How Big is the Difference Between the Retail Price and Our Price for Auction Items?

By | March 12, 2019

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Depending on how long you’ve been with our site, you may not have thought about this yet. Truth is, every item we put up for auction on our lowest unique bid auction site has two prices. There is the retail price, which is the amount the manufacturer suggests it should be sold for. The second price is our price, and this is always lower than the retail price.

But how low could that figure be?

The answer is simple – it depends on the item on auction. For example, right now there is a Black and Decker Mouse sander up for auction. This usually retails at £40, but we have given it a price of £24.99 instead. That is a huge drop from the normal price you might expect to pay elsewhere.

Meanwhile, the Simon Swipe game also has a great discount available. This retails for £21.99 while our price is £14.99. That is one third off the usual price you might pay elsewhere. You will find other examples on our site too. The price we show for the item is always lower than the retail, even if only by a small amount in some cases.

Why does our price matter?

There is a good answer for this. Most people bid on auctions for items they would like to have. If they win an auction, they will pay their winning bid on top of the bid costs they’ve incurred during the live auction process.

However, there can only be one winner of each auction. That makes sense, but it does mean there could be lots of players who come away empty handed. We think it would be better if you get a chance to purchase the item you were bidding on direct from us. If you do that, you can get a bargain in many cases, thanks to the lower prices we provide on these items.

What about the cost of the bids you placed in the auction?

This is where BidGrid comes into its own. Let’s say you want to try and win that Black and Decker Mouse sander. Each bid costs 25p and you decide to place 10 bids on the auction, totalling £2.50. If you don’t win the item, that £2.50 will be knocked off our price for the sander. That would reduce our price from £24.99 (already giving you £15.01 off the retail price) to £22.49. You would have a shot at winning the auction, but if that did not occur, you would be able to buy it at the cheaper price direct from us – minus your bid costs.

It’s this option that makes our BidGrid auctions so good to enter. If you spot something you want, you know you are going to be treated to a bargain… no matter what happens.

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