I am looking to set up a Unique Bid Wins – Reverse Auction System where people can buy and sell items, at a very cheap price.
Sellers add their items using a easy to use system with pictures, for a small charge depending on the value and style, this goes to administration. Then bidders pay a small fee defined by the seller to place the lowest bid that they think the item will go for, if this is unique then they win the item for that lowest unique price.
Seller can define the number of bids needed before the bidding ends (to cover the value and move into profit), or a specific date/time when it ends.
I have looked a lot into this and at the moment there doesnt seem any striking sites that offer this exact service, for buyers and sellers. Its very very cheap for buyers and addictive, at the same time sellers will always make a profit based on making the total amount of bids higher than the value of the acutal product.
I have drawn up a small basic at the moment list of requirements for the system and they are as follows:
• Buyers and sellers
• Buyers register for free
• Item listing process for sellers, with added options BOLD, Featured Items, Highlights, HTML, Customizable Styles, with editable listing fee’s which go to the administrator.
• Linked to Paypal, and other online banking institutes
• Member’s bids are kept hidden until the end of the auction process. When the auction is over, all bids are tallied and the winner calculated – letting the bidders see the individual bids after the auction ends.
• Secure, encrypted
• Bidding will end at a desired time/date, set by the seller OR at the point where XX amount of bids have been made on the item.
• A fee for buyers to make their lowest bid : £[url removed, login to view] set by the seller, with the ability for buyers to make up to 5 bids at a time
• Invoice system
• Easy layout, user friendly
• Categories of items
• TOP items
• Items ending soon
• MY ACCOUNT / PAGE to view current buyers and sellers bids, items selling and stats
• Feedback ratings and comments
• Chat feature (?)
• SMS bidding (?)
• Stats – who’s online, outstanding balances, biggest sellers / buyers
• Full member editing – Banning, deleting, editing
• Editable colours and style via HTML for on front page
Please contact me for any more details, or to discuss producing such a system