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Informative Articles

Internet Car Auctions Can Take You For A Ride
The Internet has provided the public with a useful and convenient tool that makes it easier to do all manner of things than it used to be. One of these things, oddly enough, is the sale of motor vehicles. It seems strange that cars would...
4 Tips To Saving A Bundle At Your Next Car Auction
Many of us have been at the car dealership and have been drained by a salesperson during price negotiations for the purchase of a new car. Most people give in too easily or do not negotiate at all to avoid the dreadful act. This only means more...
Shipping Supplies For Your eBay Auction Business
Auction supplies are clearly an expense and major consideration for an eBay auction business. Of course, the most critical supply is the item you are selling, but mailing supplies are necessary for every auction and their cost and supply must be...
Take Advantage of Mistakes Auction Sellers Make
Now one of the funnest and most profitable auctions you can find is misspelled items. You might be able to get a tidy profit of $50 or $70 dollars easily by searching for items that auction sellers make mistakes in when placing their ad. One...
Boosting Your eBay Auction Profits: Just Add Audio
Are You Getting The Highest Possible Profits From Your Ebay Auctions? Here's a tip: Add audio to your auctions. According to a recent report, adding audio to your eBay auctions could increase bids by as much as 22% over auctions without audio. ...
 
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 http://www.chiff.com/a/fSCAMauc.htm


For a list of minute-auction websites, refer to: The 3 minute auction list at 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!






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