Anyone know what a waffle auction is?

[DeepSeaReefer7]

Hey just I was just thinking with the resale value of everyone's expensive equipment and not getting what your asking for.

Have any of you considered doing waffle auctions

The person gets their asking price and the person who wins gets a great deal

For example I want to sell my skimmer for $200

You open a waffle 10 spots for $20 a spot each person pays $20 but only one winner

When the spots are filled

1. Josh

2.Greg

3.Abbey

4.Jeff

5.Michelle

6. ED

7.Jack

8.Lauren

9.Scott

10.Amber

A winner is chosen with a random number generator or wheel spin(both free and easy to use on the internet) this is usually done via live Facebook video to make sure everything is fair and no cheating

Obviously number of spots and price can vary.

Sent from my SM-N950U using Tapatalk

 

[cccharliecc]

That is a really cool concept.
Even cooler when you win and pay $20 for something worth hundreds.

 

[BigHildy53]

Won't work on-line. You'll have problems proving to people that a friend who purchased a spot didn't get the equipment.

 

[cccharliecc]

Yeah...Big trust issue but the concept is cool.
Just would stink if you kept entering and never won, then wound up paying more for the item in the long run.