I was really amazed when i discovered Telebid. This is really one amazing example of a money machine and i am truly envious i did not come up with the idea. It also has a perfect fit for mobile to it that can span your internet addiction across several devices all at once.
What is it then?
Quite simple: it is a realtime online auction. What’s so special? Well, typically the items on the roster go for little or even no money at all. As a good example they sold a Macbook for 151€ (in fact the end price was reduced to 0€ on auction end), an iPod touch 16GB for 22€, etc. So far so good – excellent value for the customer!
The tiny little bit that makes this thing really interesting (commercially speaking) is that every bid a customer makes is charged at 0,5€ while it only increases the item price by 0,10€ (some auctions do 0,01€).
Do the math… the Macbook went for 755€, the iPod for 132€. So where is the business? Well, it is in the mixture of the offerings and their sales prices. Some examples:
- a HP Pavilion dv6650eg cashed in an incredible 2673,60€
- another iPod Touch 16GB made them 730,20€
- a Panasonic DMC-FZ50 brought in 1923€
Guess you are getting the idea, this is just such a money making machine. As i said i am really envious as it very nicely manipulates us and plays a few psychological tricks so incredibly well. If you are interested in any of the manipulation techniques, suggest you check out “Darren Brown” on youtube. This video shows him paying a 4500$ platinum ring with blank paper! There are a lively discussion of how fake this is, at least it is very entertaining.
So i am really staying away from this one, i know i would turn into a total addict.