Swedish tabloid Aftonbladet report on “the first ‘lowest-bid-auction’ in the internet has been launched in Sweden”. The idea with Bidplayer seems to be that the person who places the lowest singular offer on a product, wins the right to buy the product at that price. The auction ends when a set number of offers have been received.
To me, this seems very fishy. For example, they are offering a product where they state the price in a shop to be SEK 10000. Every placed offer (by mobile phone) costs SEK 15. A quick calculation shows us 1500 x 15 = SEK 22500 earned by the time the auction ends. The up-to-SEK 500 the winner has to pay don’t really matter in this calculation. This is just an elaborate lottery.
Oh, and here’s another mind twister: what happens if I put in 1000 offers, two offers for each amount from SEK 1 to SEK 500? No-one wins, because there is no lowest unique offer — because there is no unique offer at all. Very fishy…
(Via Aftonbladet)