Bid4Prizes is a new website that takes bidding on prizes to a new level. Users attempt to have the lowest bid on an item, a bid that is unique to all others. The way it works is that you go to the site, choose an item to bid on, and then send a text message with your bid. If your bid is the lowest unique bid at the end of the auction, you win.
Personally, I would like to win the BMW 3 Series, not because I need a BMW, but because it seems to have the highest cash value. I´d probably end up selling it (even though it is a very nice looking car) and using that money for other things, like school and debt. Overall, it´s a neat concept and you can find out more by watching the 2 minute video on Bid4Prizes´homepage.
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2 Comments
Interesting, truly. I think the power of driving down prices drives up engagement and participation. Paired with eBay, this offers a “supply side” to the “demand side” economics shaping online auctions. You might also be interested in this article on “crowd pricing” — already popular in Asia, but just starting to bubble up in the US. We think it is the BIG idea yet to hit… http://www.unboundedition.com/content/view/444/54/
Be well,
Patrick
hey I tried it out and it is pretty cool. Thanks for the recommendation