Mobilink Pakistan is now using Reverse Auction over SMS (Which cost Rs. 3 + tax ) to earn money from its subscribers. Mobile phone companies in Pakistan are always looking for different ways to earn money rather than improving their exisiting services.
Mobilink is offering BlackBerry Bold onyx since June 1, 2010 on its reverse aution with a minimum bid amount 1 paisa (Rs 0.01) only. This so called auction will last till June 30th, 2010. Imagin if only a minumum 50000 people send just one SMS how much mobilink will earn against on BlackBerry Bold onyx (which is approxamatly priced at 40, 990 in Pakistan). Based on this calculation Mobilink will earn about 1 50000 Rs. As a matter of fact this calculation is very small as compared to the actual earning which mobilink will have when more than few lakh people will send more than one SMS.
What is a Reverse Auction?
A reverse auction is a type of auction in which the roles of buyers and sellers are reversed. In an ordinary auction (also known as a forward auction), buyers compete to obtain a good or service, and the price typically increases over time. In reverse auction, sellers compete to obtain business, and prices typically decrease over time. In Mobilink reverse auction the winner is the person who makes the lowest bid that no one else has made.
How to bid?
Mobilink users can bid for an item by simply sending their bid in Paisas to 422. Bidders will receive one of the three responses:
your bid is the lowest unique bid, or
your bid is not unique — please try again, or
your bid is unique but not the lowest unique bid – please try again
Things to note
As soon as the lowest unique bid is either matched by another bid for the same amount or outbid by a lower unique bid, the bidder is informed via SMS that the bid is no longer the lowest unique bid.
As soon as a bid becomes the lowest unique bid, its bidder is informed about it. Someone’s bid might become the lowest unique bid even if he/she is not currently bidding. This can happen if a lowest unique bid gets matched by another bid of the same amount, in which case someone else’s bid becomes the lowest unique bid.
See more deatils on the Mobilink website at the given link.
very informative article