Thursday, May 19, 2011

BidRivals Introduces Collection Gift Cards

BidRivals is a big global penny auction. The best aspect of BidRivals is that it is operated in several countries, so if you live in Finland or India, you can use BidRivals. In contrast, Quibids is operated only in the US.

BidRivals has introduced Collection gift cards that have been present for some time now. So what are BidRivals collection gift cards? Well, they are gift cards that give a discount towards the actual product. This is in contrast to the regular gift cards at penny auctions like Quibids.

So how do BidRivals collection gift cards work? Well, there are several high-end items like iPads, Vespa scooter, Macbooks etc. on BidRivals and these collection gift cards are specific to these items. They will have a value, say $10. So when you win a $10 collection gift card of an iPad, what it means is that you can now purchase your iPad at a $10 discount. However, for this to work, the total value of all the collection gift cards you win at BidRivals must be more than 10% of the retail value of the product.

As of now, collection gift cards at BidRivals are not very competitive and I see them being sold out for just a few cents. However, the catch is easy to figure out - if many people are collecting these gift cards, they will soon be pitted against one another and drive up the price. Someone who has collected a few of these gift cards will be forced to keep winning them because if he doesn't make it to 10%, then he has just wasted all the previous wins. Nevertheless, if you see the closed auctions at BidRivals, collection gift cards are selling for a very cheap value - most under 10 cents. So if you have a particular item that you are looking for, you might consider this option.

Let me know your thoughts on this new idea.

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