YooBeeDoo.co.uk has just launched today, we had the privilege of testing it out just a few days ago and let us tell you, it’s a brand new penny auction format that we’ve never seen before. We spoke with David of YooBeeDoo during testing last week on Skype, and he told us that one of the things that bothered him with the penny auction model is that there is no real restraint on how much money sites can make, and bidders can spend, on a single item, he feels this is unfair to bidders. He spent the last few months working on his new penny auction model with keeping in mind how he could make a transparent, fair experience for bidders. As a result, we now have now seen the world’s first (to our knowledge) Bid-Block auction. It’s so unique that YooBeeDoo has patents pending.
Take a look at how YooBeeDoo’s auctions work:
YooBeeDoo has a unique bid-erasing system
Notice how YooBeeDoo’s auctions don’t have the “bid” button that we’re used to seeing in penny auctions, instead they have bid buttons with a certain dollar amount, these are called Bid-Blocks.
The object to winning is to have your name on the highest Bid-Block when the auction counter ends, or when no more bids can be placed. Yes, YooBeeDoo’s auctions, unlike traditional penny auctions, can only take in a limited amount of bids.
Because YooBeeDoo auctions have a limited number of available bids, the site only ever can make a specified profit (if all bids are placed) per auction.
As you can see in the auction for the Nintendo Dsi, a limited number of bids can be placed before a user wins. At first it may look a little daunting, but it’s pretty simple. Each time a user places a bid (clicks on a Bid-Block) a Bid-Block on top (regardless of whether or not someone already holds that spot) gets erased (canceled out). For instance, let’s say a user places a bid (clicks the Bid-Block button) on £5.00, this will be the very first spot that gets erased when a bid is placed anywhere. Then, if a bidder places another bid the next spot £4.99 would be canceled out then it goes down the line until the highest bid is left and the bidder with that bid wins (meaning no more spots) or the timer has gone to 0 and holds the highest Bid-Block.
Users can use this to their advantage by placing lower bids than a competitor because this erases their higher bids. A user can still win an auction even if they cannot place the highest bid, all they have to do is erase the bids higher than theirs by placing more bids.
The Bid-Blocks change color when bids are placed and when spots are no longer available. Your Bid-Block would be purple, competitor’s would be gray.
How much do bids cost?
Bids are purchased in packages, but the bid cost varies per auction item. For instance, on £0.10 auctions all bids placed will cost £0.10, these are lower priced items such as DVDs, on the DSi bids cost £1.00 each, and on the 20 credits auction £0.50, make sure you take a look at the top right of each auction as it will show you how much the bids cost per item.
YooBeeDoo has a few other bidding features too that we think are pretty neat, for instance, there are buttons on the top right corner such as the button with the R, this stands for rapid mode, YooBeeDoo has made it so when users place bids they have to double click (this ensures against them clicking bids accidentally), by clicking on R users can turn this off so they can place bids with a single click. There’s also a magnifying glass, when this is on hovering over a Bid-Block will show who placed a bid there. They also show how much money you have spent and what your highest bid is in this section.
Only Open to the United Kingdom
For the time being YooBeeDoo is only open to UK bidders.
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