I am giving you the possibility to start your own Reverse Auction website!
What is reverse auction?
Reverse auction is not the normal type of auction. With reverse auction, not the highest bid wins, but the lowest unique bid wins. This may seem weird, but it is a proven concept on the internet, and TV shows
How does it work?
From your site, people select a product they would like to have. The pick of products is yours, but in my experience, technical gadgets work the best.
They enter their bid on your website, and are presented options to bid online, or to bid per SMS. After they have entered their bid, the system will sent them a SMS if they do not have the lowest unique bid anymore. This invites them to keep bidding, even when at work or school
Where is the profit making opportunity here?
Very easy. To bid, a user needs credits. They have to buy these from the site. Payment gateways currently implemented are paypal & wire transfer. You decide what the cost of 1 credit is, and how many credits bidding costs (on a per product basis). People can buy coupons, to top up their account per SMS, or directly refill through the website. The admin panel comes with a coupon generator, so you could offer coupon lists with 10% off to resellers.
Lets say your gadget costs $200 in the store, and you have $1 per credit set. You only need 200 bids, to make a profit! If you have the ability to sent teens or other GSM loving traffic to your site, this is a goldmine.
Bid via website or SMS
Top up account via website or SMS
Transfer credits to other users
Find the status of their bid through website or SMS
Get a list of all available products through website or SMS
Be warned when they are underbid, or bumped (same bid, making theirs no longer unique)
Tell a friend
Add / remove / edit products
Add / remove / edit news in client area
View statistics on bidding
Set minimum bid amount on product, bidding wont end untill its reached
Generate coupons, one by one of in batch
Keep detailed statistics on invoices and payments
Add / Remove / Edit users
The system works through SMS or Website
Possible SMS messages:
- Bid update
User receives a SMS with a update about their bid, urging them to bid again
- New bid
user texts BID <productcode> <bid> to your shortcode, immideatly receives a bid update
user texts REG <theirusername> To your shortcode to get an account
user texts PIN <couponcode> to your shortcode to top up their account
user texts TRANS <receiver> <amount> to your shortcode to transfer credits
Login: Demo pass: Demo
Login: Admin pass: Admin
$150 per license
If you are interested in purchasing the exclusive rights, contact me
After Sale Support:
Installation, bug support
One IP license!