BidCloud© platform
We are proud to announce our latest business platform. We have developed a new cloud enabled solution for online Tullock auctions. These auctions, also known as ‘penny auctions’, provide a unique value to the end customer allowing him to buy high value items for pennies, literraly.
In a traditional auction run in a hall with people being there in person, similar to Sotheby’s, people are asked to buy tickets in order for them to be able to stand on the bidding floor and bid on items. In those auctions you would typically have items sold for thousands of dollars, tickets around $10 and much less bidders than you can have online. That means a low number of participants, low price for the ticket and high price for the item sold. What a penny auction does is it raises the number of participants, and raises the price of the ticket compared to the price of the item.
For example: You offer an item that costs $1000 with a starting price of $0.01 and you limit the price raise a bidder can place again by $0.01 and you ask for a ticket price of $0.20. This means that if you have 1000 bidders the end price for the auction would be $10. And the winner of the auction would be able to buy the $1000 item for $10. However the revenue from the tickets would be $2000, allowing you to offer even more items for people to buy with pennies.
Our BidCloud© platform enables just that with the following features:
- Business out of the box – The BidCloud© platform enables you to concentrate on the most important stuff – to generate sales. We provide you with all the tools that enable you to reach that goal, online marketing tools, technical platform, payment systems, content management systems. Everything you need to ensure your success.
- Immediate cash flow potential – A scalable business solution means just that: you can manage your costs relative to your revenue. Allowing you to generate profit from the moment you start. Our consultants will help you choose a payment plant that is in line with what you expect to earn, minimizing your risk and ensuring your success!
- Full featured penny auction – The BidCloud© platform includes all the technical back-end for hosting a penny auction, including auto-bidding, SMS biding, credit card processing, inventory management, auction management.
- Cloud enabled solution – Our proprietary cloud technology allows us to serve millions of clients per second and guarantee no performance problems and a 100% server uptime.
- Integrated payment system – Enables processing of all popular payment systems available in the world today.
- Technical support – webEndians’ staff is constantly standing by, ready to resolve any problems that might occur. Or if you need a certain change of functionality the webEndians development team is there to help and customize the system to your requirements.
“We’re impressed by the energy and effort that webEndians put behind BidToken© penny auction and look forward to a prolific relationship.” Yoav Chudnoff, CEO, BidToken LLC
“We are very pleased with the results and the support provided by our premium partners of BidCloud© platform. However, the real work is about to begin, and we look forward to provide the best quality offers on the Internet penny auctions to our customers – offering them to obtain the item for a fraction of their retail cost.”, adds Victor Minchev, a CEO of webEndians
