Kaki Shopping

In one of my most recent internet surfing adventures, I stumbled upon a site that specializes in a new concept of online auctions that I find rather appealing.  The online auction offered at Paylessbid.com is targeted at consumers looking for electronics wholesale products, at very very cheap prices.  The online auction uses a unique bid system where the highest unique bid wins.

In what is also known as a reversed auction, Paylessbid.com’s online auction is one-of-its-kind because it requires a little plotting and scheming along the way, if you really want that particular electronic product for a bargain.  For example, if you have been eyeing the new Apple 16G iPhone 3G, typically, in regular auctions, what you would do is to make sure you outbid everyone else.

However, in this reversed auction, you need to remember that only the highest unique bidder wins.  What’s more, some strategy comes into play when you are able to outbid other bidders, by bidding the same amount, thus cancelling their bid, and at the same time propelling your bid to a higher position.

Confused? 

Don’t worry, so was I, till I read the guidelines on how to bid and took the three-minute-or-so virtual tour, which is really self-explanatory.

If you want some hands-on bidding practice, you can also try your hand at the practice auction, before you actually try the real thing.  After all, signing up is free of charge, and it never hurts to take a look first before you commit, right?

Happy bidding!