Why does Exceet represent the next evolution in online auctions?

June 28th, 2010

We think that pay per bid online auctions like penny auctions and lowest unique bid auctions represented an evolution from the traditional eBay style auction model. Why? Well because they are far more entertaining and interesting and winners get to win products at a fraction of their real value. The top half dozen penny auction sites in the US now get 10 million visitors a month after just 12 months or so of operation. That’s impressive numbers!

But Exceet thought that pay per bid auctions sites still were not offering customers what they really wanted…namely real variety and fairness. The variety issue is that most pay per bid sites offer only one pay per bid auction style to their customers. All of us usually have a favorite food, but we don’t want to eat it everyday. We like variety.

However fairness is where all the pay per bid auction sites really come unstuck. You see they all list the products that are being auctioned. This is a huge conflict of interest. What this means is that the profitability of the auction site is directly dependent on their customers losing money on their auctions. A massive problem and one they’ve been receiving a huge amount of criticism for. All these pay per bid sites are busy advertising how you can win at product for up to say 90% off, while at the same time are built on the very fact that their customers need to lose for them to make money. You can only con people for so long…

So what do these sites do? Simple. To ensure they make money they stack the odds against bidding clients (you and me) to ensure that on average they lose. And to make matters worse many small sites that are short of cash and have only a limited customer base have given into the temptation of resorting to bots and shill bidding to fraudulently increase the sale price of their products and stop genuine bidders from winning products, which would cost the site money.

So how can people who like the style of pay per bid auctions know which site to go to?

Just answer one simple question…

Does the site list the products they auction or do they have independent sellers?

The only pay per bid site in the world that offers pay per bid auctions where independent third party people are the sellers is Exceet. They realised how fantastic pay per bid auctions were, but how poorly the current sites were treating customers, so they decided to take these auctions to the next level.

But they didn’t just replicate the current model and give you independent sellers. No way. They decided to make it far more interesting for bidders by offering you four different pay per bid auction types on one site. Another world first. So you can play penny auctions, lowest unique price, reveal the price and zero price auctions all on the one site. But there’s more…

Exceet also offers a free daily cash auction. That’s right, they give away cash everyday…free. No catches. You can’t even buy bids in this auction so there is no secret intention. It simply represents a portion of their marketing strategy and budget. Hey, I’ll visit a site that’s going to give me the chance to win free money! Again their the only pay per bid auction site offering free cash.