Penny & Reverse Auction The New Rage On The Internet ?
visitor 3 decides to place a bid… and so on.
Clear?
So assuming each of those 500 people that initially saw the car popping up on the telebid website actually decide to place a bid the price would be at 61 GBP which would still be a pretty good bargain for a brand new car, wouldn’t it?
What’s in it for Telebid?
Reading telebid’s aggressive advertising slogans you are lead to believe that you can save tons of money by obtaining products at 90% off the retail price. Indeed, browsing through some old telebid “auctions” gives the impression that telebid users buy products for quite a bit less than their worth. So how does Telebid finance the whole thing? After all there are not just bills to pay for the products telebid is selling. The whole thing needs to be highly profitable as well. Especially since Wellington Partners, the primary investor
