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How Peekaboo Reverse Blind Automated Auction Works:

  • The Sellers initial starting price is always less than the Sellers redemption value when the auction starts, so bidders are already guaranteed savings! For example let's say the seller offers a $100 redemption value certificate for $80.
  • Peekaboo will always pay the seller its $80 upfront whether or not the certificate is ever used, but the winning bidder may pay much less because the current asking price keeps dropping!
  • The auction winner may claim the $100 redemption value; if for example, the current asking price goes down to $30. In this scenario the auction winner pays $30 and gets the $100 value and Peekaboo adds $50 and pays the seller its initial asking price of $80--- less a small pay for results marketing fee of 8%. Businesses can receive their money upfront, without any deduction for merchant service type fee, instead of the typical 3%fee businesses are charged by (VISA/MC/AMEX). So the net effect is that the 8% pay for results fee is like a 5% fee. So for sellers the Peekaboo Auction system is an incredible no money out of pocket pay only for results promotional service for its business! Businesses and residents should also note that local nonprofit organizations listed in the local Savings Directory will be promoted with the businesses pay only for results fee!
  • Bidders only get 10 seconds to peek and see what the new lower current asking price, when bidders use just 2 credits out of their bidding accounts.
  • The bidding can be done manually or it can be automated. A bidder can set for each of their favorite auctions the time interval to peek at the current asking price---and the bidder also sets an automatic claiming price! Yes totally automate bidding and buying! So for example a bidder can automate its account to "peek" every 8 hours and auto claim the $100 redemption if the current price goes down to $30 and stop the auction. If the winner does not pay within 24 hours the auction resumes.
  • Bidders can even be alerted when their favorite businesses are starting a new auction!
  • Bidders are always guaranteed substantial savings as the low cost bidding credits are substantially lower than the deeply discounted redemption value of the no expiration date certificates. Bidders get 2 free credits when they register. Besides the 2 free bidding credits bidders get when initially registering, bidders also receive 10 free credits for each person referred to Peekaboo Auctions that buys even the smallest bidding package that is under $10. Additional bidding credits can be purchased for as low as 25 cents a credit. You should also note that money paid to Peekaboo is helping to support your local organizations free use of your local SavingsSites Communications System and Directory.
  • Bidders bypass on the current price for two reasons. 1) Bidders may see that the current price to get the $100 is down to, for example $65 and believe it will continue to drop and the bidder believes that he/she will be able to get the $100 value for even less than $65. 2) Most sellers offer consolation certificates to all those that bid but bypassed on buying. To get the consolation certificate a bidder will have needed to bypass an amount of times that is stated in the auction. So even if a bidder did not win the auction, a bidder should be able to recover much more than the cost of the credits use. In the example let's say the bidder bypassed 10 times and it cost the bidder under $5. In the example the losing bidder would still be able to buy the $100 redemption value for $80 and thus saves $20 and this more than offsets the $5 bidding cost.
  • The auction will state the dollar amount that the minimum purchase needs to be if the certificate is being used to make a purchase that is less than the redemption value. Once the minimum purchase is reached the auction will state whether the business will: 1) provide cash refund for the difference or 2) issue a credit for future purchases. Some auctions will indicate that the full redemption value should be used because the business will not issue a cash refund or a credit for future purchases if a purchase is made that is less than redemption value
  • If you are the auction winner you have the option of using your real name or a "website name" posted as a winner. Your real name will be on the certificate.
    Auction winners and consolation certificate losers will be emailed the certificate which will include an auction ID and both the business and winner information. Presenters of the certificate may be requested to show identification. The winner may be able to designate a different person as the winner if for example the winner wants to give the redemption value certificate away as a gift. Business owners: If applicable there is also a place on the certificate for a cashier to sign as having accepted the certificate. Businesses can track in the Peekaboo admin all outstanding and redeemed certificates.
  • Bidders: There is no expiration date for the bidding credits in your account. Bidding credits are not transferrable or refundable.

Peekaboo is a win-win for Bidders and Sellers!

Automated Savings


Auto Bid & Buy!

Peekaboo alerts you when your choices of favorite sellers start a new auction!

PeekABoo Winners

Fashion Plaza
$250.00 shopping voucher

Winner: anishuser
Sold for: $230.00
Sold on: 03/21/2018
Savings: 8.00%


Redemption Value

The redemption value is simply what the cash certificate is worth when used to purchase goods or services from the seller.


Starting Price

BIDDERS: The starting price is the price when the auction opens that will enable you to buy the redemption value. Typically, the starting price is below the redemption value, so bidders are already guaranteed savings before the price goes even lower! A bidder can stop the auction at any time to declare being the winner. The starting price will go down every time any bidder bypasses on buying. Bidders bypass on buying for 2 reasons: (A) because they believe the price to get the redemption value will go down much lower. (B) Many sellers offer consolation certificates to bidders that have bypassed without buying a minimum number of times. So bidders bypass the required minimum in order to at least get a consolation cash certificate if someone else decides to win the auction. NOTE: The auction may open substantially less than the starting price because bidders have the option of pre-qualifying for their favorite seller’s consolation certificates. In some auctions the consolation certificate funds will drive the current asking price below $0. When this happens the winner not only gets the redemption value at $0 cost but will receive free bidding credits. Bidding credits can be purchased or received at no cost. See the website for several ways to freely receive bidding credits!

SELLERS: The starting price the price you are accepting from the auction to provide the redemption value less any pay for results auction fee. Business/Sellers it is important that you understand that no matter how low the winning bidders price goes the auction system will make up the difference so businesses/sellers receive upfront its initial asking price less the auction fee that is shared with non-profits.


Falling Price

Anytime a bidder bypasses instead of buying the reverse auction system will continue reducing the current asking price towards $0 until a bidder decides to stop the auction and declare themselves the winner. The winner pays as low as $0 to obtain the redemption value and sellers still receive its initial starting price less the nominal auction fee because we apply bidder’s pennies from each bypass towards the sellers starting price. The auctions pay for results fee that that the business is paying is shared with local nonprofit organizations as these non-profits have encouraged its members to buy their favorite businesses cash certificates. When bidders buy cash certificates the bidder decides if there is one particular non-profit organization that should receive the share or decides to share amongst all local non-profits.


Auction Time

Any bidder can stop the auction at any time either manually or by automating bidding time intervals and buying price to declare themselves the winner; however, if in the very rare case that an auction runs for 1 fiscal year the auction will stop with no winner. If consolation certificates were offered the bidders that qualified to receive the consolation certificates will have the option of buying at the end of the auctions fiscal year. The primary value of the Time Countdown is for smart bidders to evaluate for certain of their favorite businesses how quickly its auctions ended and how far below the initial starting price the auction fell.


See Current Lower Asking Price

To get a 10 seconds peek to see what the current asking price is to obtain the redemption value bidders need to use 2 bidding credits. Bidders have 10 seconds to decide on stopping the auction and declaring themselves the winner or bypass because the bidder believes the price will go much lower. Bidders have the option of manually checking the price or automating the time interval to check the price and also setting an automated buy price to stop the auction. Whether a bidder manually peeks to see the current price or automates peeking the cost is the same 2 bidding credits.


Consolation Certificates

Businesses provide consolation certificates to those bidders that used their bidding credits and bypassed and did not win. If the seller is offering a consolation cash certificate the seller will state, the minimum number of bypasses without buying required to qualify for a consolation certificate. Typically, the savings offered using a business consolation certificate is many times greater than the cost of the bidding credits needed to qualify to buy a consolation certificate. A bidder can pre-qualify for consolation cash certificates from their favorite sellers prior to the auction opening or a bidder can also qualify during the auction. Some businesses may limit the total number of consolation certificates that will be sold. If a bidder tries to qualify and the capacity has already been reached, the reverse auction system will let the bidder know and will not charge the bidder for the required bypasses.


Add to My Auctions

In your admin control panel, you will be able to see all the auctions that you are participating in.


Auto Bid & Buy

Bidders can set the time interval in seconds to automatically have their “robot” automatically take a peek at the current asking price. So for example a bidder can have the system check every 3,000 seconds which is 50 minutes. Bidders also set a price to automatically stop the auction and declare themselves the winner! Yes, each auction can have its own time interval and automatic stop the reverse auction price. There is no additional cost to automate peeking to see the current price and buying versus manually peeking and buying.


New Auction Alerts!

If you have a favorite business and you want to be notified that business is starting a new auction the reverse auction will email you. You may want to automate bidding and buying for the auction.

If the business is offering a consolation certificate you may want to pre-qualify before the auction opens--especially if the business has a cap on the number of consolation cash certificates sold. Also because many people are pre-qualifying the opening of an auction may have a current asking price that is substantially below the initial starting price and therefore you may want to take a peek and see what the opening current asking price is and you may decide to be the winner at the opening!


Automate Consolation

This will allow you to simply hit a button and be qualified to at least be able to purchase a consolation certificate if you don’t win. If the required minimum number of bypasses to qualify for a consolation certificate is for example 3 the auction system will automatically debit your bidding credits for the number of bypasses remaining for you to qualify.