Open since July, this site operates differently from what you may be used to when it comes to penny auctions.
Much like timerless auctions we’ve seen in the past, Kocopelle offers a chance for users to get a deal on items when a user hits on the winning price.
This winning price, according to Kocopelle’s owner, is randomly generated and falls within a specified range.
“We are truly random and all of our reserve prices are calculated by a Microsoft SQL function and then encrypted and recorded in our database. We will be publishing graphs to show the true randomness of our Deals once we have a statistically viable sample size but we are showing all closed Deals for now so we have total transparency.
With every 500 Token Pack or every 500 cumulative Tokens purchased, a member receives 1 Scorpion Token and 2 Rat Tokens. The Scorpion Token allows you to “Steal it!” (steal the BIN) if you are in the Top 3. If your BIN has been stolen and you have a Rat Token you can Block It! (block the steal). This will come into play more and more as our traffic builds.”
Instead of bids Kocopelle offers tokens of tokens ranging in sizes from 25 all the way up to 1000 tokens. Each token costs $0.50.
After placing at least $25 dollars – 5o tokens using the “Blitz It!” button on any of Kocopelle’s deals, users are able to lock out the competition and be the only one able to place a token for the next 3 minutes.
So, yes, it will look like you are bidding against yourself, but since the only way to win is to hit on the correct bid amount (kind of like a lowest unique bid price auction) the only way to win would be to keep placing bids until you meet the final price.
All items are “You Choose It!” items, meaning a user can pick the item they choose in the same value. Take this auction for a $25 Williams-Sonoma gift card for instance, say you don’t really shop at this fancy gourmet cooking store, but would love to go out to dinner and a movie instead, if you win it you can choose from 55 other gift cards including Applebee’s, AMC theaters and TGI Friday’s.
“We also have focused on the concept of You Choose It! With few exceptions, all of our Deals/Auctions will be You Choose It!. Bidders should not receive 2nd hand market gift cards. It does not matter to us in the slightest what gift card fulfills a Deal or Auction because we purchase all gift cards directly from the vendor (Walmart from Walmart, etc.) so that our members get brand sparkling new gift cards or other items. We also let them swap for Tokens at check out or exercise a Sell Back option where we repurchase the item for PayPal cash. We also have focused on the concept of You Choose It! With few exceptions, all of our Deals/Auctions will be You Choose It!. Bidders should not receive 2nd hand market gift cards. It does not matter to us in the slightest what gift card fulfills a Deal or Auction because we purchase all gift cards directly from the vendor (Walmart from Walmart, etc.) so that our members get brand sparkling new gift cards or other items. We also let them swap for Tokens at check out or exercise a Sell Back option where we repurchase the item for PayPal cash.”
Current items include gift cards ranging in value from $10-1000, iPads, professional gourmet cookware and more. Again, all items can be substituted for another item all you have to do is click on the item to go to the page with more information on the available products or gift cards.
Kocopelle is a confirmed registered corporation doing business in the state of Nevada. They plan to offer standard penny auctions in the future.
Have you bid on Kocopelle.com?
If you have experience bidding please post your reviews below in our comments section and discuss Kocopelle with us in our penny auction forum!
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