Surplus Auctions Exposed: 95% Off Retail Possible?

As part of a new series: "Ways to Save Money During The Recession" We examine tips for getting what they need for much less!

Julie investigates new shopping trends on the internet.

Surplus clearance auction websites are a new phenomenon that is quickly spreading through North America and Europe (like you have probably already seen). They are all over the internet in blogs and success stories of people who have apparently bought expensive items at a fraction of what they normally cost. However, we were very skeptical of whether or not the deals on these surplus clearance auction sites were real, so we decided to put them to the test. What better way to find the truth than to conduct our own study?

I wanted to buy a new HDTV, so I was put in charge of the test.

First, I did a ton of research on the subject to find out which penny auction site was the most trustworthy and ultimately would be best suited for my test. After hours and hours of research I came to the conclusion that BidRack was best because of its wide variety of products and BBB rating. The way these auction sites supposedly work is that you buy bids to bid against other people in online auctions. If you win, you get to purchase the item at a greatly reduced price. BidRack had a new promotion, for a limited time, they were giving out bonus bids on signup. This created an ideal situation for me, giving me the bids necessary to thoroughly test the auction site. This promotion is to help spread the word about shopping with BidRack and show people how much they can save with surplus clearance auctions.

Wondering How BidRack Can Provide Such Deals?

BidRack gets their items from warehouse closeouts, surplus auctions, and liquidation clearance auctions. This is how they can offer such low prices in comparison to retail outlets.

What Do They Put Up For Auction?

I've seen everything from phones to computers, laptops, TVs, cameras, stereo equipment and pretty much anything you can think of.

Putting BidRack to the Test

After going through a simple registration process on BidRack, I got my bids and began to try and win items listed up for auction. Before registering, I was still a little confused about the whole process - but after registering everything became clear.

I began to bid on the item I was after, a 42" Panasonic LCD TV. Surprisingly, I won after a very short period of bidding. It cost me only $67.50 total for a $899 HDTV!

To make sure this wasn't a fluke, I decided to try again to see if I could win another item - again, to my surprise I won yet again - this time the savings were bigger! I ended up spending $163 for a $1,199 MacBook Pro. Very impressive, and I don't think stores can match such deals!

Shipping - after I won the products and paid for them - I received the items in only a few days. Within a short period I had my items in hand. Simply amazing.

My Full Experience With BidRack*
Week One
Research on the penny Auction system and how it works, and how you could legitimately get 95% off retail prices. You buy bids to bid against others in auctions. If you win, you get to purchase the item at a reduced price. I saw there were many users who won multiple auctions and knew with the right strategy that could be me.
Week Two
After finding that BidRack was the most legitimate surplus auction site around, I decided to register and claim my 25 bonus bids with my first bidpack purchase. I messed up on my first try, and didn't win the auction, but it didn't cost me much, so I continued to try to really find out if this system works.

I developed my system. I started to look for an auction that didn't have a lot of bidders. Typically these were the auctions taking place between 1am-5am EST.
Week Three
After some trial and error, I was able to win my first auction. After that, I decided I'd try again and see if it was possible to win more than once in a row. This possibility became a reality, and I won my second auction. After this, my bids were mostly spent, however I was VERY EXCITED to see my cheap items being shipped to me!
Week Four
I received my items, All were brand new and they were in mint condition as promised. Packaging was very good. I will never use a regular auction site again! I still can't believe I received these items for such a discounted price!
I couldn't be any happier with the results

A Step-By-Step Guide To BidRack

Now that you know BidRack can offer real savings, you may be wondering how exactly it works. Don't worry - we'll tell you everything you need to know! Here is our step-by-step guide to get you started:

Step 1:

Register as a user at BidRack and get your bids.
UPDATE: Try our exclusive link and use coupon code "FREEBIDS"get 25 Free Bids with your first bidpack purchase!

Promo expires on Thursday, April 28, 2011

Step 2:

Search the auctions until you find an item that appeals to you.

Step 3:

Start placing your bids.

Step 4:

When you win the auction, you'll be taken to the checkout where you can pay for your item at whatever price you won the auction for!

It's really that easy!

Conclusion

Overall, I had a very positive experience with BidRack, which was very surprising to me. What once seemed impossible has now turned into a reality, a possibility to get 95% off retail!

P.S. BidRack has agreed to keep the free bid promotion active for our readers for a short while longer. Get in on it while you can!