How Live Auction Websites like eBay Actually Works IT’S TOTALLY NUTS!
BRAND NEW
As we are too familiar with eBay, live auction sites baffle us sometimes. There are certain similarities there, of course, but the differences are not negligible either.
W
e tend to prefer live auction websites, when we think about online shopping for any item. As we are very familiar with eBay that makes it difficult for us to comprehend how live auction websites work. However, if you pay close attention and try to understand the difference, the live auction sites give bidder more control. eBay use a proxy bidding system. It means, all you need is to define the highest bid you want to place on any item. The automated bid system, then calculate and increase the bids on your behalf. For example, if you are willing to pay a maximum of 200 dollars for a mobile handset, and it is listed for 50 cents, you need to put $200 as your bid. However, your bid doesn’t become $200 all of a sudden. The system, on your behalf, will place the bid at $1, $1.50 and above when another bidder is there. This will continue
till the bid reaches $200 after which the system will give up on your behalf. The easiest way, thus, is to mention your highest bid and check later. Also note, you can easily change this highest bid whenever you want. Live auction websites, however, works differently. This system reflects the more traditional ways of auctioning. If the same mobile is listed for 50 cents, you need to place your bid, whatever you consider to be good. If there is no one bidding after you, the mobile will be sold to you. Until someone is placing an absentee bid, there is no highest number of bids on any item. The absentee bid is a secret bid, which is to be submitted before the auction begins. This is somewhat in the style of eBay with the difference that this bid cannot be changed while the bidding goes on.
Real auction websites bring the best of both the worlds to the users. The similarity with eBay is that you can place bids online, no need to drive to the auctioneer's place. It is also possible to place an absentee bid, like on eBay. However, the similarities end here.
The difference between eBay and online live auction websites is the bidder control. In the latter, you don’t need to put the highest bid and idly watch what’s happening. Instead, you get involved in real time bidding and get the feeling of participating in a traditional auction.
About Nutbid After first discovering penny auctions we were hooked. We think they're one of the coolest and most exciting ways to shop today! Plus it’s affordable! But, we saw room for improvement. That’s when we decided we could change things! We decided that we wanted to build a penny auction site that was sleek, powerful and easy to use. We also wanted to give you the best customer support possible with that personal approach. You can win all sorts of popular products at incredibly low prices – all from the comfort of your own home! And you never have to go away empty handed, even if you don’t win the auction. Most auctions have a “Buy Now” feature that allows you to purchase the product after you’ve placed even just one bid.