I found a online auction site which I think deserve mentioning as it is probably the best/smartest moneymaking idea I have ever seen. I do not know if this is normal for online auctions, but it is such a good idea.
The site is called Smokoo and what they do is this:
There is a countdown clock. You pay 5 South African Rand for a bid option. Every time you bid the price goes up 1 cent or 5 cents and a few seconds is added to the clock. When the clock runs out the item is sold and you "win" the bid.
Now what happens is that each product is sold really cheaply. For example an Ipad 64 gig was sold for R510.25, which is amazing. But behind the scenes each bid brought in R5 for the action house and therefore R 51 025, 00 !!! for an R11 000 Ipad.
Therefore Capitalism is awesome!
About Me
- Barend Lutz
- Cape Town, South Africa
- I am currently employed as a political risk analyst and digital media manager at the British public company, red24, a leading global crisis management assistance company. In 2013 I graduated cum laude from the University of Stellenbosch with a master’s degree in International Studies. During my studies, I was a member of the MIH Media Lab, measuring public sentiment on democracy through Twitter. As part of my university studies, I took part in academic exchanges to the Sciences-Po grande école in Paris and the University of Hong Kong. Prior to my master’s degree, I finished my bachelor’s degree in Value and Policy Studies in 2010. I see myself as a global citizen.
