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Lamborghini to be listed for $1
May 2016
Lamborghini to be listed for $1
Auction website Lixtor.co.nz will auction a Lamborghini Gallardo worth more than $200,000 for a $1 reserve, if enough Kiwis sign up as members.
The auction is currently locked and will become available for bidding once Lixtor has reached 50,000 verified members.
“The auction is a fun way to raise awareness about Lixtor and show Kiwis that they have a choice when it comes to online auctions,” says Lixtor founder and CEO Henry Aung.
“Our auction platform has several attractive features, including the fact we don’t charge success fees. However, we need more members to reach ‘critical mass’ and ensure a great experience for everyone buying and selling on Lixtor.co.nz.”
The auction will only be open to verified members who have paid a minimum $25 deposit to their Lixtor pre-paid account. This prevents users from creating dummy accounts to increase their chances of winning.
Once the membership target is reached the auction will last for a week, with bidding capped at a maximum increment of 10c per bid. Auto-bid and multiple-continuous bidding by a single member are disallowed.
“This allows as many people as possible to bid on the auction without making the price of the car become too unaffordable to average bidders,” Aung says.
“Our focus is on how many new members we can sign up, not how much we can sell the car for.”
Aung says Kiwis love selling online but don’t want to be stung by over-the-top success fees.
“If you are selling a car or another expensive item, or you sell a lot of things online, an 8% fee can add up to a lot of money.”
Instead of charging success fees on all auctions, Lixtor allows members to pay for ‘enhanced listings’. These include having bold titles, being highlighted or appearing on the homepage. However, users can always list a ‘basic’ listing at no cost.
“This gives Lixtor users a choice: they can have a free listing or they can spend a bit extra to have greater reach. We believe this is a fairer model than charging hefty fees on every transaction.”
The auction will be cancelled if the required number of verified members is not reached by July 1.
Full terms and conditions for the auction can be found at: http://lixtor.co.nz/lambo
ENDS
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