Right now there’s a lot going on over at BeeZid, the popular penny auction site. If you’re not already familiar with penny auctions, they work like this: you make incremental bids on an item by paying very small fees. Each bid increases the item’s price by a penny and adds a second to the auction time. The auction ends once the last bid is placed and the clock runs out. This means that penny auctions can go on indefinitely. PennyAuctionSites.com explains it best when they call it a competitive battle for bargains.

Oftentimes however it is possible to win items at very low prices. This is a great way to save money on consumer electronics and more.

Today there are a couple of promotions at BeeZid’s Facebook page. The video contest awards 50 bids to participants just for entering, so you win something no matter what.

To enter you just have to create a short video of your previous BeeZid win (or your future BeeZid win, if you’re new to bidding on the site!), and upload it to Facebook with the tag “Beezid.” This will enter you into a drawing to win 2000 free bids on the website. Y

ou’ll also win a video camcorder if your video is picked. Videos need to be short and creative (just half a minute in length—or less). You can also enter as many times as you want for items you’ve won in the past. You only get the 50 free bids once, but you are entered for additional chances to win 2000 free bids and the video camcorder.

If you don’t have a video camera, you can still enter the BeeZid Facebook photo contest. This contest awards you 25 bids for participating. All you need to do is take a photo of yourself with a previous BeeZid win and then post it on Facebook with the same tag, “Beezid.” You get entered into a drawing to win 500 bids and a free digital SLR camera. You can enter this contest as many times as you like as well, but you can only get the 25 free bids for your first entry. Have someone else take a photo so that you’re in the photo with your win.

Don’t have any wins from BeeZid yet? You can get started with a new account. Whenever you win your first item you can then enter into the contest and get some free bids. You can also participate in both contests if you want to get 75 free bids in total.

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