Will you bid for home theater system instead of BMW?

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I am a curious cat behind all those lowest bidding win the product kind of text message bidding programs. Because it is against the logic, since $0.01 is the lowest bid, how do you decide the winner if tons of people betting on $0.01? It just doesn’t make sense.

When the Bidding product site appear in payperpost, it catch my attentions on the first sight.

After reading rules and condition of game, I learn the logic behind the game. The games is about lowest unique bid price win the prize. So you will never know who will win the prize until the bid close :

  1. You send message to the site with your lowest bid, e.g. $0.01
  2. You win the prize if nobody bid the same figures, e.g. $0.01
  3. If more people sending bid of $0.01, then your bid are no longer unique. And the prize will move UP to the next lowest bid that nobody sharing the same bid price.
  4. So in order to win, you need to send a series of price message that you think others people are not going to bid

So basically it is actually a psychology games. This game will give you a higher change of winning a prize compare to lottery ticket. In addition, the lowest bid contest doesn’t stop there. To compensate losing player, the organiser even giving out prize for the bidding point. The bidding point are earn from the message entry from the player.

Among all the prizes offer, the most eye catching product are the BMW 3 series. But practically, I like the Panasonic 42″ TV & Bose DVD Theater System most. Because I am not going to live inside the car, the car is little use to me. Honestly, winning the car will mean more works. Since one must cash out the car to pay the tax(yes, nobody want the IRD chase behind them) and buy the home Theater system. The BMW series cumulative income tax margin is not likely to be “friendly” to a salaries earner. So bidding on the home Theater System will save me all the hassles.

So what will be your bet?

Notes : Do take you time and read the contest terms and condition carefully. It is important to check the tariff before you bid the product.