Multiple market auctions on QuiBids
Multiple market auction formats have been implemented on QuiBids since April 24, 2012. This is a new feature in its auctions allowing those interested, to participate in auctions with individuals from other markets. When a customer enters the auction page for a particular item, they are able to see if that auction is across multiple markets by looking at the auction ID bar and seeing if it is marked with those market icons:
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Now, the option is left up to the customer as no one has to participate in these multiple market auctions. Multiple market auctions came about as a way to offer more auctions and more product variety across all markets. Since QuiBids launched back in October of 2009, and upon it going international back in July of 2011, each market had its own pool of auctions. With this said, some of QuiBids vendors don’t distribute worldwide, therefore the products offered in multiple market auctions may not be the exact same. We will offer similar but distinct prizes in different countries (e.g. a $10 Target gift card in the US may read as a $9.65 Amazon gift card in Australia).
In working with its product suppliers, the ability to share auctions across all markets, essentially enables QuiBids to allow just that, more product variety. And to reassure those bidding buffs, due to the increase in the number of auctions, competition should not increase but rather remain the same.
What are your thoughts on auctions in multiple markets? Give your feedback below.