PushDeals.com puts a new spin on an old idea
I just visited a new Web site called PushDeals that lets you pick up really cool gear for pennies on the dollar in a penny-auction format. An auction that ended yesterday, (October 10th, 2008), was an X-Box 360 Elite for $4.17. Yup, you read that correctly; an X-Box 360 Elite sold for only four dollars and seventeen cents! (free shipping in the United States too)
Each bid costs $1 (one dollar), unless you buy bid credits in bulk.
Bidding on PushDeals.com is simple.
- Sign up for an account
- Add bid credits to your account via PayPal
- Click on “Push to Bid” button
That’s all there is to it. Bid increments 1¢ (one cent). Each time a bidder clicks the Push to Bid button, the bid increases by a penny and the auction clock resets to 2 minutes.
Where the idea breaks down is when the auction is low. Somebody who hopes to win a nice item on the cheap is going to be disapointed if you get in auction early and bid often. At a dollar pop, it can get expensive. So, basically, you’re hoping other people are going to bid up the item for you so you can grab it at the end.
The X-Box auction took as long as 13 hours and 54minutes to finish…probably less because bidders bid before each 2 minute countdown is finished. We can round down and say that it was about 12 hours to close the auction. So, the community basically bought somebody an X-Box 360 Elite for four hundred seventeen dollars.
Still, it’s an interesting idea. I’m crossing my fingers that bid for 37 cents on an Amazon Kindle Wireless Reading Device holds up…oh…never mind; I guess I have to bid again. 
Regards,
David
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