Online bidding isn’t a new concept.
If you’re a smart shopper or enjoy uncovering low-priced hidden gems, then I’m sure you’ve participated in online bidding from some popular auction sites such as eBay.
But nowadays, many have avoided the conventional auction sites due to unpleasant experiences. Most, if not all of the sites only list pre-owned items. It is also not surprising if many encountered fake listings and possibly even counterfeit goods.
To make things worse, when bidding, some might even end up paying more than the retail price because of opposing bidders.
That’s where Bideefy comes in with a ‘Bid & Shop’ concept that aims to change the way you buy things online.
They want to combine the thrill of getting a good deal, without the risks of overly high prices. How do they achieve that? On their platform, every product’s bid starts at RM0.01.
Every consecutive bid after the starting bid is also RM0.01. This means that you could potentially nab yourself a brand spanking new Samsung Galaxy Note 10 for just a few cents—if no one is bidding with you that is.
How Bideefy Works
Signing up is free and will net you 5 free bids immediately.
(Using the redemption code VulcanPromo after signing up can get you 5 free additional bids. The redemption code expires on the 11th of October 2019.)
To start the whole bidding process, you will need to purchase bids from the site. The bids come in a few bundles of 10, 25, 50 and so on. The bundle with 10 bids will cost you RM20, and the larger the bundle, the more savings you get.
Bideefy’s first auction starts on the 5th of October 2019. The good news is, Bideefy is having a pre-launch giveaway campaign now. Every 50th new user that buys a minimum of 50 bids will get a free Fitbit Versa Smartwatch worth RM998.
The campaign will end at 11:59 pm on the 4th of October.
Once an auction starts, each bid you place will reset the timer to 60 seconds and the process will only end when the timer hits 0 and no additional bids were placed.
The winner will then only have to pay for the auction price of the item plus a handling fee of RM5.00.
Disclaimer: Bideefy only delivers to addresses within Malaysia.
If the winner does not want the item to be delivered, they have the option to “cash-in” said item. By cashing-in on the item, 85% of the retail price of the item will be transferred to the winner’s bank account.
Example: Mr. XY cashed-in an RM100 voucher on Lazada after he won the auction. Bideefy will then deposit RM85 (minus the final auction price) into his bank account instead of delivering the voucher.
What If You Don’t Win An Auction?
If you fail to win the bidding war, you can still purchase the item at retail price minus your bids spent during the auction. This way, you won’t catch the FOMO bug, while still grabbing yourself a good deal.
Example: You wanted to get the RM100 voucher, but lost to Mr.XY even after you had 10 bids. You can choose the “Buy Now” option. All you have to do is pay RM85 because you had 10 previous bids on the item. (Each bid is priced at RM1.50 for the “Buy Now” option.)
For the newcomers in the bidding scene, Bideefy also has a page dedicated to tips and strategies on being a smart bidder. While some of them are quite obvious, it is still a good idea for beginners and seasoned bidders to keep those tips in mind.
The platform has also enlisted the help of an auto-bidding tool. But don’t worry, the tool is there to assist you in winning. Dubbed the Bid-O-Matic, it allows you to bid on the product when you are away from your device. All you have to do is input the auction price and the number of bids you want to place.
Rewarding Their Users
Aside from these features, Bideefy rewards its users in different ways as well.
The top 10 bidders on the site will net themselves 500 bonus points each week. The top bidder of the month can “Spin-The-Wheel” to win additional prizes on the platform, netting them even more prizes at the end of the month.
You can also “level up” as you bid. Levelling up will earn you free bids and other bonuses. You could even get discounts when you purchase bids after reaching certain levels on the platform.
A Peek Behind The Curtains
We spoke to Bideefy’s Founder, Desmond Mar and asked some questions about the platform.
He shared his observation that millennials are more adventurous and more inclined to embrace new concepts. He also mentioned the inspiration for the platform stems from the success stories he saw overseas.
Desmond’s primary goal is to offer shoppers a chance to own branded products such as the latest smartphones, wearable gadgets, cameras, laptops and more while just paying only a fraction of the retail price.
By doing so, he is also redefining their shopping experience via the gamified bid-and-shop auction platform.
The platform is currently working with authorised resellers to source their products. The resellers are also the ones that sell their products on Lazada and Shopee too. Users will not have to worry if the product they bid on turn out to be fakes. Bideefy aims to secure partnerships from official brands in the future as well.
And for those thinking of trying to bid, Desmond has a piece of advice: “Always start with the low-value products first. Only choose products that you intend to own in the first place. Be patient and observe how other participants bid before getting started.”
Remember to use the redemption code VulcanPromo after signing up to get 5 free additional bids! (Voucher expires on the 11th of October 2019)