Tigerwoods Turbocharged February 8, 2011 Share February 8, 2011 Happy Chinese New Year to all MCFers. I was introduced to this webiste and found that you can bid for gadgets. The catch is you have to buy Bids in advance to bid. Each bid is S$0.85 and each time you bid the price goes up by S$0.02. There is this S$5k Tag Heuer watch already bidding now around S$2800 = 2800/0.02 = 140k bids X S$0.85 = $119K. HUAT AH !!! Anyone wanna start another Website like this ?? PM me. ↡ Advertisement Link to post Share on other sites More sharing options...
Chrispie 5th Gear February 8, 2011 Share February 8, 2011 very clever.... Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged February 8, 2011 Author Share February 8, 2011 We can start an Auction Website with the following changes : Each bid is S$0.50 and each time you bid the price goes up by S$0.02. Monday is the Blues day - Each bid is S$0.50 and each time you bid the price goes up by S$0.04 and winner get back all his bids. Wednesday is Ladies day - Each bid is S$0.50 and each time you bid the price goes up by S$0.04 on women's mechandise. Friday is TGIF - Each bid is S$0.50 and each time you bid the price goes up by S$0.04 and winner gets to pay Half the sucessful bid price only. Sure HUAT ONE Sure ONE !!! Link to post Share on other sites More sharing options...
Dwoon 1st Gear February 8, 2011 Share February 8, 2011 (edited) ???? don't understand how to get $119K leh....... You mean if one bids and doesn't win..... their bid is gone???? Else the final price at closing would be the value of winning bid...... Unless all bids along the way kena makan ah? Else though you might have the reserved $$$ because of pre-purchase of bids...... it still doesn't belong to you...... unless one runs away with it and disappears...... Edited February 8, 2011 by Dwoon Link to post Share on other sites More sharing options...
At3li3r Neutral Newbie February 8, 2011 Share February 8, 2011 We can start an Auction Website with the following changes : Each bid is S$0.50 and each time you bid the price goes up by S$0.02. Monday is the Blues day - Each bid is S$0.50 and each time you bid the price goes up by S$0.04 and winner get back all his bids. Wednesday is Ladies day - Each bid is S$0.50 and each time you bid the price goes up by S$0.04 on women's mechandise. Friday is TGIF - Each bid is S$0.50 and each time you bid the price goes up by S$0.04 and winner gets to pay Half the sucessful bid price only. Sure HUAT ONE Sure ONE !!! Quite a good idea... But i tink out of the 114K bids, maybe more than half is bidded by the coy themselves. Link to post Share on other sites More sharing options...
Yattokame 4th Gear February 8, 2011 Share February 8, 2011 ???? don't understand how to get $119K leh....... You mean if one bids and doesn't win..... their bid is gone???? Else the final price at closing would be the value of winning bid...... Unless all bids along the way kena makan ah? U wanna place a bid, you have to spend $0.85 to BUY a "token" first. Each "token" will raise the bid price by $0.02 so now the watch is 2.8k, it has been bidded by 2800/0.02 = 140,000 "tokens" who sells the tokens? the website owner. so he's the biggest winner here. Link to post Share on other sites More sharing options...
Yattokame 4th Gear February 8, 2011 Share February 8, 2011 Quite a good idea... But i tink out of the 114K bids, maybe more than half is bidded by the coy themselves. from my point of view as a consumer, why would I want to pay to bid? why can't I bid for free like I do on ebay? doesn't make sense to me. Link to post Share on other sites More sharing options...
At3li3r Neutral Newbie February 8, 2011 Share February 8, 2011 U wanna place a bid, you have to spend $0.85 to BUY a "token" first. Each "token" will raise the bid price by $0.02 so now the watch is 2.8k, it has been bidded by 2800/0.02 = 140,000 "tokens" who sells the tokens? the website owner. so he's the biggest winner here. True...So might end up saving only a little..coz main attribution to buying the tokens... Link to post Share on other sites More sharing options...
At3li3r Neutral Newbie February 8, 2011 Share February 8, 2011 from my point of view as a consumer, why would I want to pay to bid? why can't I bid for free like I do on ebay? doesn't make sense to me. I tink his strategy is to attract ppl by offering to allow ppl to bid for items at very cheap prices. But for consumers to be able to take part in this so called cheap bidding then consumers have to pay to take part.. Link to post Share on other sites More sharing options...
Yattokame 4th Gear February 8, 2011 Share February 8, 2011 Quite a good idea... But i tink out of the 114K bids, maybe more than half is bidded by the coy themselves. I don't think so, for this particular case. they'd want more people to submit bids. By raising the price on their own does not help; it will only reduce the number of bids before an ideal price is reached. Link to post Share on other sites More sharing options...
Vextan 1st Gear February 8, 2011 Share February 8, 2011 who in the right frame of mind will buy tokens at $0.85 each to bid, only to be outbidded and then left with the tokens ? and $0.85 worth of token can only up the bid by 2cts, then what is the point of bidding at a price higher than the selling price of the same product outside, like in the case of the tag heur watch ? i think some of the details is not clear\correct la. Link to post Share on other sites More sharing options...
Yattokame 4th Gear February 8, 2011 Share February 8, 2011 I tink his strategy is to attract ppl by offering to allow ppl to bid for items at very cheap prices. But for consumers to be able to take part in this so called cheap bidding then consumers have to pay to take part.. I dont think it's cheap at all -- $0.85 for an increment of $0.02 actual value??!?! you said it, consumers have to pay just to take part in this auction. I never had to pay a cent when I go for auctions; I can also bid at very cheap prices. Link to post Share on other sites More sharing options...
Yattokame 4th Gear February 8, 2011 Share February 8, 2011 who in the right frame of mind will buy tokens at $0.85 each to bid, only to be outbidded and then left with the tokens ? and $0.85 worth of token can only up the bid by 2cts, then what is the point of bidding at a price higher than the selling price of the same product outside, like in the case of the tag heur watch ? i think some of the details is not clear\correct la. yeah, precisely. maybe the successful bidder will claim back all his/her "token" money? Link to post Share on other sites More sharing options...
Freestylers09 5th Gear February 8, 2011 Share February 8, 2011 they made by bids nothing else.. liek group sale, earn by volumes all very good $ generators Link to post Share on other sites More sharing options...
At3li3r Neutral Newbie February 8, 2011 Share February 8, 2011 I don't think so, for this particular case. they'd want more people to submit bids. By raising the price on their own does not help; it will only reduce the number of bids before an ideal price is reached. True if the token collected for the particular is more than the (actual price - actual bidding price) then the coy need not bid themselves. Esle if the taoken collection is less than (actual price - actual bidding price) than the coy would have lose money. But that's more point of view only.. However bidding this way is pure profit taking for the coy nia.. Link to post Share on other sites More sharing options...
At3li3r Neutral Newbie February 8, 2011 Share February 8, 2011 I dont think it's cheap at all -- $0.85 for an increment of $0.02 actual value??!?! you said it, consumers have to pay just to take part in this auction. I never had to pay a cent when I go for auctions; I can also bid at very cheap prices. Agree!! But i tink again juz now, maybe is bcoz if you considered in the token + the bidded price, maybe might be abit cheaper than retail price.. However in this kind of system, there must be ppl who lose(losing their token money), in order for another one to gain... Link to post Share on other sites More sharing options...
Jman888 Moderator February 8, 2011 Share February 8, 2011 like those tv ads that ask you to call 78**** and bid for PSP or iphone ..... each call duno how much?? really a con job wonder why MDA allow mediacrop to accept these ads Link to post Share on other sites More sharing options...
Vextan 1st Gear February 8, 2011 Share February 8, 2011 (edited) like those tv ads that ask you to call 78**** and bid for PSP or iphone ..... each call duno how much?? really a con job wonder why MDA allow mediacrop to accept these ads yes i agree with you . these bidding thru sms, are really a very smart con job. many people bid and in the end only one person gets to buy it, and all others loses out in the money they spent on sending out the smses. in the end is the vendor win hands down. worse is, some of these schemes, they will keep charging you until you terminate the so call subscription which you unknowingly subscribe to. it is really preying on uninformed consumers and there will forever be first-time victims. Edited February 8, 2011 by Vextan ↡ Advertisement Link to post Share on other sites More sharing options...
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