Bidify, at www.Bidify.com, is a new business opportunity which takes the current popularity surrounding penny auctions and combines it with an opportunity for profit sharing.
Penny auctions are different from traditional auctions because they charge their users a fee each time they bid on an auction. This fee ranges between fifty cents and seventy-five cents per bid. These fees cover part of the site’s operational costs, while the remaining fees become profit.
With their recent explosion in popularity, a decent penny auction website can have hundreds to thousands of bidders each day, and the capital of a popular penny auction site is impressive. Bidify.com gives its affiliates the opportunity to share in the profits of their penny auction site, Bidsson.com.
How It Works
First, simply joining Bidify is not an option. Those looking to join Bidify must be invited by an existing affiliate to be a member. After receiving your invitation, you must pay both a start up fee and then agree to a monthly administrative fee.
As Bidify.com is based in Iceland, their start up fee is listed as 100 Euros, and their administrative fee is 20 Euros a month. At the time of this publication, the Euro is worth $1.3052, which means signing up for Bidify will cost you $130.52, and the administration fee will be $26.10
After you have become a member, your job is to sell sample bids to potential Bidsson penny auction customers. You will receive points for the number of sample bids that you successfully sell.
At the end of each day, 50% of Bidsson’s net profits is shared between affiliates with appropriate levels of points and will be paid out as cash to qualifying Bidify affiliates.
The Bottom Line
Bidify merges the ideas of affiliate marketing – by requiring affiliates to recruit new members to their penny auction site – with a multi-level marketing compensation plan.
These penny auction/profit sharing opportunities are starting to spread through the internet, but they are still relatively new and there is not much being reported on whether or not they are effective money making opportunities.
If you have any experience with Bidify or similar opportunity, please leave your reviews below.