Penny Auction- penny auctions are timed auctions where users pay for each bid they place. Each bid placed raises the price of the item by .01c and also adds time to the clock. The last bidder to place a bid before the time runs out wins.
- Someone who enters (jumps) into an ongoing auction and causes the auction to continue for any duration of time
Stamp- Bid first on an auction. You are claiming that you are going to bid on this item and that you are interested. this is done asap, sometimes days in advance.
Tag & Defend- The VERY FIRST bidder to bid on an auction. This bidder typcially bids first and will go as long as he/she can afford
Power Bidder- Someone who is very aggressive and who is willing to spend more money than necessary to win ANY item
Noob- bidder who is new to penny auctions
Imposter- Someone who deliberately or accidentally copies another bidders name.
Example- imgonnawin, img0nnawin, iamgonnawin, imgonnaw1n, imgonwin
these are all similiar names but they may be several different users
RESPECT- "if you dont bid against me, i wont bid against you"
respect is given when a user stamps an item and is clearly going after an item and has clearly shown that he is willing to spend the money to win the item
Trigger Finger/Throttling - Someone who instantly bids. this person tends to watch one or two auctions and bids instantly when other users bid. this persons name is always on top when viewing at the auction.
this strategy typically leads to a quick and easy victory or spending a TON of bids in a very short time.
Bidbuddy/autobid/bidbutler- allows you to set a certain amount of bids on a certain auction and allows you to bid on an auction with out actually sitting at the computer
PA- Penny Auction
BIN- Buy It Now, some penny auction sites allow you to buy the item when you have reached the price of the item you are bidding on
Reserve- a reserve is a minimum amount of bids that has to be collected in order for the item to be given to the winner. New sites tend to throw reserves on items so they will receive a certain amount of money on the auction
Win Limits- win limits are imposed to allow all users a better chance at winning. win limits are set so that certain bidders can win a maximum amount of auctions in a certain day, week, month etc..
Shills- Penny auction owners, friends, and employees who act as bidders to attract more bidders to their auctions. Shills also run the price up on auctions to make sure that the auction makes them money
Bid Bots- a program that bids at the last second to run up the cost or to make sure your bid is in at the very last possible second. users sometimes use these programs to save money- they get caught eventually. PA sites sometimes use them to run up the price of auctions to make more money
Leading Bidder- This is the name that is currently on the auction while the auction is in progress. It is whoevers name that is at the top of the bid amounts section during the auction. Leading bidder changes every time someone bids.
1 Second Bidder- Someone who bids at the last possible second in the auction. If the auction is counting down 3...2...1 this person will bid right before it hits 1 second. This results in prolonging the auction that much longer and it is very aggravating to the person who is the leading bidder.
Progressive Auction/Ladder Auction- A Progressive/Ladder Auction is typically an auction that consist of gift cards with a low value, and as bidding takes place, the value of the card becomes increasingly more valuable. For instance a gift card may start out at $10.00 and once the auction has reached "$X.XX" price it will then turn into a $25.00 card, then when it reaches the next predetermined price it will turn into a $50.00 card and so on. So the value of the card progressively gets larger.
Trap Pages- http://www.youtube.com/watch?v=vn0G6RU4Ghg
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