Finally Price-Conscious Pay-Per-Bid Auction Customers Get to List Their Own Items & Share in the Bid Proceeds Thanks to the New Bid1O1.com Marketplace

A new pay-per-bid online auction website that enables users to list their own items has opened in the United Kingdom. Bid1O1.com is unique in that it has democratised the pay-per-bid auction process by enabling users to share in the bid proceeds generated by their individual auctions. The company founder and CEO, Omo Okuonghae, said, "This is a first in the world of reverse and express auctions. Bid1O1 aims to be many things to many people, a source of affordable luxury items, a virtual marketplace with excellent customer support, a quality auction site, a fun way to get round the deficit blues AND a fast-growing social community of like-minded buyers and sellers looking for good deals." Bid1O1 uses the express/reveal auction format where the price of an item goes down with each bid. The format has been further developed by Bid1O1 to enable users to list their own items at close to market or cost price. This implies that each time a bid is placed on that item, the bid proceeds generated are purely profit to be shared between the seller and the host site. The website founder added that the Bid1O1 approach would be a great way for individuals, small businesses and larger businesses to get rid of any excess stock and make money at the same time. Apart from user-generated auctions, Bid1O1 will be offering buyers a range of items, from the latest must-have electronic items like iPads, iPhones, 3D TVs to unique lifestyle experiences, with some of the items at significantly discounted prices. About Bid1O1.com Bid1O1 is a game-changing entrant into the very dynamic world of internet pay-per-bid auctions which provide users with a more exciting shopping experience based on the correct level of skill and strategy. Bid1O1 is run by a UK-registered private company and based in central London. The management team is very capable and continuously seeks new ways to engage end-users and develop the Bid1O1 idea. A percentage of bid proceeds generated will be donated to selected charities. For more information, please contact Customer Services Bid1O1.com ###