Need Your Input
We are trying to design the contest to;
1. Reward strategy
2. Level the field so the person with the best technology doesn't have an advantage
3. Level the field so the person with the fattest wallet doesn't have an advantage
4. Be trustworthy
These areas seem to be the areas that rightfully gather the most criticism..."no strategy involved it's just luck...the guy with the fastest script\response wins...the guy with the most bids wins...they use shills..."
Some of the features we are considering;
1. # of bidders is capped and published before the auction starts. Bid range is from .01 - $100.00
2. 48 hours before the auction ends bidders receive notification of the end date & time. There is no 'count-down' clock that is bumped with each bid.
3. No new bidders are allowed during the last 24 hours
4. No additional bids can be purchased in the last 24 hours
5. Bidders always know if their bid is the current winning bid, if it is too high\low, or if it is not unique
6. There will be a variety of non-random contests within the auction that will allow bidders to win their entry fee back.
7. There is a maximum number of bids any one player can place in an auction
8. All players who didn't win either the grand prize or one of the lesser prizes get all of their bids back for use in future auctions.
There are many other features we are considering but at this point we're not willing to make them public as we feel they are central to our success.
So, what do you think? What are some other features you'd like us to include?
Best viewed in 720hd and on full screen. We're working on narration and should have it done by 11/11.
Our slogan is "build it, bid it, win it"
You build it - you build your own grand prize worth $65,000, $500,000 or $1,000,00 using out 'Build your Bucket List' application. You pick from 6 broad categories of prizes; Top Sporting events, Vacation Travel, Luxury Items, Ultimate Adventures, Real Estate and Philanthropy. Or you can just make up whatever you want...we're pretty easy about how you spend your winnings
You bid it - the winner is the player who has the lowest, unique bid...as in the bid that is the closest to $00.00 that nobody else picked. Your competing against other players who are also trying to win their own bucket list.
You win it - you have 18 months to 'live' your bucket list. Prizes are transferrable and there is a cash-out option.
While the site won't be available until 11/11, you can follow us on FB at MyBucketListAuctions | Facebook
and twitter: @My_BucketList
If you have any questions or recommendations, please contact me directly at email@example.com
Edited by Vandelay, 30 October 2010 - 06:02 AM.
seems very interesting please post your launch date / beta testing when you are ready, i love new sites especially interesting ones like the one your proposing.
Why thank you! From the screen shots you can imagine the programming time (and cost) involved in the site. Between the 'good idea fairy' frequently stopping by and the usual time-lags associated with writing a web-site from scratch, we've experienced a number of delays....as shown by my earlier (embarrassing) postings in this thread.
We began the alpha testing last week and some very limited beta testing this week. I anticipate we'll finish all the internal work by next Friday and go to beta asap. We will definitely take advantage of the experience of PAW members and ask for beta players.
Here's an overview;
Welcome to MyBucketListAuctions.com. Our motto, “build it, bid it, win it” pretty much summarizes how to use the site. You build your own bucket list, place bids in an effort to have the lowest, unique bid, and....if you’re good enough, you win it.
You’re competing against a fixed number of other players to win your very own, personalized Bucket List that you build. There are 3 different auction levels; $50,000, $200,000 and $1,000,000 for you to choose from. Whoever has the lowest, unique (nobody else bid that amount) bid when the auction ends, wins, and can purchase their Bucket List for their winning bid amount.
1. Build It
On the home page there’s an application called “Build Your Bucket List”. On the left side there’s drop-down menu that displays the 6 broad categories you can pick from (Adventure Travel, Vacation Travel, Top Sports Events, Luxury Items, Real Estate, and Philanthropy). Select one of the categories and another window will open. You’ll notice that the category you selected is displayed in the left pull-down menu and the specific items from that category are now listed in the right pull-down. All you have to do is start picking items from the right pull-down menu and they will automatically be added to your personalized bucket list. There’s a “more details” button for each item that provides well,...more detail about it. You’ll also notice that a dollar value has been assigned to each prize. As a prize is added to your list, a running total is displayed so you’ll know how much your list is worth. If you add something to your list and want to remove it, simply click on the red ‘x’ next to the item.
After you’re done building your bucket list, click on the grey box to register your list in the appropriate auction. A new window will open which is the shopping area. Add the appropriate auction level to your cart. For instance, if your bucket list is worth $190,000 you’ll want to join a Gold level auction, since the Gold auction is valued at $200,000. You can also buy additional bids for your auction on this page.
So far you’ve built your list and entered the auction, now it’s time to ‘bid it”.
2. Bid it
Your goal is to have the lowest, unique bid. Lowest means closest to $00.00 and unique means you’re the only one who bid that amount. For a more detailed explanation, click here. (FAQs link)
The bid range is $00.01 - $100.00 in .01 increments. The maximum number of bids any player can use in an auction is 12. For a more detailed discussion on strategy, click here (link to strategy).
Auctions are closed once we have enough players to cover our costs and keep a little for ourselves. 72 hours before the auction closes, all players enrolled in the auction will receive an e-mail with the date and time of closing. 48 hours before the auction closes another e-mail will be sent and at that point no new players are allowed to enter. Also, when the 48 hour e-mail is sent, the Player Board (link) will be displayed. 24 hours before the auction closes a final e-mail reminder will go out and no additional bids can be purchased for that auction. The Bid Board (link) will be then be available for review. Please make sure you understand the value of these features as they should play a significant role in your bidding strategy. (link to strategy)
3. Win It
You’ve built your Bucket List, you’ve enrolled, purchased additional bids and started bidding. So what’s the best strategy? There is no guaranteed way to win every time, but here are some tips. PLEASE make sure you read the Strategy (link) section as well!
Bid early so you can win the “Early Bidder” competition. (not available in all auctions) The first 100 bidders receive a full refund of their admission fee at the end of the auction.
Buy additional bids, they’re cheap and most folks appreciate having them during the last 24 hours.
After you place 1 bid, you might want to hold off on placing any more until the last 24 hours. By placing a bid you will be eligible for the “Early Bidder” competition and receive bid status updates as the auction progresses. We anticipate a flurry of activity and frequent changes in who has the ‘lowest unique bid’ in the last 24 hours. Remember, you can only place 12 bids in an auction no matter how many you have in your account, so use them wisely.
Track your bid status. Each bid will have one of the following 3 statuses;
“Your bid is currently the winning bid”. This means you CURRENTLY have the lowest, unique bid, but that can change.
“Your bid is unique, but currently not the lowest unique bid”. This means that nobody else has bid this amount, but at least one other player has a bid that is lower and is also unique. Understand, if all the unique bids that are lower than this one get ‘covered’ by another bidder, this bid would become the current winning bid - assuming nobody ‘covered’ it besides you.
“Your bid is not unique, somebody else also bid that amount”. Bad news, because this means, unless there is a tie, this bid is dead, it can’t win since it’s not unique.
Studies show players tend to bid overbid odd numbers and prime numbers.
￼For more information, please review the FAQs (link)
The site is a low unique bid competition, so it may not appeal to the faster close times of PAs. Some of the difference that may attract you;
1. The prizes are worth substantially more ($1,000- $250,000) and you get to design your own prize package.
2. The number of players (2,500) and bids (15 each) are capped so PB's reputation and deep pockets don't impact the outcome.
3. Except for the entry level auctions, there are multiple winners in each auction...between 10-20 depending on the auction
4. The auction actually begins as soon as you enter...you can start bidding, and seeing your results, right away
5. Strategy is the key factor in determining the winner.
If you get a chance come on over and check it out. We still have a lot of work to do around the FAQs...mostly cleaning up changed numbers and updating screen shots to match the new ones, but the overall concepts are pretty close to the finished product. We just migrated off the development server to the commercial one at Rackspace. Mock auctions (internal only at this point) are scheduled to begin tomorrow morning. Always interested in feedback ;- ) Thanks, Rick.
build it, bid it, win it ℠
Also tagged with one or more of these keywords: bucketlist, dreams, lottery, unique bid auctions
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