SOLD.SG is Back – as part of migme!

SOLD.SG is back!

I used to work with them to market the site when I was still at omy.sg. A lot of bloggers would have fond memories of SOLD.SG, having experienced the product themselves and tried out the auction.

Some of the old blog posts I managed to dig out – Moonberry, Rachel Tan (pxdkitty) and William Tan.

The business has since been acquired by migme where I work (which also explains why me and my family members cannot join the auction as there is strict staff regulations on this to prevent cheating).

If  you check out some of the recently completed auctions, there’s an Apple 13-inch MacBook Air – 128GB that sold for just S$18.76:

 How is this even possible you may ask?

Here’s the background:

What is Sold.sg?

• Sold.sg is an innovative auction website, offering users the chance to win brand new products and services at greatly discounted prices!
• The unique business model means products normally sell for between 60-95% off retail price.
• Sold.sg lives for their customers – all products are sourced from the most reputable suppliers to ensure the best possible shopping experience.

What do Sold.sg sell?

• Technological gadgets like smart phones, game consoles, tablets and digital cameras
• Branded accessories like jewellery, bags and wallets
• Lifestyle items like restaurant vouchers and airline tickets to popular destinations
• Sold.sg is always looking for exciting new products and unique ways to sell them!

How to Bid http://auctions.sold.sg/guide-beginner 

Bidding is easy! Just follow these steps:

1. Choose your favorite item
2. Purchase Tokens from Sold.sg
3. Start bidding – each bid increases the bid price by 15 cents* and extends the timer by 20 seconds
4. WIN! When the auction closes and you are the highest bidder
5. Pay the final bid price to receive your win!

* For normal auctions

To celebrate the launch, you can get 20 free tokens now by just registering:

Tips & Strategies

• Start small! More expensive items attract the most bidders, making them harder to win. So check out the cheaper items to increase your chance of winning!
• Beginner’s Auctions! Marked with an “L” Plate, these auctions are specially for users who have never won an auction before!
• Don’t run out of Tokens! Make sure you have enough before you commence bidding – having to stop halfway to purchase more Tokens is definitely a waste of time and can cost you your item!
• Use the Auto-bidder! Set your upper and lower limits (when you want Auto-bidder to kick in and when you want it to cease). Auto-bidder will bid for you and can help intimidate other bidders!
• Focus on one Product at a time! There are so many awesome products on Solf.sg it’s hard to know where to start, but picking one item and sticking with it will make it easier to focus and easier to win!
• Lastly – take your time! Explore the site, see how it works and browse though some auctions to familiarize yourself with the process! 

Type of Auctions

Normal Auction’s bid price increases by 15 cents per bid. The use of Automatic Bidding is allowed.

Beginner Auctions
This auction is only available to users who have won less than 3 auctions (excluding Free Token Pack Auctions).

Five Cent Auctions
The bid price of this auction increases by five cents per bid.

One Cent Auctions
The bid price of this auction increases by one cent per bid.

Blind Auctions
This is a special auction where the nicknames of the users are hidden during the auction. The full nicknames will only be revealed after the auction had closed.

Manual Auctions
This auction does not allow the use of Automatic Bidding. Participants have to bid manually.

Free Auctions
This auction allows our users to participate without using Tokens. Free auctions do not require Tokens and will simulate the atmosphere of an auction.

Premium Auctions
In general, Users may only participate in 4 Auctions in a 14-day period. Premium Auctions allow Users to exceed this limit – Users can bid on Premium Auctions even when they have exceeded their Auction eligibility.

* Please note that the winner will have to pay the winning price of the product.

That’s it! 

All the details are revealed here in this post, fully transparent. Have fun bidding! With Chinese New Year just round the corner, here’s where you can have some fun shopping online when all the shops and malls are closed during the festive period! 🙂