LetsBuyIt Blog

After having previously reported (blog post here) about Telebid we now read in the FAZ that apparently Telebid has not only expanded to the UK and Spain but is also planning to open up in the US, Korea, Japan and China and currently has a daily subscription rate of 3,000 new members per day! We had also discussed the business model previously in the blog and we know now that apparently Telebid is making a daily turnover of almost 30 000 to 35 000 Euros per day, according to FAZ!!! Judge for yourself.

Concerning the recent eBay sale of Yieeha, a Social Community Shopping Portal, the new owner has been made know now on their blog and is the Net-Line Onlinedienste GmbH from Heilbronn. After quickly checking out their website the company turns out to be a live-erotic-cam provider, which gives the Yieeha slogan “Social winning” quite a new twist! It is good to know the user info in safe hands.

TeleBid, basically, works like Ebay in the sense that users bid for products and the highest bidder wins the auction. On this website, however, users can follow life auctions in real-time. This means a clock is displayed below every product counting minutes and seconds, and users can bid until 1 second before the end of the auction. Once a bid is made 20 seconds are added to the clock giving it the feel of a life auction.

Now the big difference to Ebay is that on TeleBid, every bid costs 0.50€ and has to be pre-purchased. Additionally to making single bids manually, users can set up a BidButler to make bids for them when they do not have time to bid themselves. The BidButler can be set up to only bid between a pre-determined price range and users can also select how many bids the program can make; keeping in mind that every bid is charged with 0.50€. To bid strategically, however, TeleBid advises its users to use a combination of manual single bids and the BidButler.

Another difference to Ebay and other auctioning websites is that users can bid via telephone. The 0.50€ per bid will then be added to the phone bill.

Also, users can only bid on products set up for auction by TeleBid. Users cannot sell their own products.