Strategy Or Luck, Dears? @ Sold.sg

Strategy Or Luck, Dears? @ Sold.sg

• 18 August 2011

Wanna get your hands on some new gadgets in town or something you have been eyeing on for a long time, yet you don't have enough $ for it? Fret not! Because, if you have the time, patience, luck and a little strategy, here's an alternative way to get the items you eye-candied!

Presenting...

Sold.sg is an exciting, innovative and reliable entertainment shopping website offering new products! As the premier lifestyle site, you will find the hottest tech gadgets, hotel stays, travel deals and female must-haves to complement your daily living. It allows users the chance to buy these items at great discounts via a unique auction model.

So simply put, Sold.sg is a Pay-to-Bid site which has been in good business for more than a year (Do you know they just celebrated their 1st anniversary last July!). 1 year into launch it has surpassed all of it's competitors to emerge as the industry's market leader with more than 34,000 joining in the fun. As of August 2011, it has done approx 650 product auctions. *gasps*

FACT TO BE TOLD: They are confident we are the largest pay-to-bid auction site in Singapore!

Upon entering the site, one has to pit your wit, plan your strategy, and have fun bidding for products you love at huge discounts! Sold.sg brings you the latest and most sought after products to complete your luxurious lifestyle. The team meticulously selects products with you in mind and trust me, the products comes from reliable suppliers & they are definitely new high quality products. I saw it for myself. TSK. Better believe me! hehehe (:

Last Thursday, I was invited to join the site visit at their cozy office @Mohamed Sultan Road, to know more about the business as well as meet up with the wonderful team behind this awesome business.

I find that the people there are very very interesting & friendly! - I got to meet the founders as well. I could tell that they are here for the long run, as they are focused and committed to make this a sustainable business. To prove my point, it's a fact that they quit our full time comfortable paying job to start this business.

@ the office!

The bloggers & the Bosses, Angeline & Qiu Yan

Being good hosts, we were offered pretty little tasty cupcakes as well ^^

Yes, fyi, they are a REAL team made up of REAL people, the multi-talented young people full of zest, are NOT running any funny business site out there attempting to cheat people's time & money... Ohhh & IF you are just wondering like hmmm 'Since they are the owners, why not they bid for it too?' Let me clarify... They DO NOT engage bots or insiders to bid. Also, they are very very very (if I said 3 times, it's really a very impt point okay!) strict that no employees & immediate family members of Sold.sg are allowed to participate (All employees have to sign a contract stating so). BUT, actually... If you think of it, there's no need for them to bid... I mean, it's quite time & energy consuming. If they are part of the business team or related to the team members, then they can simply buy the products directly from the suppliers for themselves, when they are buying for the business, right!?!

and fyi, ALL the products you see on their website are actual products. Authentic, 100% brand new, directly from their suppliers. Thus, you can definitely be ensured that all the products you see placed on the site are carefully selected to ensure quality and high standards. Don't worry, no gimmicks!

Yup, so my official slot of 6-7pm started...

Angeline, started by introducing us to their website & crash course us how to go about placing our bids!




The items on site... (for real)

Ah, I was so tempted to reach my hands out and grab anyone of them placed right at the corner of the office. hahaha!


Yes, it's for real!

Although I obviously couldn't do so, it made me happy enough to know that we, bloggers, get 50 Free Tokens, courtesy from the Sold.sg team, to kick start our auction experience on the site. YAY! *jumps around*

Shall share with you readers about this site!
What better to demostrate than to write a long chunk of words, right.

So to start the ball rolling, since I've got free credits, I shall get done to some business, literally.

*Disclaimer: Please sign up for an account on the site itself first, before you get access to everything else.

Assuming you are signed up already... here are the things you NEED TO KNOW & here's how I can play my part to help ya, hopefully (:

Firstly, as a bider, know that before biding, you have to buy tokens.
http://www.sold.sg/member

Please select a Token Pack below and click on "Buy Tokens".

Token Pack 300 S$225.00

Token Pack 100 S$75.00

Token Pack 50 S$37.50

Token Pack 30 S$22.50

Token Pack 20 S$15.00

After that, you mentally have to know that the $ you paid for the tokens, are your FIXED COST. Meaning, regardless of the outcome of the auction, you have already paid for the tokens & there is no such thing as refunds, even if you didn't manage to win that particular bid. You just got to try a little harder for the next bid! & pray, ladyluck is on your side!

Secondly, know what auctions are available.

I decided to try my luck on 'Beginner Auctions', as it supposed to be a high chance auction. It is limited to users who have never won an auction (including "Free" Token Pack Auctions); leveling the playing field for new users. Beginner auctions are marked with the L-plate.

Once you have won an auction (including "Free" Token Pack Auctions), you will no longer be allowed to participate in Beginner Auctions.

Spot my favourite product of the lot?

Okay, let's try our luckkk!

Us getting ohso excited about bidding!

Us being a little insane.

(Acting) Cause we didn't win the bid :/

My own Experience of bidding:

I feel that it's a little like the stock market, a simpler version only! You see, likewise, I have to keep watch of the screen as the auctions & bids are very volatile *gasps* It gets my heart pumping everytime I see the countdown happening. What annoys me at times is the fact that when it's a few seconds left, you thought that you are gonna win it so you place a bid, BUT... there are other bidders around and the clock turns back up to a few minutes instead. Woah... It's like you are so close yet so far :/

Here's the catch!

The similarity of the 4 types of auctions is that you technically have to be on the screen at any point of time, so that you can 'fight' with your opponents for that item you want. Now, with Auto Bider (http://www.sold.sg/guide/about_auto_bidder), you can simply leave your computer screen on & the device will bid on your behalf by itself automatically. You don't have to worry even if yo are not right infront of a screen right now.

Don't forget, there's a lower & an upper limit. It increases your chances of winning but you surely would use up more tokens.

____________________________________________________________________

Knowing how to use the site is not as important already, especially, when it comes to winning an entire auction. Smartness also has to come into play with luck & some strategy.

Some Strategies (Crash course) to bear in mind:

1) Bid at the last second.

2) Know your opponents

3) Have LOTS & LOTS of Patience

4) Strong Eye Power?

5) Bid at the last second, literally
It's a game of fastest fingers + a tad of luck!

Do check out the 'Tips & Strategies' section, as well as the FAQs @ http://www.sold.sg/guide/faq_01 because I'm sure you guys have lots of questions to ask!