DealDash is one of the longest and running bidding fee auction website. It is the biggest pay to participate auction sites in the United States. But it has been criticized by some consumer groups for being expensive to clients and for having some kind of similarities to betting. In many cases bidders spend considerable sum of cash without winning anything.
DealDash was established in 2009 by William Wolfram who is a 16-year-old Finnish entrepreneur. He had lost about $20 bidding for a MacBook on a previous penny auction website. Wolfram had produced roughly $500,000 in the affiliate deals a year and sooner purchasing YouTube recordings and videos for $50 acquired from his mother and then gathering income from affiliate marketing links that he would add. He utilized the money that he had saved to begin Deal Dash.
Auctions have been in presence since 500BC and we’ve seen numerous new plans of action worked around it. It may be an eBay auction or a commercial place like Amazon where venders offer various prices for a similar item. Running and maintaining an auction based business model needs a great deal of research and adherence to legalities or your plan of action will be named as a scam. DealDash runs one of the auction based plans of action where it auction items which is purchased by the customers at a similarly lesser price than its real price. The plan of action or business model keeps running on a penny (bidding or offering fee) strategy and offers the bid for as low as 20 pennies.
Many people have a question in mind how does dealdash work and want to know if dealdash scam is real or not. We are going to explain it to you how does deal dash work
Now let us move further to discuss more about dealdash, how does dealdash works, whether dealdash is a scam or not, how does dealdash make money and a lot more.
Penny auction which can be called as bidding fee auction includes members to pay a non-refundable charge to purchase a bid. It means that you pay a non-refundable charge for each incremental bid you make in the auction. Every bid carries equivalent weight and increases the price of the product marginally by a small amount and increase the time of the auction by a couple of seconds. The remainder of the rules and policies of auction ends if nobody offers more than the present bids in a predetermined time frame say 10-20 seconds.
This strategy includes salesperson to get paid for each offer and also the last price the thing is sold for.
What is deal dash?
Deal Dash is nothing but a penny auction site that started in 2009 which gives you a chance to bid for an exhibited item and offers the item to you at the price you offer for in case you’re the last and final bidder. The site keeps running on one of the most basic yet interesting business model.
A bid is offered at a cost starting from 14¢ to 60¢ and it depends on the discounts and offers. These bids or offers make you eligible to participate in the auction. But these bids and offers are non-refundable and on the chance that you’ve utilized a bid once for an item, you will need to use another offer to take part again in the auction.
How does dealdash make money & how it work?
Deal Dash is same as some other penny auction site that makes a large portion of its money by selling offers or bids. The offers are sold in packs of 100s and different sizes and the more you offer the more money the organization makes. The organization also gets the final price at which the item is sold with addition to the value of offers.
Now let us take an example. Suppose an auction has taken place for a t-shirt at deal dash whose actual cost is $10. This auction will start from $0 just like other auctions and it will move to as high as bids will take it to. Assume that you have won that t-shirt with your offer of $5. Deal dash will receive $5 from you and also the total value of offers or bids from all the bidders left for that t-shirt.
In the event that the cost of one offer was 20¢ and each bid increased the cost of the t-shirt by 1¢, the aggregate sum of bids on that shirt turns out to be 500 and the total income created by the organization from that t-shirt will be equal to $5 + $100(500*20¢) which is far more than the original price of the T-shirt. This also clarifies why the organization offers free shipping.
This was the answer to how does deal dash com work.
Now let us discuss about whether deal dash is a scam or not?
DealDash has got a lot of critism and has been frequently compared with betting and gambling as individuals lose their money on bidding. But these terms and conditions are already specified on the company’s site and the individuals are very much aware of the risk of losing their money.
To stay away from these types of criticism, the site also has an alternative of ‘buy it now’ where they give a choice to the not all that fortunate bidder to utilize their lost money and purchase the auctioned item at the original market price of the item and get back their lost offers.
All in All
So this is all related to how does dealdash work, about its working and how it makes money. Also it describes that dealdash is not a scam as there are no proven reports that suggests about it’s scam.
I hope this article on how does dealdash work was helpful to you and if you have any questions related to dealdash scam or how does deal dash com work then you can mention them in the comments down below.
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