radioactive28 0 Report post Posted November 2, 2007 Seems like it's kicking up a hype in HWZ, but it got my attention through their MRT ad: a girl wearing an AKG K701 ("Brand new, from $6.74 on") (I'll try to post a photo of this later ) Their business model seems to be this: - put item up for bid at very low price - lowest unique bid wins (meaning for an item with 10 bids at say 10 bucks, but 1 bid at 100 bucks, the 1 unique bid gets the item) - here's the catch: every bid involves a processing fee Any thoughts? While the service is still new, seems like there'll be a lot of opportunities, since a bid ls unlikely to find competitors (or friends). But ultimately sounds like a loss-making business, unless they drastically change the rules later on. Share this post Link to post Share on other sites
kyaw 0 Report post Posted November 2, 2007 Yeah, I also saw the ads on MRT and it caught my eyes too... Wanted to snap a photo but gave up. » Click to show Spoiler - click again to hide... « But the K701 that the girl wearing has no cord Share this post Link to post Share on other sites
Stereo_Electronics 0 Report post Posted November 3, 2007 » Click to show Spoiler - click again to hide... « But the K701 that the girl wearing has no cord Maybe that's why it's so cheap. Share this post Link to post Share on other sites
aaron-xp 0 Report post Posted November 3, 2007 I noticed that the advertised prices (starting from $X.XX) is a hundred times lower than the recommended resale price. Share this post Link to post Share on other sites
PPkiller 0 Report post Posted November 3, 2007 any idea how much is the processing fee? Share this post Link to post Share on other sites
davsmiths 0 Report post Posted November 3, 2007 each bid i think is $2. Share this post Link to post Share on other sites
PPkiller 0 Report post Posted November 3, 2007 wah... in that case they earn quite an amount from the processing fee... definitely worth the price tag of the item they put up for auction.. N95 has 907 bid... 907 *2 = $1814.. looks good.. Share this post Link to post Share on other sites
radioactive28 0 Report post Posted November 3, 2007 907 bids? O.o No ****, it's a good business after all then? HWZers were questioning whether the processing fee per bid is actually illegal. Apparently, there's a law against building a business/auction with profit based on such fees. Should be interesting to see what comes out of this, if any. Share this post Link to post Share on other sites
blackmouth0 0 Report post Posted April 29, 2008 the bidding i tihnk is a bit fake, well, i dunnom tried for some time, i realise i had nv charge me any fee for my first bid...only for my second bid...hha.. Share this post Link to post Share on other sites
Dio 0 Report post Posted May 5, 2008 I have tried it, an in mho... think u will lose more money trying to get the stuff u want. Previously it was the lowest bid, now its the highest unique bid, but there is a cap to the amount u can bid for an item. The process fee varies from item to item, the hotter the item the more the processing fee. It can be from $2 - $10 or more. so far I have spent about $30 on processing fee and have got nothing. The site would recommend that you make a few bids for an item. This is suppose to increase the chances of you getting the item. But so far no luck for me Share this post Link to post Share on other sites
blackmouth0 0 Report post Posted May 5, 2008 i spent 4 dollar only..haha... on two occasion =) Share this post Link to post Share on other sites
seiko_citizen 0 Report post Posted May 20, 2008 try many times in Oz using free credits, never win ... so no longer play Share this post Link to post Share on other sites