Readers bought the concept big time and, at the end of 10 days of hectic and sometimes frantic bidding, more than R2-million worth of brand new, fully warranted goods had changed hands at an average of 26 per cent less than retail value.
This KZN on-line auction project proved so successful that Independent Newspapers South Africa is now rolling it out in Gauteng and Cape Town.The Star
and the Pretoria News
are teaming up to introduce BidnSave to their readers with a go-live date in June and The Argus
and Weekend Argus
will bring it to their readers in August.
Thereafter it is planned to hold two auctions a year in each region, making a total of six BidnSave auctions in one year.
KZN's first auction for 2007 goes live on Sunday, April 15 at 9am.
The concept is a very simple, very clever one whereby retailers pledge goods and services to the auction. These are displayed on the BidnSave website and in 160 000 catalogue supplements to the Sunday Tribune
just as the auction goes live.
When goods are sold the retailers are given full retail value of their items, in advertising credit
, even though they may have sold for much less. They have also enjoyed the free publicity through the web site and catalogues, as well as feet through the door as people come in to inspect the goods prior to auction. The retailers also gets databases of all bidders who have expressed interest in their goods for follow up and future sales.
The newspapers get the bid money in advance and are assured of a future ad spend at full rate card prices, while the bidder gets the chance to get branded goods at up to 40 per cent less than retail value... as well as all the fun of a live auction.
Visit the site at www.bidnsave.co.za