You won’t find the usual gift card, iPod or laptop on DreamyBids.
How would you like to spend your bids bidding on a date for a change?
But not just any date, this penny auction site is offering penny auctions for “dream dates” and “fancy things.”
“DreamyBids.com is a micro auction game for dream dates and fancy things. We all have a vision of our dream date and most of us will never get to go on them. Offering your dream date for auction is a great way to have your dream date affordably.”
This penny auction has a unique look and feel, very pinterest like.
Take for instance this auction for a date with Rani who looks like she could be a real live Bollywood star.
“Take Me To Miami: Hi guys my name is Rani, I’m a 22 years old from east India. My dream date is a fun, entertaining weekend in Miami. Win the auction and you can take charge and plan our Miami weekend date with $2,000 in expenses. “
So for a limited time you can list a date for free (the fee will soon be 10 bids to list a date), but it also says you have to be comfortable and selective with who you choose to participate in your date, however when registering the site does not ask for any personal information or require members to provide photos, so as of yet not too sure how this process would work. DreamyBids states that members can earn cash for the dream date, if the site collects more than 30% of the total value of your dream date, the date poster will earn 50% of the overage delivered in the form of a Visa gift card
“If your dream date has a value of $1,000 and we collect a total of $1,500 in bids (not including free bids), you’ll earn $100 as a bonus for your auction. $1,000 + 30% = $1,300. 50% of the remaining $200 balance is yours. – The 10% service fee is waived if we collect more than 30% of the value of your auction in bids.”
DreamyBids penny auctions are what we call “seat auctions,” a seated penny auction is a form of a reserve and ensures that the penny auction owner makes x amount of money before the auction starts.
How seat penny auctions work:
Seat auctions require a specified number of bidders to purchase a “seat” in an auction before it opens. Once the required seats have been purchased a notice is sent out to participants with the scheduled date and time that the auction is set to begin. On past seat auctions that we’ve seen, non-seat purchasers are blocked from bidding once the auction starts and bids are unlimited once a seat has been purchased.
On DreamyBids a “seat” is held when a bidder has the required bid amount. The dream date auction for a Miami date with “Rani” requires “222.44 bids” Since bids aren’t sold in 1/2 amounts, this may mean 223?
Dream Date details:
“1. If this is a dream date auction, you are fully aware this is NOT a sex service, there is no promise or expectation for sex on this dream date.
2. You are aware the 222.44 bids used to take a seat in this content is nonrefundable, even if you don’t place a bid.
3. You are fully aware of how our auctions work.
4. If the auction is canceled your bids will be returned to your DreamyBids.com account.
5. If the auction is reschudeled 2 or more times after you take a seat, you’ll be automatically withdrawn from the auction with bids credited back to your account.”
Since there is no value on spending time with Rani, the listed value of the Miami Dream Date with Rani is $2,000 – in addition to the date $2k is given to the winner to spend on the date.
“I want to go to Jamaica: Fella’s I’m Christie, I’m 23 years old. My dream date is to go to Jamaica for a week. You and me on the sandy beaches living it up. Win the auction and we can plan how to spend the $4,000 together.”
So far there have not been any seats purchased in either auction.
Would you try DreamyBids.com? What do you think of this penny auction site?
Though there have been a few brilliant minds behind a few of the few seat penny auctions we’ve seen over the past 3+ years, we really haven’t seen a seat auction that proved to be very successful. We think it has to do with the waiting game.
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