North Carolina Entrepreneurs Launch New Penny Auction Website

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Bid-Bob.com is a Penny Auction site designed to provide more winners per auction, create the ultimate entertainment shopping experience, allow customers to purchase products at 90-95% off retail price, and showcase a charitable giving program that is unmatched in our industry.

Changing the paradigm of Auction Websites

Bid-Bob.com, a penny auction website based in Winston-Salem, N.C., launched on Thursday May 5, 2011, with an option for shoppers to purchase bids at a 20 percent discount before product auctions begin on May 19, 2011.

The website presents an opportunity for bidders to save up to 95 percent on purchases, including major electronics items such as iPad2s, Flat Screen TVs, Barnes and Noble Nooks, and the iPod Touch; Target, Walmart, BestBuy, Amazon.com, Home Depot and Trader Joe's gift cards; appliances such as Cuisinart Food Processors and Keurig Single Cup Coffee Makers; and specialty items including P90X Workout DVDs.

Bob MacReynolds, founder of Sheridan Recruiting Services in Winston-Salem, N.C., will serve as Chief Executive Officer of Bid-Bob.com. Winston-Salem based CPA Larry O'Dell will serve as Chief Financial Officer. Jason Boccardi, President of Boccardi Wealth Management, Inc., also headquartered in Winston-Salem, will serve as Chief Operations Officer.

In a penny auction, each bidder pays an auctioneer's fee for the right to bid on the item. Each bid placed on the item raises the auction price of the product by one penny, and resets the timer to either 10, 15, or 20 seconds. When no subsequent bids reset the timer, the timer runs out. The person who placed the last bid wins the product.

Bid-Bob.com is unique compared to other penny auctions because bonus prizes are built into many items. For example, even if a bidder doesn't win an auction, he can still win an incentive prize by being the next highest bidder, or by placing a bid at a pre-designated price point.

"We wanted to design a website that rewards dedicated customers, even if they don't place the winning bid on a product," said MacReynolds. "This feature presents more opportunities to win on Bid-Bob.com, than any other penny auction website."

Another unique feature of the site is the automatic charitable donation. After each completed auction, Bid-Bob.com will make a donation to the auction winner's choice of Bid-Bob's charity partners. Over 40 auctions a day provide many opportunities to impact both national and local charities. A minimum donation level of $5 applies to all qualifying auctions.

Some of the charities that benefit from Bid-Bob.com are: Crisis Control Ministry, Inc., Susan G. Komen for the Cure, Backpack Beginnings, Autism Speaks, St. Jude Children's Research Hospital, and the CJ Foundation for SIDS.

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