9 month ago. I was introducing my idea of how penny auction can be totally legit and fair business nearly in every corner of the world.
Today...I can show it live.
My project is live even not yet fully finished. ( need some more stuff + English version ) but you can use google translator, have a fun nearly as you have fun now by reading my English which I didn't practice for more than a year. :-))
so excuse my typing mistakes and my bad English and try to understand my message :-)
If I chose a bad area to represent this new look of penny auction business by explaining my penny auction site ...please admins... let me know where can I do that
so...lets begin. penny auction tool as it is now
As I see the biggest problem of penny auction is ...the winner is one and he gets a big price for small investment, all other lost their bids and money.
Penny auction scripts, programs, software cheap or expensive have all the same tool.. tool to extract the money from users pockets as soon as they can.
For big players as quibids and madbid there is no problem. Peoples are going there by knowing they are going into gambling situation... and don't care cause there is hundreds of new items every day over there.
But small penny auction sites , by having same tool.. they simply have no chance to prosper.
Small investment, small marketing, gets small resoults.. small number of peoples coming to them and went out as son as they lose their money.
So small penny auction is forced to invest all earning into new marketing each month.. hoping to get new clients.. but sitauation is same every month and after 5-6 months small penny auction owner quits his efforts.
my idea is this :
Don't be gambling site.Give peoples a chance , implement web shop into penny auction, give them discount on the base of value of their lost money inside penny auction, and let them to have a chance of playing without a loss if they are ready to buy from your web store.
There is 2 sources of income than .. penny auction and web store.
If I make profit from auction , I give away my merchant margin to my customers so those who didn't won auction, can have discount prices at level which no one wouldn't give them ....
Ill give away all of my merchant profit form this sale to keep them happy .
If my customers are happy , they wouldn't leave... they would bring their friends inside, and by the time... I will increase my customers base and keep my business heatlhy.
lets say you spend 30 euro at auction for 100 euro item worth. and you didnt won.
1.st you have buy now option.. to pay the difference from now on till midnight of next day ( 24-35 hours long time )
2.nd If you overbid this item and spend 120 euro.. i will return you thos extra 20 back and will send you item for no more cost ...for free. ( you paid already across placed and spend bids ) and it would be as you made purchase direct from web store.
3.rd. In value of those 30 euro..if you dont use buy now option.... you gets a discount-coupon in same value to purchase any item from web store .. ( but value of max discount is shown at each item so 100% use fo your 30 euro coupon would be at items worth 200 euro or more.. and auction will be free for you .. no cost.at all
4.th. If for any reason you cant by or wont ... anything, you can invite your friend who is not a member of my site , to become a member, and I will readress this coupon for new customer and he will get discount price at web store and see from begining this is no scamm or cheat or gambilng. This new customer get positive feeling about whole web site and .. breaking ice is instant.
5.th ......Someone is interested for some item at auction and someone is not .. how to get all customers interested? Simpoly give them an option to buy back item won at penny auction at 50% of price ( optional) . So if they spend 20% to win.. they get 50% in bbids.. and have more fun.. or bigger wallet to buy whatewer they want in my web store
6.th ..If they want more value for their won item, I can put item on classic auction for all other customers, and if there is a buyer.. buyer pays me a price,, gets new item and seller gets more bids on their account
So whole sistem is to have a fun... get a greate deal in won items or..... have a cost free fun as long as customers buying items in my web store for coupon-discounts made from their lost bids inside each auction.
You can check my web portal at http://www.eureka.com.hr
inside next 2 month whole project will be on sale for interested buyers, with individual moderations for language...payment option..design...
There is no 100 different options and prices .. there is only two ... and all functional modules are in same package.