Limbo Auctions - New 2006 X3 sold for $78.04!!??!?

[Kirby]

Disclaimer - I know this looks like a spam message but it's not! I have no affiliation with this company at all.

Has anyone else heard about this site: www.41414.com

I just read about it in Business 2.0 Magazine, this is a pretty interesting marketing idea. Manufacturers donate prizes. You bid on the item, the lowest UNIQUE price is the winner! So, if they get 7 bids -

$0.01
$0.01
$0.02
$0.03
$0.03
$0.07
$1.53

The $0.02 bid wins! The marketing "scheme" is that it creates huge traffic/publicity when people bid on an item, and also when the winner tells their friends they bought a BMW for $78.04. Interesting concept!! Clearly, BMW is embracing it.

2006 X3 - $78.04

2006 Mini - $50.43

So - is there a hidden catch to this???

 

[Big Daddy]

Yes, you can only text your bid via cell phone and most bids cost 99 cents plus your standard text message charges. They are like you said, getting lots of traffic and publicity and if 10000 people bid at 99 cents each thats ten grand for them? Interesting marketing scheme, I would also like to know if any one has bid and or won a product?