rAUCTION is an innovative application that hosts and runs SMS based
reverse auctions. So what is a reverse auction?
An auction process conducted via mobile phone where the winner
places the lowest unique bid, ie: the lowest unique bid wins the
auction."In a reverse auction, you can't just enter the lowest bid and win;
otherwise everyone would simply bid 1p. What you must do is enter
the lowest "unique" bid. Say 90 people bid 1p for the auction item,
50 bid 2p and 30 bid 3p and so on. But say only one person bids 4p,
that bidder is the winner."
Revenue is generated by premium SMS messaging where bidders are
charged a fee to place their bid. Online billing statistics are
provided with this service.
Contact us now further information on this service.
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