing 0
minutes left, it jumps up to more time left - what gives?
According to Bidz.com:
"If the bid is placed during the last minute of an auction,
the auction will be automatically extended for an additional 1
minute from the time of the latest bid. The auction will close
once all bidding has stopped for a period of 1 minute."
OK - I decide I am going to get in on this action. Registering
is free (username must be a combo of numbers and letters). I have
to click on the picture to go to the listing to actually bid
according to Bidz.com directions below:
1) Simply use the "plus" and "minus" graphic keys to select
the amount you would like to bid. The amount of the next bid is
automatically one dollar more than the current bid. If you only
want to place a one dollar bid, you can just click the Bid button
without any adjustments.
2) Click the bid graphic button to register your bid. PROBLEM:
I click the Bid! button and then find out I have to register my
credit card in order to bid - but they didn't tell me that when I
was registering (even though I quite expected it).
Another problem I encounter is a sluggish modem. By the time I
reach the listing page and the picture and bid button loads, the
auction can be over (sigh...).
Its not hard to become giddy over the amazing deals of a 3
minute auction...too good to be true? 3 minute auctions
"typically offer expensive items, such as Cartier watches, Beanie
Babies, computers, and cars at prices that are low enough to dull
the scam alarm in most people."
This was taken from an auction fraud article. The same article
reports that the Federal Trade Commission has identified a scam
email that includes "Live 3 minute auctions" in the subject line.
See the details of the 3 minute auction scam at
www.chiff.com/a/fSCAMauc.htm
For a list of minute-auction websites, refer to: The 3 minute
auction list http://shmyl.com/dpzison
My final words: The 3 minute auction and minute auction are
the epitome of auction entertainment. So pop some popcorn, invite
some friends over, and have yourself some Friday night auction
fun!
About The Author
Renee Matt maintains AuctionTongue.com, a review site of
auction tool, free auction templates, auction software, auction
sniper and image hosting services. AT focuses on auction websites
outside of eBay. Sign up for their FREE Auction Freebies
newsletter: http://www.auctiontongue.com/; renee@auctiontongue.com
 MORE RESOURCES updated Thu. February / 09 / 2012
The Drinks Business |
Spectrum auction “redefines” London sceneThe Drinks BusinessThe inaugural Spectrum wine auction in the UK was hailed as “redefining” London's auction scene after last night's sale. It was standing room only at the ballroom of the Mandarin Oriental as bidders competed for lots of Domaine de la Romanée-Conto La ... |
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College show a dress-up affairVictoria Times ColonistIt includes food, music, games, prizes and auctions. Casino Royale has a James Bond theme, so guests are encouraged to wear tuxedos and gowns. The decor of this year's fundraiser will bring to mind Montenegro, one of the settings of the 2006 Casino ... |
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Kickbacks row: AP proceeds to review excise policyZee News"The current system of auction (of liquor shops) is flawed. It needs to be revised...we are on the job," Mopidevi told newsmen here today. A team of senior Excise Department officials visited Tamil Nadu recently to study the excise policy in vogue ...and more » |
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Hart, S - Superfast BroadbandDeHavilland (press release) (subscription)In reply, Mr Hart asked about what could be done to help those left out of the plans. Responding, Mr Hunt said that Ofcom's announcement for 4G spectrum auctions would mean that 97 per cent of the country would be reached, but more should continue to ...and more » |
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Muckdogs planning for Hot Stove eventThe Daily News OnlineBATAVIA — The Genesee County Baseball Club will conduct its annual Batavia Muckdogs Hot Stove dinner and auction on Friday, March 2, 2012, from 5:30 to 8:30 pm at Terry Hills Golf Course and Banquet Facilities at 5122 Clinton St. Rd. Tickets are $25 ... |
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After kickbacks row, AP to review excise policyZee News"The next round of auctions is due in June. So we should have a new policy in place before that," the Minister added. "Syndicates are neither new nor restricted to liquor trade alone. Syndicates exist in sand and other businesses as well," Mopidevi ...and more » |
Parda Phash |
Pay more for your favorite beverage!Parda PhashSo the prices of this variety of tea are expected to go up at auctions. It will push up CTC tea retail prices in the domestic market," Arun N. Singh, managing director and chief executive of tea major Goodricke Group, told reporters over phone.and more » |
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