Featured in Ventureburn , these 2 entrepreneurs & founders of the new and exciting platform called LiveBids Auctions has wowed the South African online community. This start-up company will be competing against online giants such as bidorbuy and Ebay…. and its about time! We are extremely excited to be writing about this unique new website called LiveBids Auctions.
After much anticipation, in January 2015 LiveBids Auctions was launched in South Africa. LiveBids offers a unique online buying and selling platform that incorporates different aspects of various social media.
This means that you can choose your interests, follow your friends, search hundreds of products while buying items for a fraction of the cost and selling them to make real profit.
LiveBids aims to help buyers and sellers fully connect in trade with seamless transactions. It is an online marketplace that is simple, interactive and social. It allows users to experience a real-time marketplace, buy products lower than the market value and socially follow buyers and sellers.
Two formats are used, namely online auctions and pay-per-bid. The first of these is the traditional online auction model, where items are sold to the highest bidder. The second is a pay-per-bid model, where would-be buyers purchase credits to bid on items. These credits go to the seller, which is how it is possible to purchase big-ticket items for nominal amounts.
“Pay-per-bid is going to empower online sellers and those looking to make substantial profits,” argues Vollmer. “The model relies on the last bid made when the time expires. Should there be bidding in the closing moments, the process is extended by 15 seconds until there are no further bids. The sellers receive the pool for every bid made. Example R1 (100 bids) would equal R300.” This feature goes alongside the traditional online auction model where items are sold to the highest bidder.” – Ventureburn
The founders of LiveBids, Rory Vollmer and Paul Hoft, explain that “the idea was to create an online marketplace that was simple, interactive and social, helping buyers and sellers connect and trade. The marketplace is completely people driven”.
The one line that really captured the essence of what these two great minds are trying to achieve is that they “want to be part of liberating the entire community – whether you are rich or poor”
Visit their website to empower yourself by becoming an online buyer and seller today!
WIN WIN WIN : LiveBids are running a competition to win R500. All you have to do is visit their facebook page for competition deets!
If you would like further information regarding LiveBids Auctions, or you would like to schedule an interview, please contact:
Rory Vollmer, Co-Founder and Head of Marketing
Phone: (+44) 7585954017
Read about how these entrepreneurs started here
XOXO – Jee