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Everyone loves a bargain, right? Who doesn’t like to pick up something for a fraction of the retail price and brag to their friends? Nobody, that’s who. If you’re the sort of person who loves to grab a deal, or if you’re looking for a high end product but can’t afford the tag price, WellBid could be the auction site for you. All of its auctions sell new products, no dodgy or broken second hand items at all, and you can pick them up for a fraction of the expected price if you’re lucky..
This auction site works a bit differently from others we’ve seen. For a start, there are no reserve prices on items, so all bids start at £0. Theoretically you could pick up an expensive item for a few pence, which is pretty exciting. However, there’s something else that you need to bear in mind before you get too clicky: BIDs. These are essentially credits that allow you to make a bid on an item, but they aren’t free. Let’s explain with an example: there’s an mobile phone being auctioned. At the moment the bid is at £3. The phone is worth at least £50. Great! So, before you bid, you’ll need to purchase BID tokens so you can get involved. Some auctions just charge 1 BID token, others could be 8 or 9. So, even before you have a chance of winning the item, you need to pay up. Think of it as a ticket through the auction house doors. Once you’re in, you can get bidding. There is a timer which shows you how much time remains, and you can click to keep upping your bid. The last bid to be made before the timer runs out wins the item. Got it?
We saw some top new items sell for great prices, such as a Lego Duplo Deluxe train set (worth over £150) sell for under £2. So you really can get a bargain, but it’s worth remembering that if you lose the auction then you lose your BID tokens, so you’ve paid for nothing. This is a risky strategy, but the payoffs are potentially higher than you’ll find elsewhere, replicating the buzz of a real auction house sales room.
We do have a bigger issue though, and that is if you want to sell something. We took a good look around the site, its FAQs and help sections, in our account details and around the site, but we couldn’t work out how to sell an item. Obviously there are sales going on and they’re coming from real people, but the site hides the details so much that it’s very difficult to find out anything about how to sell an item. This seems so unproductive and makes it very difficult for us to consider the potential to you as a seller.
The site isn’t much help in solving this problem either, especially as it’s so insistent that new members immediately purchase BIDs so it keeps taking you to the BID sales page. Rather irritating. This is a potentially exciting site where you can get amazing deals, but you have to gamble. You could easily lose your BIDS without winning an item, and they aren’t that cheap. If you’re looking for a deal and you have that gambling streak in you, WellBid might be worth checking out.
Click on the button below to check out WellBid.com for yourself...