Tuesday, 2 March 2010

A kind of fun...

BidFun is a site where you can bid on goods. Wow. That's different.

Actually, it is. Instead of bidding an amount, you simply up the current price by $0.02 and add twenty seconds to the time to expire. All for the price of a credit.

But what sort of thing does one bid on? How about... a Nintendo DSi Console? That's, what, $260, yeah? Would you believe someone got it for $15? How about a Western Digital 320gb drive worth $170? Picked up for just under $10. $500 Wii Console for under $5. iPod Touch 32gb worth $450... gone for just over $50.

How can they do this? Consider the last item. At 2c per bid, that's over 2,500 bids! Credits cost different depending on how many you get at a time, but between $1 per to 80c, so that's between $2000 to $2500 spent on that auction alone. Yeah, I can see how they can cover that.

On the other say, from the person's point of view, worse case is they pay $1 per bid and if they were every other bid... you can see how while it seems cheap, it isn't. This is what occurred to me when I started getting in there and thinking "I might need some more credits... wait a minute!"
Not that you'd have one person being every other bid, it gets too crazy when the auction nears the end for that, it can extend hours waiting for that last minute to tick by...

That said, that Wii Console, $5 means 250 bids, so at worst someone paid $130 for the console... now that's a steal!

That's a neat site I want some items from... but go in with eyes open... and get a hell of a bargain!


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