21 December 2011

What is PisoBid and how does it work?

PisoBid is the #1 entertainment shopping site in the Philippines and is the country’s fastest growing website with over 10 million page views, 75 million post views and 188,000 Facebook fans. Consumers can save over 99% on brand new and luxury items such as gadgets, television sets, game consoles, designer brand items, beauty and fitness products, vacation packages and more. With its Facebook fans growing by the hundreds every day, it continues to feature incredible deals where more than 2,300 members have already won.

Auctions at PisoBid can be found at the main page www.pisobid.com.

The price of the auction item starts at 1 peso ₱1.00.

For standard auctions, the price goes up by one centavo (₱0.01) for each bid. Some auctions may require 2 bids or more for each click. The second item below (iPhone 4S), for example, requires 2 bids, whereas the first one requires only 1 bid

  • Products to be auctioned are loaded on the main page ahead of time and the countdown timer indicates when these auctions are about to end. In the example above, auction for both items are ending in 02:34:12 (hours: minutes: seconds).
  • When the countdown timer reaches 00:00:00, bidding officially starts and the timer will now indicate the number of seconds that bidders must place their bids for the chance to become the last bidder and thus, the winner.
  • In the above examples, auctions are set with 10-second timers. The timer varies with each item and may have 8 seconds, 12 seconds, 15 seconds, etc. This timer resets every time a user bids to allow other members to place their bids (as compared to a traditional offline auction where the host announces: “Going Once, Going Twice… Sold!”).
  • If you’re the last bidder when the timer runs out, and nobody else places a bid after you, you win the auction!