Maybe you’ve been eyeing the Samsung Galaxy S7 Edge since its announcement but you know say money be problem. If this is your story, rest assured, because MediBig, a penny auction site is coming to your rescue. There, bidders can get up to 95% discount off market prices. Yes, You read that right!
On MediBig, items such as smartphones, laptops, fans, microwaves, and almost every item worth having, are put out for auctioning. All auctions start at a value of GH₵0.00. To participate in an auction, you will need to buy BidCredits. BidCredits cost about GH₵0.50 each. All bids increase the auction price by a pesewa (GH₵0.01). Every auction has a 15-second timer that counts down and without new bids, the last participant to have placed a bid wins the item and also pays the final auction price, no matter how small, to own the item!
As the site gets ready for a launch in two days, we had the chance to interact with Bright Antwi Boasiako, the lead developer. Here’s what he had to say.
For further information, do well to read MediBig’s FAQs. They are very comprehensive and straight to the point.
Interview with Bright
Kwamina Arthur: Hey Bright. What’s up? Welcome to AFD and thanks for your time.
Bright Antwi Boasiako: Thanks Kwamina, for having me.
KA: The pleasure is all mine. I’ve heard many exciting and mind-boggling ventures in Ghana. So why a penny auction site? What value do you seek to bring on board or what gap have you identified that you seek to close?
BAB: That’s a good question. Auctions are amazing ways of selling and buying. They’re the things that leave both parties heavily satisfied. It turns out most people want to own some things, but inwardly, they believe they can never realize those dreams simply because of huge prices. MediBig is here to keep that dream alive and continually offer everybody that chance to “own it now!”
KA: I’m looking forward to buying the Nexus 6P for GH₵100 on your site, haha. Anyway, I have some concerns about transparency. How transparent is the bidding process? How do I know MediBig staff aren’t sabotaging the bidding process to jack up the price of items?
BAB: The future of our business largely depends on its promise of low prices and a priceless opportunity for people to own their dreams. Sabotaging the bidding process to jack up prices would be stabbing the entire business to death. We promise a discount of over 95% off market prices and I can assure every bidder of absolute transparency.
KA: All right. So how authentic are the products you’re offering for sale? I hope they’re not knock-offs of authentic brands.
BAB: All products auctioned on MediBig.com are brand new and of top-quality from leading brands like Samsung, Apple and Canon. For retail outlets, we have a few partners and we are still in talks with some companies to establish lasting relationships. Any company that wants to partner with us is very much welcome
KA: Reassuring. But if you’re going to offer authentic products at up to 95% discount give-or-take, how are we assured of continuity and solvency of your outfit?
BAB: Thanks for bringing that up, Kwamina. Let’s start by saying we love to do the math. The idea of a penny auction engineers its own revenue and solvency machinery. Like every other venture, there’s an element of risk involved in running this business but trust me when I tell you that we have a very potent optimization model to offer the best deal to the client and to the house. Solvency and continuity is almost guaranteed for MediBig.com
KA: Yeah, I get it. Many bidders, one winner. How will delivery of products be done after the auction?
BAB: Products will be delivered to the doorstep of winners based in Kumasi. For winners outside Kumasi, delivery will be based on an arrangement between the winner in question and MediBig’s Sales Department. I’d like to add that we hope to extend our offices to other regions very soon for easy delivery.
KA: Are there any remedies if I’m not satisfied with the quality of products I receive?
BAB: We actually anticipate this issue and that’s why a thorough description of products is provided on every auction on MediBig.com. Bidders then choose to participate in those auctions mostly based on what they see. Our promise: We will deliver to you the exact specs you find on our site. However, if a winner still has issues, our Sales Department will reach an understanding that works best for the client. The client comes first at MediBig!
KA: What happens when a winner fails to pay up for his item?
BAB: I really doubt if any winner would fail to buy the item given how compelling the earned discount would be. However, in an unlikely situation where that happens, like one in a billion, the second may be considered since all auctions on MediBig.com must have winners.
KA: Any other things about MediBig you’d like readers to know?
BAB: Yes, there are key things worth noting about MediBig’s opportunity. First, I would like to talk about our automatic bidding system. “Keep Me Alive”, as we call it, ensures that one does not lose an auction simply because of things like internet connection cuts, having to go to bed, tiredness, low battery, etc. With Keep Me Alive, you set the maximum number of BidCredits to be spent on an auction and the time that your bid should be thrown and that’s it! You may turn off your computer or go to bed and you are guaranteed to participate in the auction so long as you have enough BidCredits. It’s designed to take away the burden and hassle of having to be available all the time in order to participate in an auction.
Another sweet opportunity from MediBig is MediFerr. MediFerr is MediBig’s referral system. It’s a way for people to make money from MediBig.com without necessarily participating in our auctions! Every member of MediBig.com has a unique referral link which can be shared on all platforms on the internet. Anyone who registers with MediBig through your referral link is automatically attached to you and you get paid from the first BidCredit package he/she buys! You then choose how to spend that money. Money gained from MediFerr can be used to buy BidCredits from MediBig.com or can be withdrawn in cash by sending a withdrawal request to MediBig’s Sales Department.
Again, there is a “Buy Now!” option available for all live auctions on MediBig.com. Bidders may choose to buy the product being auctioned and the monetary value of all BidCredits spent on the auction by the bidder will be given as a discount off the market price of the auction.
KA: Sounds very good and structured. I admire the thought, effort and hard work and I really hope that your startup gains traction. I would definitely love to win big on MediBig someday soon.
BAB: You sure will win Big on MediBig.com Quarmzz!
Thank you very much for hosting us and for you warm wishes!
Featured image credit: www.invictuzsolutions.com