{"id":411,"date":"2010-08-24T19:41:46","date_gmt":"2010-08-24T12:41:46","guid":{"rendered":"https:\/\/blog.4amexpat.com\/?p=411"},"modified":"2010-08-24T19:41:46","modified_gmt":"2010-08-24T12:41:46","slug":"25satang-com-pay-to-bid-auctions","status":"publish","type":"post","link":"https:\/\/blog.4amexpat.com\/25satang-com-pay-to-bid-auctions\/","title":{"rendered":"25Satang.com – Pay to bid auctions"},"content":{"rendered":"

\"\"<\/a>This is a new one.\u00a0 The Thai auction site 25Satang.com<\/a><\/strong> launched earlier this year, lets you buy bids by the pack, like 10 bids for 90 Baht or 700 Bids for 4,800 Baht.\u00a0 The average price per bid comes out to 7 baht.\u00a0 The bid increment? You guessed it, 25 satang.\u00a0 This means to get to the bid price of 10 baht, there are 40 bids or 280 Baht worth of bids.\u00a0 If an item sells for a winning bid of 10 baht, and you are lucky enough to come in at the last minute with the winning bid, you pay for you bid (7 baht) and the price of the item i.e. 17 Baht.\u00a0 If you lost the auction, but bid 20 times, you paid 140 Baht.<\/p>\n

Two actual examples from the company site:<\/p>\n

\"\"<\/a><\/p>\n

Auction: Samsung 32″ LCD TV. Retail price: 13,990.\u00a0 chai1974 was the winner with 202 bids, and a final auction price of 214.75.\u00a0 chai1974 paid a total of 1,679 Baht to for this brand new TV.\u00a0 Not bad.\u00a0 The company pulled in about 6,000 baht worth of bids.\u00a0 Likely a bit of a loss for them.<\/p>\n

\"\"<\/a><\/p>\n

Auction: Iphone 3GS\u00a0 Retail price: 27,948 baht.\u00a0 chai1974 was the winner (again) with 3,855 bids, and final auction price of 5395.25 baht.\u00a0 chai1974 paid a total of about 33,344 baht for this brand new iPhone. Whoa. And how did the company do? They pocketed around 151,000 baht!<\/strong><\/p>\n

It’s and interesting concept, but lets see how long it flys.\u00a0 With every bidder but the winner losing money on each auction, not sure how long it will be till people get the hang of it.\u00a0 It’s got a great hook though, once you’ve blown 100 Baht in bids, you can hardly stop.<\/p>\n","protected":false},"excerpt":{"rendered":"

This is a new one.\u00a0 The Thai auction site 25Satang.com launched earlier this year, lets you buy bids by the pack, like 10 bids for 90 Baht or 700 Bids for 4,800 Baht.\u00a0 The average price per bid comes out to 7 baht.\u00a0 The bid increment? You guessed it, 25 satang.\u00a0 This means to get […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[59],"tags":[19,35],"yoast_head":"\n25Satang.com - Pay to bid auctions - 4amExpat.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.4amexpat.com\/25satang-com-pay-to-bid-auctions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"25Satang.com - Pay to bid auctions - 4amExpat.com\" \/>\n<meta property=\"og:description\" content=\"This is a new one.\u00a0 The Thai auction site 25Satang.com launched earlier this year, lets you buy bids by the pack, like 10 bids for 90 Baht or 700 Bids for 4,800 Baht.\u00a0 The average price per bid comes out to 7 baht.\u00a0 The bid increment? 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