Reverse Auction
Jul 12th 2009, 8:42 am
#1
Concierge
Thread Starter
Joined: Feb 2007
Posts: 29,625
Reverse Auction
www.humraz.com
Just listening to a guy on the radio talking about this. He is selling his 4 bed apartment at the Green Community via this site. What happens is they sell seats for the auction at 200 quid a seat, this brings in the amount of money required to cover the cost of the apartment. The lowest bid wins the property!! good idea. If you pre book your seat now it is only 30 quid.
Just listening to a guy on the radio talking about this. He is selling his 4 bed apartment at the Green Community via this site. What happens is they sell seats for the auction at 200 quid a seat, this brings in the amount of money required to cover the cost of the apartment. The lowest bid wins the property!! good idea. If you pre book your seat now it is only 30 quid.
Jul 12th 2009, 9:00 am
#2
**** it we'll do it live
Joined: Oct 2004
Location: Dubai
Posts: 7,892
Re: Reverse Auction
www.humraz.com
Just listening to a guy on the radio talking about this. He is selling his 4 bed apartment at the Green Community via this site. What happens is they sell seats for the auction at 200 quid a seat, this brings in the amount of money required to cover the cost of the apartment. The lowest bid wins the property!! good idea. If you pre book your seat now it is only 30 quid.
Just listening to a guy on the radio talking about this. He is selling his 4 bed apartment at the Green Community via this site. What happens is they sell seats for the auction at 200 quid a seat, this brings in the amount of money required to cover the cost of the apartment. The lowest bid wins the property!! good idea. If you pre book your seat now it is only 30 quid.
just checked the minimum bid is 1p ok i bid 1p nobody can bid lower i win...WTF
Jul 12th 2009, 9:03 am
#3
Joined: Jun 2008
Posts: 1,271
Re: Reverse Auction
err cant see how this works, i tried the demo auction, my first bid is the lowest possible, i win. why would anyone bid more than the legally required minimum ie if its a dirham then i bid a dirham and win.....dont get why anyone would bid more.
just checked the minimum bid is 1p ok i bid 1p nobody can bid lower i win...WTF
just checked the minimum bid is 1p ok i bid 1p nobody can bid lower i win...WTF
Jul 12th 2009, 9:04 am
#4
If I have to explain...
Joined: Sep 2008
Location: Where ever the road takes me
Posts: 3,999
Re: Reverse Auction
err cant see how this works, i tried the demo auction, my first bid is the lowest possible, i win. why would anyone bid more than the legally required minimum ie if its a dirham then i bid a dirham and win.....dont get why anyone would bid more.
just checked the minimum bid is 1p ok i bid 1p nobody can bid lower i win...WTF
just checked the minimum bid is 1p ok i bid 1p nobody can bid lower i win...WTF
Jul 12th 2009, 9:11 am
#6
Concierge
Thread Starter
Joined: Feb 2007
Posts: 29,625
Re: Reverse Auction
well I have reserved a seat at the auction - 26 quid, so we shall see what happens when it goes live. I shall save my bids til the last day. I love those apartments at the Green community, and someone has to win, you just never know!!! if anyone else registers if you say I recommended you and you win then I get 5000 quid!
Jul 12th 2009, 9:17 am
#7
Joined: Jun 2008
Posts: 1,271
Re: Reverse Auction
well I have reserved a seat at the auction - 26 quid, so we shall see what happens when it goes live. I shall save my bids til the last day. I love those apartments at the Green community, and someone has to win, you just never know!!! if anyone else registers if you say I recommended you and you win then I get 5000 quid!
Last edited by rowell; Jul 12th 2009 at 9:19 am.
Jul 12th 2009, 9:18 am
#8
Concierge
Thread Starter
Joined: Feb 2007
Posts: 29,625
Re: Reverse Auction
Well for 30 quid even if they sell the tickets to make their 700K then if my maths is correct thats 700000 divided by 30 is over 23000 :1 and each can have 100 bids so that is 23million to 1......but someone has to win, do you get your money back if they dont sell the tickets they need to and is there a ceiling on how long it can run before they have to auction it or pull out, didn't read it all
Jul 12th 2009, 9:20 am
#10
Concierge
Thread Starter
Joined: Feb 2007
Posts: 29,625
Re: Reverse Auction
Jul 12th 2009, 9:26 am
#12
Concierge
Thread Starter
Joined: Feb 2007
Posts: 29,625
Re: Reverse Auction
you don't need to the Agent the Security guys has all the keys, I will PM you my number so you can see mine.
