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PoundBid.com - all your favourite supplements from under £1

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2009/07/20 10:12:27 (permalink)

PoundBid.com - all your favourite supplements from under £1

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Poundbid.com launches today with all brands of supplements priced from only 5p.  The only auction site in the UK to cover sports nutrition we're offering some amazing prices - up to 99% off normal RSP.

What is PoundBid?

PoundBid is a chance to get all your favourite supplements for dramatically reduced prices.

Met-Rx Supreme Whey for only £1.12
Optimum Nutrition Gold Standard Whey for only 98p
Muscletech Hydroxycut for £1.29
EAS whey protein only 66p

With 5 auctions every day, we've got over 200 different products in stock so you can be sure of getting your favourite brand or product at a huge discount to its normal price. You can bid on each auction using your mobile or online and each bid raises the item price by only 1p - so the price is always extremely low. The last bidder when the auction closes wins.

Who are we?

A bunch of hard training programmers (yes, techies go to the gym too!) who want to offer great products and great prices using the low cost auction model.  Its regularly used in other areas, we're the first to bring it to sports supplements. Its been 6 months in development and now we're launching it on Muscletalk first.

How does it work?

Just use your mobile to place a bid, or buy a bid pack and bid using your mouse.  Each bid raises the price by 1p and extends the time of the auction by up to a minute. When the auction closes the last bidder wins.  Simple as that.

As a special launch offer, we're giving away 5 free bids to all members who register for the next two weeks so you can try the system without any cost.  All you have to do is register and collect your free bids to start bidding.

Useful links:

Latest auction:  http://poundbid.com/latest
Register now:  http://poundbid.com/register

http://poundbid.com


Happy bidding,

Oliver
PoundBid.com








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#1

31 Replies Related Threads

    USA DEALS
    Aaron Hallett
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 14:20:11 (permalink)
    so you spend £1 to raise the bidding by 1p....

    so even though you 'win' the auction at £1.50, you bidded 20 times so in fact, you have spent £20 for that 'win'.

    am i correct?

    by down playing the cost of the bid, which is not mentioned once in this advert apart from the name of the website, hence it seems a bit of a dupe

    no different to ebay other than you lose potential sight of how much money you are playing with as your bids cost a pound but raise the price by a penny attracting more bids from others.

    PoundBid is a chance to get all your favourite supplements for dramatically reduced prices.


    not to be too cynical but for the cost of it, i dont see the saving if you still place 20 bids competing with others for this penny increase in the auction.

    You can bid on each auction using your mobile or online and each bid raises the item price by only 1p - so the price is always extremely low. The last bidder when the auction closes wins.


    best hope for a dead auction then with no interest as you will end up paying regular prices if you place more than 20 bids + postage and packaging?

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    #2
    Aaron Hallett
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 14:28:47 (permalink)
    Can i also say, if something 'sells' for £1.20 that equates to £120.... the winning bidder pays only for their bids so the unlucky bids are pocketed.

    nice little earner

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    #3
    mackenzie_uk
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 14:37:29 (permalink)
    The bid can also be 'bought' with 60p. A £1 bid is only if done by text.

    But like IB said, it's still a good little money making scheme.

    Let's hope there aren't too many BBers out there that want cheap supplements and will rise the bid against you


    "Why Climb a Mountain, when you can become one..."

    #4
    poundbid
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 14:40:51 (permalink)
    Hi,

    Bids cost from 60p and you only need to be the last bidder to win.  Its not necessary to repeatedly bid to win an auction.  Also some auctions only take a few bids - they don't all start at 1p.

    If you look at the past history of the recent auctions then the majority (we estimate 70%) are dramatically under the price of the product, even if you did bid consistently to win. 

    For example, Muscletech Nitro-Tech Hardcore 1800g went recently for only 11p.

    The low cost auction model is regularly used in many other areas but not been seen (we think) in sports supplements before.  Its a completely open and transparent way of auctioning products which allows everybody to partake in the auction and keep the price extremely low for the winner.

    You are completely correct about 'hoping for a dead auction' as some of the auctions in the day are very quiet and the products go for under a pound.  Others in the evening go for a little more and make up for the really cheap ones earlier in the day.

    You need to keep an eye on the auctions!

    Cheers,

    Oliver


    #5
    poundbid
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 14:43:48 (permalink)
    You can see the past auction prices here:

    http://poundbid.com/pub/previous.php

    And it only takes one bid to get a bargain (you get 5 free on registering at the moment so you've got nothing to lose).

    Oliver.

    post edited by poundbid - 2009/07/20 14:45:38
    #6
    Daniel.M
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 14:48:53 (permalink)
    are the free bids automatically added to your account once you register?

    it seems like a good idea to be fair, lets see how much each item goes for though first.
    #7
    poundbid
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 15:00:10 (permalink)
    Yes they are.  You're under no obligation to buy more.. you can use the free ones to try out, and win, the auctions.

    Many people like to try the SMS bidding afterwards because although its more expensive per bid, there's no need to buy bids to try it out.  Unfortunately it is more expensive but its sometimes more convenient to start.

    We are practically giving the products away at the moment but at this stage that's OK..  as I mentioned before, 70% of auctions lose money and give great bargains for the people who take part.. the other 30% cover the cost of the losing ones.



    #8
    Aaron Hallett
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 15:01:09 (permalink)
    poundbid

    Hi,

    Bids cost from 60p and you only need to be the last bidder to win.  Its not necessary to repeatedly bid to win an auction.  Also some auctions only take a few bids - they don't all start at 1p.

     
    When someone bids on an auction it adds up to one minute to the closing time. This is to make the auctions fair and allow everyone time to make their last bid.

     
    But with this extended deadline, you effectively drag out the auction by bidding giving more chances of other people out bidding you.
    So yes, you do need to repeatedly bid to win an auction
    If you are the 15th lowest bidder you do not win so to be the highest bidder you have to keep out bidding other people.

    If you look at the past history of the recent auctions then the majority (we estimate 70%) are dramatically under the price of the product, even if you did bid consistently to win. 

     
    Estimated figures are never a good way forward if you are trying to win people over. Is it 70% or not?
    Ever hear the joke that 99% of statistics are made up on the spot
     
    If you win with a low number of bids its a bargain agreed but seems a lot of hard work to win an auction? With ebay you throw on your highest bid, forget about it and come back in a day or two and see how you are doing.
    Deadlines are final and you dont give other people a chance to out bid you in this weird system of fairness which is just another money spinner for you?

    For example, Muscletech Nitro-Tech Hardcore 1800g went recently for only 11p.

     
    BSN True-Mass protein matrix went for 93p, how much of that '93p' was mobile bids and internet bids? Is there a breakdown?
    93p at 100% internet bids is still £55.80, the size of the tub is not stated so i am taking it as being the 2.5kg?
     
    The RRP's are also off the shelf prices you'd find in GNC or other supplement shops.
     
    Inwhich you can buy the same BSN tub for under £40 online with free pnp in a single click.
     
    post edited by Incredible Bulk - 2009/07/20 15:02:55

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    #9
    poundbid
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 15:13:12 (permalink)
    Hi,

    Some good points..  but checking the records the BSN True Mass started at 70p and went for 93p so even if it was only yourself and one other person it would still have been a bargain.. you could only have used a maximum of 12 bids to win it which even if you chose to use your mobile, you'd get the tub for £12.  Much less if you bought bids first.

    The extended deadline is to allow others to get a chance to place a bid afterwards.  Without that it would be unfair.  Who would bid at all except for in the last 3 seconds?  Everyone would bid at the end and it would be a game of chance.

    I apologise for not having more accurate figures.  70% is the best we can do at the moment.
    #10
    Aaron Hallett
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 15:25:26 (permalink)
    how do you make your money then if '70%' of your auctions are with a loss (even though you use RRPS price as a benchmark).

    Is it right to suggest that the purchase of bids themselves is the cash cow for this operation as without them you cannot bid, and who would only buy one bid at a time?

    The offset between the loss made on the supplements is bridged by X amount of people buying bids?
     
    Why is it unfair to bid at the last moment?
    An auction is never fair as the last bidder wins before the deadline.... thats why auctions can grab you a bargain on ebay.
    Your sole purpose is profit, so this is a profitable move to extend the auction deadline as it allows more bids which reduces the offset as mentioned above.

    I wish you all the best with it, it does sound on paper something that can work in the customers favour at 3am on a monday morning

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    #11
    mackenzie_uk
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 15:32:29 (permalink)
    Incredible Bulk

    how do you make your money then if '70%' of your auctions are with a loss (even though you use RRPS price as a benchmark).

    Is it right to suggest that the purchase of bids themselves is the cash cow for this operation as without them you cannot bid, and who would only buy one bid at a time?

    The offset between the loss made on the supplements is bridged by X amount of people buying bids?
     
    Why is it unfair to bid at the last moment?
    An auction is never fair as the last bidder wins before the deadline.... thats why auctions can grab you a bargain on ebay.
    Your sole purpose is profit, so this is a profitable move to extend the auction deadline as it allows more bids which reduces the offset as mentioned above.

    I wish you all the best with it, it does sound on paper something that can work in the customers favour at 3am on a monday morning


    Lol I'll be watching these times closely over the next few days


    "Why Climb a Mountain, when you can become one..."

    #12
    poundbid
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 15:34:38 (permalink)
    Hi,

    Its true that its important to charge a small amount for a bid. Otherwise it wouldn't be possible to deliver the products at such a low price.

    I don't think its unfair to bid at the last moment.. quite the opposite as thats when the auction usually gets going.  What would be unfair would be if there was no 'right to reply' and people wanted to bid but couldn't because they didn't press the bid button quick enough.  As in a normal auction, the auctioneer always asks around if there are any more bids to be made.  You'd never see the hammer brought down without the opportunity for someone to make a last bid.

    Thanks for your kind wishes.. you can see from the auctions that the number of bids doesnt cover the item prices so if you don't take part now you'll miss out on some bargains.. 

    Don't wait for Monday morning at 3am.  :-)



    #13
    Sheeps_Clothing
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 15:37:28 (permalink)
    Not sure how this is going to work as a business model, but good luck with it.
    #14
    poundbid
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/20 15:52:26 (permalink)
    Well, lots of supplement companies spend massive amounts of promoting their products and general marketing... obviously we don't have a budget for that.  What we would spend if we were a normal company like the others advertising here has to go to subsidize the products.

    We're hoping that the ultra low prices spread the word and we won't be disadvantaged against those with big budgets. 

    I think you'd agree - better to have a place where you can get a bargain now and again and, on balance, save money, rather than a big firm that uses glossy advertising and big budgets but has to charge huge prices in return to get their money back.


    #15
    Tony Barnes
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/21 08:25:38 (permalink)
    I've seen these set ups before in other areas. Can be a very good earner provided the products are added in at a sensible rate dependant on the traffic and membership rates.

    Other sites I saw were all electronics based, typical returns for them was 3-7x the actual normal sale price on most items. Genius if you ask me.

    IB - have to say it's pretty transparent as to what is happening. If you don't buy any bids, then you have not lost out. If you go ahead and buy bids, you should really of already gotten to grasps with how it works, and so be happy to continue. Kinda like paying for a lotto ticket

    Good luck, though honestly not sure if there's enough of a market for you.
    #16
    poundbid
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/21 09:28:51 (permalink)
    Auction sale update:

    USN Muscle Fuel STS 5000g  RRP £68.99
    Sold for £1.20

    PVL Mutant Mass 6800g RRP £74.99
    Sold for 97p

    BSN NO-Xplode RRP £66.99
    Sold for 36p

    Reflex Tri-Matrix Evolution 1400g RRP £49.99
    Sold for 48p

    Sci-MX Omni-MX 1680g RRP £47.99
    Sold for 69p

    MET-Rx Hardcore Tribulus Terrestris RRP £14.99
    Sold for 73p

    Reflex Creapure Creatine 500g RRP £20.99
    Sold for 42p

    BSN True-Mass protein matrix RRP £69.99
    Sold for 93p
      
    Reflex Instant Whey 909g RRP £23.49
    Sold for 23p

    Sci-MX Creatine EE-MX 120 ct RRP £34.99
    Sold for 25p

    http://poundbid.com
    #17
    DieselD
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/21 17:35:03 (permalink)
    This bloke appears to have been open and honest about the way his auction runs, obviously not clever to try and catch him out.
     
    ON Whey for 98p, even with a cost of £1 only means I would have spent £1.98 to buy it. Even though the company will have made (60p starting price) £39.
     
    For me that looks like a win/win.

    Of course with the auctions you lose you will be spending £1 each time, which is not a win, but thats the risk of auction.
    #18
    BigPete
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/21 17:55:48 (permalink)
    DieselD

    This bloke appears to have been open and honest about the way his auction runs, obviously not clever to try and catch him out.
     
    ON Whey for 98p, even with a cost of £1 only means I would have spent £1.98 to buy it. Even though the company will have made (60p starting price) £39.
     
    For me that looks like a win/win.

    Of course with the auctions you lose you will be spending £1 each time, which is not a win, but thats the risk of auction.



    The chances of winning an auction with one bid is quite low.  That's the catch.  I believe these types of auctions work because people aren't willing to give up the money they've 'invested' in bids.
    #19
    Greyphantom
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    Re:PoundBid.com - all your favourite supplements from under £1 2009/07/27 13:15:37 (permalink)
    DieselD
    Of course with the auctions you lose you will be spending £1 each time, which is not a win, but thats the risk of auction.


    The risk of an auction is that you will not win the thing you are bidding for... not that you will lose money bidding for something... losing money gambling that the price will not rise or fall is called the stock market... :D
    #20
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