Here is an interesting website some of my readers might be interested in. I haven’t had the opportunity to try it out personally yet, but it looks interesting.
The website is called YouNeverLose (YNL). Unlike other penny auction sites the only items being auctioned off on YouNeverLose are gift cards.
I checked out past and current auctions and find that you can bid on gift cards from American Express (AMEX), Home Depot, Amazon, Wal-mart, Starbuck and Apple. The gift card auctions are also for various amounts such as $50 gift cards and $25 gift cards.
Some of the past auctions ended at ridiculously low (and I do mean LOW) final bids. For example, someone won a $50 Amazon gift card for only $1.02. And someone else picked up a $25 Starbucks gift card for only .23 cents. WOW! Too bad I didn’t know about this website before Christmas. I would have saved a lot of money.
My mom always said “If it sounds too good to be true it probably is“. While that might be true in most cases, it would seem like the auctions at YouNeverLose.com are legitimate.
This is how it works, according to the website.
Gift cards are put up for auction with a starting bid of 0.00 and it set with a pre-determined auction time (usually two hours). You bid on the gift cards using points (more on that later).
Each time a reward point is used (by you or others) the price goes up by only .01 cent. That means if 10 people bid most likely the high bid would only be .10 cents.
Things usually don’t heat up until the last two minutes of the auction. That is when the most bids occur. In the last two minutes every time someone places a bid another 20 seconds is added to the time to give others a fair chance to bid.
If you happen to be the lucky winner, most likely you’ve won a gift card at up to 95% off its retail value.
The way you get points to bid with is unlike any other auction I have ever heard of.
You purchase points in the amount of $25, $50 or $100. You will receive a gift card IN THE SAME AMOUNT from a popular retailer like AMC Theaters, LL Bean or Brooks Brothers (for example). The gift card will be sent to you with FREE shipping too.
In other words you could be $25 in points and you’ll receive a $25.00 gift card shipped to you FREE and 25 points to use on the auctions. It seems simple enough.
It looks like an interesting site and the next time I have some extra $$$ to buy some points I’m going to give it a try. What do I have to lose? I still get a gift card based on my purchase and I might luck out and be able to pick up several other gift cards with the points I get.
For more information or to check out the current auctions visit www.YouNeverLose.com. You can also find them on Facebook (www.Facebook.com/YouNeverLose) and on Twitter (www.Twitter.com/You_Never_Lose).
Kimberly
Lindley A says
I checked it out and there is a $5.00 shipping charge on any gift cards you win (not the ones you buy-that shipping is free) so that is something to keep in mind- but a $25 gift card for $5.23 is still a pretty good deal!