Bid2Win Interactive TV Reverse Auction

This is an interesting concept… “Each day, high-value and desirable items can be bought for pennies by submitting the lowest unique bid via SMS.” That’s the reverse part – the prices stay low rather than keep getting bid up. Reverse auctions are normally held when there is one buyer and many sellers, which isn’t the case with this show. Still, this could be quite profitable, as companies donate goods to be auctioned simply for the advertising potential. In addition, Cellcast – the company running the show – said that a reverse auction in India received over 6.7 million bids. Assuming that Cellcast has set the system up so they get a piece of each SMS bid, they’re set up for a good returning income stream. People will bid as much as they can because it has to be the lowest unique bid…

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