Penny Auction Launches New VIB Auctions
Online auction site HappyBidDay announce the release of Very Important Bidder Auctions
NEWARK, Del., Dec. 20, 2012 /PRNewswire-iReach/ -- Online auction website, HappyBidDay is introducing a new auction feature this week. The new feature is an initiative designed to add varied auction options to their pay-to-play format.
HappyBidDay announced that beginning December 10, they will roll out a new auction style that promotes early bidding and prevents latecomers from jumping in auctions.
The new auction style features preset price points called "VIB Prices." The VIB Auctions (named for "Very Important Bidders") work the same way as the company's traditional penny auctions with one exception. Each bid placed increases the final price by $0.01 as usual, until the preset VIB Price is met. After that, bidding continues, but is open exclusively to the VIBs, that is, the Very Important Bidders already in the auction. In other words, once the VIB Price is met, no new bidders can participate.
VIB Auctions, along with most of the company's 2012 development projects, come as a direct result of customer feedback. The company's continued growth trend has naturally resulted in increased competition, a factor that likely sparked the requests from customers. Instead of looking at it a like a challenge, however, HappyBidDay welcomes this kind of feedback.
"The concept for VIBs comes from our customers really," says company CEO, Lisa Dee. "We heard from our users that this is an option they really wanted to see on the site. If they see room for improvement and site additions and we have the power to provide them, you can guarantee we're going to. Our primary goal is to always keep the user experience enjoyable."
Dee went on to say that the new feature aims to keep savings high and competition low, something the company expects will be appealing to users of all skill levels.
Though the new HappyBidDay VIB feature was launched just this week, it's already seen great praise from its user-base.
HappyBidDay is a bid auction site offering brand new, brand name electronics, gift cards, computers, game consoles, jewelry, home goods and more that regularly sell for 60%-90% below retail with no reserve. For additional information on HappyBidDay penny auctions, visit www.happybidday.com and www.facebook.com/happybidday.
Media Contact: Rick Maggio HappyBidDay, 302.444.8410 x7013, firstname.lastname@example.org
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