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Zoogboo
#2
- Posted 26 April 2010 - 03:28 PM
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#4
- Posted 26 April 2010 - 04:23 PM
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#5
- Posted 26 April 2010 - 04:26 PM
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#6
- Posted 26 April 2010 - 04:29 PM
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#7
I think someone really needs to look into this. So basically they want bidders to "bid" until they cover their costs plus make a little extra, then the person that magically hits that number wins. So if lets look at the 9,500$ Private Island(keep in mind it says to purchase an island) At your price of .60 cents a bid, you would need 15,833 bidders just to cover costs. Not to mention if your company plans to make a profit. So basically at your plan, the people placing bids 1-15,832 are doing nothing but covering your behind. Bidder # 15,833 will win. Even if you start the clock once the reserve is met, bidders still have wasted 15,833 bids just to get the auction to where its winnable. You say the auction has a "secret" reserve between .01 cent and 299$ well 299$ would be 29,900 bids. Which would bring in about 18,000$. You can also look at US Virgin Islands Investment and also search for all of US, and you will not find an island under 30,000$ Especially in the Virgin Islands. Maybe some further replies from zoogboo could clear things up?
This certainly does seem like an unlikely model to catch on. Who would bother placing those first 100s (if not thousands) of bids?
However, the fine print on this island auction specifies that it is a one-week rental of the island, including some arifare. That at least makes the numbers make sense...
- Posted 26 April 2010 - 04:38 PM
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#8
Why buy 100 bids on another site to win a $50.00 gift card when you could just as easy win a new Camaro. Our site also makes it impossible for schill or fake bids. This is a huge prolem in the industry. Since the auction ends when the reserve is hit, nobody can run up the price on fake bids, and of course it only hurts us if we were to bid up the price without collecting the pirice of the bid. You know the auction is run in a fair and transparent way. We enjoy the feedback and welcome more questions
- Posted 26 April 2010 - 05:03 PM
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#11
The island is a one week rental with 14 friends. We have planned on taking a few losses here and there. As all auctions do. When a penny auction sells an xbox for $0.17. Did they make a profit? Butr when the next item a ipod selld for $28.18 they do. Same concept here. Some auctions have a very very low reserve. While others have a set profit built in. Hence you win some and lose some, but over all the company turns a profit, and the user gets a high value item for a very low price. If the user places a bid and the clock starts, they win and pay the current price of the auction. We understand it will take much longer for an auction to end. But NO other auctions have this type of items.
Why buy 100 bids on another site to win a $50.00 gift card when you could just as easy win a new Camaro. Our site also makes it impossible for schill or fake bids. This is a huge prolem in the industry. Since the auction ends when the reserve is hit, nobody can run up the price on fake bids, and of course it only hurts us if we were to bid up the price without collecting the pirice of the bid. You know the auction is run in a fair and transparent way. We enjoy the feedback and welcome more questions
Sorry zoogboo - I wasn't trying to ruffle any feathers. Your auction style is interesting to say the least. Nice to know the timer is just for show - it'd stink to get the timer to start, then have to deal with people jumping in.
Do you allow the same user to place consecutive bids? With this structure, it doesn't seem like there is any reason not to allow one user to pump 100 bids into an item all at once, if they are so inclined...
- Posted 26 April 2010 - 07:16 PM
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#12
- Posted 26 April 2010 - 07:27 PM
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#13
- Posted 26 April 2010 - 07:27 PM
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#15
I signed up, I want to use more then one bid on an item... Why cant you do that? Dont understand why I would buy 100 bids but only be able to use one bid on an item??
I agree... I would rather use 100 bids on one item I really wanted than just being able to use 1 and sit around for days waiting on others to bid on it and it get sold to someone else.
- Posted 26 April 2010 - 07:34 PM
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#16
I agree... I would rather use 100 bids on one item I really wanted than just being able to use 1 and sit around for days waiting on others to bid on it and it get sold to someone else.
Agreed. I think the auction format is interesting, but I wont buy any packages until I am able to spend as many bids on an item as I want. No point in buying 100 bids, only being able to 1 bid per item. Another note, their are like 10 items up for auction that means I can spend 10 bids total... what do I do with the other 90?
- Posted 26 April 2010 - 07:37 PM
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#17
- Posted 26 April 2010 - 07:40 PM
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#18
- Posted 26 April 2010 - 07:42 PM
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#19
Hi Donzo & Kate, We have serveral auctions that have really low reserves. We are going to make this option available later on certian itmes. However we want to give all the members a chance to win. By buying massive amounts of bids "not that we don't want this : ) " But a few bidders will take over and knock the smaller members right out. We want a fair and equal chance for everyone. But they are coming soon!
Thats unfortunate... I worry that you will have a huge problem with people creating fake emails to get those free bids. As their is no point to buy a bid package from you, thus spending money on your website since I can only spend 1 bid per item and their are only like 10 items up for auction.
See the problem?
- Posted 26 April 2010 - 07:44 PM
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#20
- Posted 26 April 2010 - 07:53 PM
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