What makes us different from other similar websites?
FireBidz is different in the way our bidding process works. The typical auction website works in one of 3 ways. While there are a very wide variety of auction sites out there, these are by far the most common.
1. Auctions start with the purchase of "Bid" Packs for 13-75 cents each.. Each time the customer bids on a prize, the price increases by 1 cent at a cost of the individual bid. If you do not win the auction, all you have spent is the money invested in the initial purchase of the Bid Pack (bids used). Great idea however studies have shown that the casual bidder tends to spend way more money on the bids than the retail price of the prize won.
2. Auction is set to a starting price. Each bid raises the cost of the item by the a pre-determined amount (usually 1 penny). If you lose the bid, you are not charged anything for the auction. This is a great idea except it tends to drive up the price of the item allowing the winner to save roughly 25-50% of retail on the item in most cases. In items that tend to be harder to obtain via standard channels however, the owner of the item or websites tend to make 100-200% over the price of the item at retail.
3. Auctions are listed online for one item and any number of bid options are made available. Once the auction is won, the winner gets an item very similar (not usually identical) to the item won. The price of the item is determined during the auction process itself. Great idea if the customer is less concerned about the function of them prize instead of it's authentic creation.
At FireBidz, customers simply purchase Point-Packs. Currently the bid packs are being sold for the following prices.
1,000 Points = $9.00
2,500 Points = $20.00
5,000 Points = $40.00
These points are used to bid on any item up for auction. Each time you click on the "Bid" button for an item, the item price increases by the current bid amount + 1. These points are removed from your account leaving the remaining points. If you are the last person holding the item at the end of the auction; you win. If you should lose however, all you are out is the amount of points used to bid on that item. This creates a win/win for everybody involved. All un-used points are fully refundable at their purchase price.
The Winner = wins an item for a very small price.
The runner-ups = only loses a small amount of their investment but have a chance have fun playing.
The Website = Using a combined pool of money, the website is able to list new items for a fraction of their retail prices.
- FireBidz Admin Team
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