www.sold.sg, www.gleebid.com, www.simplybids.com.sg, www.crazybid.sg
www.sold.sg, www.gleebid.com, www.simplybids.com.sg, www.crazybid.sg, www.sharkybids.com, etc are some "auction" sites that sprouted recently. At first glance, these auction sites appear to be offering tremendous deals to interested buyers through huge discounts. However, the caveat that when a deal sounds too good to be true be careful holds. To understand how www.sold.sg, www.gleebid.com, www.simplybids.com.sg, www.crazybid.sg, www.sharkybids.com and such works, it is important to understand the mechanics of their operations. I will use sold.sg as an example. Let us take one item that was recently sold on www.sold.sg to illustrate the financial calculations for a good deal purchased. The Canon IXUS 300 was sold at $52.35, a staggering 83% to the retail price of $599. Does this mean sold.sg made a big loss? From where was sold.sg able to source for such cheap products? It is important to note that bidding on items is not free. Each bid requires 1 token which is sold t