Some facts about https://www.dealite.in auction website:-
NOTE: THESE ARE MY PERSONAL VIEWS BASED ON MY EXPERIENCE. MY MOTIVE TO POST MY VIEWS IS ONLY TO SHARE INFORMATION WITH ALL OF YOU. I DONOT ENTICE ANYONE TO PARTICIPATE OR NOT TO PARTICIPATE IN BIDDING.
On first sight of web site, Auction seem very attractive as the discounts shown on the previous auctions are huge. I have experienced the same. So I want to share my experience with you:-
First of all let me tell you about bidding procedure by resembling it with and auction in your city.
Suppose that you are going to an auction hall and there you want to participate in auction of a wireless keyboard mouse (combo). There were 7 seats for auction of this product. Auction manager tell you that you will have to deposit 11 tokens in order to reserve one seat for the bidding. So you go to token counter and ask for tokens. Token counter attendant told you that there are pack of tokens starting from 10, 20, 30 and so on. He also tell you that you should buy enough tokens so that you donot run out of tokens during auction process. So you decide to buy pack of 20 tokens and pay Rs 400.00 as the cost of tokens. One token cost is Rs 20.00. Now you go to auction manager and deposit 11 tokens to participate for auction of particular product. Auction manager receives 11 tokens and confirm your seat and also give you 11 free tokens. He told you that you can use these free tokens for this particular product auction. So you were left with 9 tokens + 11 Free tokens. As the auction started all the 7 participants started bidding. Auction manager starts counting down from 3 to 1. Every time one participant bid for product the product cost rise by Rs 1.00 and participant has to deposit one token for one bid. Auction manager again starts counting from 3 to 1 and this process goes on and on. Till the one bidder is won. Note: make sure that you out beat other participants. And you should not run out of tokens, other wise you will be out of auction.
Now I will tell you about actual auction on the website with same example:- Consider One Token as one Bid.
I bid for wireless keyboard and mouse (combo). It was having 7 seats. In order to book one seat I had to buy 11 bids. Only then I was eligible to participate in bidding. I purchased a pack of 20 Bids. I paid Rs. 400 online, as one bid costs Rs20. Now I was having 20 bids in my hand. Bidding started at 04:00PM I started bidding along with other participants. With each bid price of Keyboard and Mouse keep on increasing by Rs 1.00 each time. Bidding is same like auctions you might have watched in movies. At the start of bidding timer starts from 10:00 minutes and it counts down. When the counter is about to end, any bids placed increases the counter by around 15 seconds. And this process goes on and on. In the race of bidding some participants spent more then 50 bids which cost them Rs 1000.
I witnessed that during the auction of wireless keyboard and mouse (combo). Total 300 bids were placed. Which means web site fetched Rs 20 x 300= Rs 6000.00. I also lost my Rs 400 for 20 bids I purchased.
Now Some Observations from the above experience.
At the start bidding web site sold 7 seats. Which fetch them Rs 1540.00 (11 bids/seat) as each bid costs Rs 20.
In this auction the participant who won this auction placed 60 bids. I think that this bid costs him Rs 1200.00 plus auctioned price of combo plus shipping fee.
On the website in the Winners column, they are showing that combo pack auctioned for Rs 300.00. Which sounds like winner has paid only Rs 300.00
In my opinion BID is profitable if you spent only few bids and won.
There is a positive point in this auction :
In case you lost 20 bids which costs you Rs 400.00. Then web site gives you option to “BUY it Now”. If you want to buy that product they will give you discount of price of same amount as you have spent.