Hmm... Yet another interesting business idea from my primary schoolmate.
This time round, it's a form of reverse auction model. You bid as low as you want for the item that you want to buy, but the catch is, the lowest unique bid wins! So if you have superb maths and are really lucky, you can actually win the item for a very low price!
The only catch is, you got to bid and each bid attempt costs a dollar or two. It depends on the item really. There is no time limit on the auction item but rather a bid limit. Let's say Nintendo WII has a bid limit of 300, that means a total of 300 bids will be accepted before the lowest unique bid wins! Well, I think it is a good business model.
Man... will more people please bid on his Nintendo WII? the bidometer is stuck at 1.5% i think.
Me wants a Nintendo WII!
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