bigdeal.com
Posted on: November 19, 2009
BigDeal.com is a venture-backed company that is pioneering a new type of auction called the GUARANTEED AUCTION. Guaranteed auctions are different than typical Internet auctions in the following three ways:
1. Winners of guaranteed auctions get a huge discount, typically 65%-90% off retail. We only auction new, factory-sealed items with a 100% return guarantee.
2. In order to win an auction, users purchase bids for $0.75 each. This keeps competition low, resulting in huge discounts for the winner.
3. Users who don’t win the Guaranteed Auction get ALL their money back to purchase the auction item at its retail price and can apply their money to get a discount on a gift card.
To participate in an auction, customers purchase bids for
$0.75 each. Auctions start with a 24-hour countdown clock and
a starting price of $0.00. When a customer bids, the price of
the auction increases by $0.15 and the auction clock goes up
by 30 seconds. The high bidder when the clock reaches zero
wins the auction and gets a really Big Deal (65%-90% off!)
There is no reserve price on Guaranteed Auctions.
Save To Favorites
Digg it
Share it