UPDATE 11/17/10: Users are now reporting charges they didn’t know about of $179, or so from Wavee.com. Has this happened to you? Let us know.
The new Wavee beta just launched today with new features!
What do you think of Wavee’s new features?
Wavee FUSE: Wavee is now providing more item variety than any penny auction currently live today. They’re doing this with what they call Wavee FUSE. Wavee FUSE allows bidders to bid on not just one predetermined item but on a variety of items within a close price range.
So let’s say you’re dead set on winning a Garmin nuvi GPS (Wavee price: $226.30), while you’re bidding for the nuvi another bidder could be bidding against you but not for the GPS but for an an 160 GB Apple TV recorder ($224.24) or even a Logitech Gaming Steering Wheel ($243.60). All auctions will be FUSE auctions except for credit bundle auctions. Wavee has even added a search bar for users to search for whatever items they want. Wavee’s product list continues to expand each day, they’re currently offering 1,000 products during beta and are adding more on a daily basis.
Wavee to Offer the “Lowest Prices on the NET!!” & Free Shipping
Wavee tells us to think of them as ” a hybrid between Amazon and eBay: the lowest prices on the web AND the competitive thrill of an online auction. Our patented technology allows our site to combine the best of both worlds.”
Wavee is now providing free shipping on their items.
No more MSRP
Wavee’s buy-it-now price is going to be lower / comparable to other online retailers.
Wavee to Step Up Competitiveness with a Timed Bid-to-Buy Window
Wavee has slightly modifying their Bid-to-buy model to make their auctions more competitive by “taking some power away from the resellers who are willing to bid up to the full price of the item and are driving other customers away in the process. The option will still be available on most auctions, but only for the first portion of the auction (as indicated by a green light)…once the green light goes off, your bids placed while the green light was on are still eligible for bid-to-buy, but any addition bids are only available to try and win the item outright, keeping the auction fun and balancing the power amongst other bidders.”
This may or may not be desirable since after a certain point any bids placed will not be applied to purchasing the item but previously placed bids will.
In closing, Wavee tells us that they will not only be a penny auction site, they will be a truly competitive entertainment shopping site.
We can’t wait to see more of what’s in store in the weeks to come.
Discuss Wavee in our Penny Auction Forum!
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