Ebids Online Auctions Launched In Canada

Online, June 24, 2011 (Newswire.com) - A local start-up is looking to transform the negative image of too-cheap-to-be-true penny auctions, and change the way people shop online.eBids.ca sells brand new, factory-sealed products in its timed online auctions, which generally sell for 80%-90% below their retail price. To participate, signup for free account. Each bid received adds 10 seconds to the timer and 1c to the price. The last person to bid on the item before the timer runs out wins. eBids.ca team explains that since the site was launched, it has received lot of response from Canadian customers. However, technical issues led to the creators revisiting the structure behind the bidding process.

"We were really stretched as a young start-up, and we even tried to launch internationally with just three staff members," explains eBids.ca team."Canada offers an excellent opportunity for eBids, because it allows for bidding online 24/7" says eBids.ca rep, adding that eBids.ca now has an "excellent" system in place. According to John, the concept of penny auctions first arose online in 2005.

"To me, the prospect of getting 90% off a product is really appealing."I also like this model because in penny auctions it's the most strategic and most persistent bidders that win. eBids.ca has a greater deal of legitimacy than other similar sites," adds John, explaining that the company has implemented new measures to ensure transparency. eBids's latest innovation is a new function that makes auctions embeddable on partner Web sites.

"The idea of making eBids.ca auctions embeddable came from thinking about other successful Web sites such as YouTube," says John. "A major part of YouTube's success has been that ability to embed a YouTube video on any site or blog across the Web. We are partnering with many popular sites to embed eBids.ca auctions on their site. So now when someone is browsing a particular album, they will see a fully functional auction on the left hand panel.

"I think it's a fun way to add the excitement of a penny auction to any Web site." eBids.ca has primarily been auctioning Apple products such as the iPod Touch, iPads and the iPod nano. Other items have included a flight vouchers and many popular electronics items. According to the eBids.ca Facebook page, a user won an LED TV on Sunday this week for just $39.72 John says eBids.ca is looking into broadening its range of products to include items such as event tickets for the upcoming Canadian events. According to John, another key difference between eBids.ca and other penny auctions is its 'buy it now' feature, which allows users to put the money spent on bidding towards buying the product up for auction at retail price. "So, for example, if you spend $30 bidding on an auction that you don't win, you can simply opt to 'buy it now' and you will get $30 off the retail price.

"You never lose - we're pushing it as an alternative to shopping, because if you're bidding for something you want to buy anyway, best case you'll win it at a huge discount, and worst case you get it at retail price." but you always win.