What makes the Dubli Auctions so unique is that they all have some sort of characteristic of a “reverse” auction, where every time you bid, the price of the item goes down . . . instead of up. And here’s how they work:
Xpress Auction- The price of each item starts at retail (same price you would see in the typical retail store). The current price, however, is hidden. And to see the current price, you just click on the Show Price button. To do that you have to use the Dubli Credits; and credits are 80 cents a piece. So when you click on show price, you’re spending one credit, or 80 cents, and 25¢ of that 80¢ is immediately applied to reduce the price of the item, and the other 50¢ goes toward commissions. So every time somebody bids on Show Price, they see a price that’s 25¢ lower than the previous bid, and they have the option to buy the item at that price.
So, think about what’s happening here: On eBay, every time somebody places a bid, the price goes up. So, what do people do? (they gradually lose interest and drop out of the auction as the price rises above their threshold). On DubLi, every time somebody places a bid, the price goes down. So, imagine thousands of people bidding on one item, and as the price of the item gets lower, there’s an increase of bidders (not a decrease), all paying 80¢ a bid, driving the price lower faster, which causes even more people to bid, and each of these bidders has to decide each time if they’re going to buy the item at that price, or see if they can wait and get it for even less . . . And then, somebody buys the item at the discounted price, and the auction’s over for that item. And then DubLi puts another one up just like it, but the price starts back at retail.
So, you can see how this creates a very exciting place to shop and have fun, and work your strategy with the falling prices . . . and of course, buy things at significant discounts. It’s way more interesting than eBay because the longer the item remains on auction, the lower the price goes, the faster the bids come in, and the greater the savings to whoever ends up buying it (because remember, their purchase price is being subsidized by all those bids).
Zer0 Auction - This is somewhat different than the Xpress auction. The Zer0 auction is almost like a game. The starting price is full retail price (as Xpress is). The current price is hidden, and every time somebody clicks on “Show Price”, they’re charged one DubLi credit or 80¢, and the price drops 25¢. The object of this auction is to be the person whose bid brings the price down the last 25¢ to zero, because if you’re that person placing the last bid, you get the item for free. So imagine what happens when the price of that plasma TV or video game console gets down to a few bucks. People who are interested in these items start clicking like crazy (at 80¢ a click) trying be the last bidder, because the last bidder is going to walk away with it for free. This auction certainly gets people’s attention, as you can walk away with free products. As of November 1, 2008; DubliNation.com will begin to include brand new vehicles in the Zer0 Auction.
UNIQUE BID. This auction is similiar in that it costs 80¢ for each bid (just like the others), and the object is simple: Whoever places the lowest unique bid amount for that item gets to buy the item for their bid amount. So, I let’s say I pay 80 cents to place a bid, and I enter $2.20 as my bid. It’s a timed auction, so when the clock runs out, the computer will run through all the bids, it eliminates any bid that has a duplicate, and then pick the lowest single unique bid; and that person gets to buy the item at that price. So, if nobody else bid $2.20, and that’s the lowest bid that anybody placed on that item, I get to buy it for $2.20. These are the same products on all the other auctions that are valued at hundreds, if not, thousands of dollars at full retail price.......yet they're often being purchased for pennies onthe dollar.
So, that gives you an idea of what the auction site is like. People are finding it very compelling, which is why (after only 10 months in Europe) there’s already 1.3 million registered customers coming to the site on a regular basis, and buying an average of about 10 credits a month each to participate.
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