Reveal price auction ViewPrice has just launched out of Beta, offers gift cards.
“ViewPrice has partnered with different merchants because of the volume of gift cards being sold through this platform, the merchants are subsidizing any loss on different auctions knowing that the sale of each gift card brings additional revenue to their stores that make up any of their loss through this platform. Who wins? – the customers of viewprice, with every customer who bids and views the price the group benefits with huge discounted prices from over 200 participating merchants, then with each sale the gift cards are reset and begin falling again. This is “Entertainment Shopping” & “Collective Buying” at its best! Prices are driven down very fast because every customer is driving down every price until someone buys. It’s the race and excitement of grabbing the savings before anyone else does. We have seen the amount grow exponentially. In addition, the amount is very rarely reset to zero because the rate of bids is outpaced by the amount of sales. Each bid or view costs only .50¢ and is sold in packs of 25. The popularity of Gift Cards were huge on this social buying platform so it was natural for us to begin with Gift Cards, we are scheduled to move into different products in early to mid 2010.”
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