Happy to report a new quality of life feature for Ahonex.com. When you're listing or checking auctions you now have standard filter options.
Another major quality of life change for whale accounts looking to list is that all your level 1 cards of the same type are collapsed. You no longer have to scroll through hundreds of level 1 cards to get to the next unique card.
BIDPAY
What if you could could get paid to bid on auctions? Would that encourage you to bid? If you could make 1% a week that's 52% a year. That's a nice return!
So, how would it work. In the next week or two Ahonex.com is going to launch an optional feature called "Bidpay." It does what it says. It'll pay you when you bid on auctions.
Bidpay basics
When you increase a bid over the previous bid you are going to pay the previous highest bidder a portion of your bid. How much you pay them is based on how much they increased the bid amount on the auction.
The lister can set the percentage from 1-5%. And it's not 1-5% of the bid. It's 1-5% of how much the previous high bidder increased in the auction amount. So, if a bidder increases the auction pricetag from 3000 to 5000 that's a 2000 DEC increase and 1% of that is 20 DEC. Larger increases risk more money and thus the more money you can earn by doing this.
New Options
Lister
Pay a total of 500 DEC to start an auction and choose to implement Bid Pay at 1-5%
Bidder
If you're above the reserve price there's 2 options as a result of any bid-
- I bid, and am the only bid. I win the card.
- I bid, and I am over bid. I get a 1-5% payment from the new high bidder for how much I increased the bid.
- You overbid someone and you win the auction and get the card
If you're below the reserve price there's a few more options-
Bidder
- I bid and I am outbid. I am paid 1-5% of the amount that I increased the bid by.
- I overbid and pay 1-5% of the increase of the previous bid. If the auction closes and no one overbids me but we're also under the reserve price I'll get a refund minus the small amount I paid.
- I bid and I am the winner. My bid sends 1-5% of the amount he increased the auction by to the guy below me.
What does the lister make?
As the lister, the amount of money remaining from the highest bid after he sends the previous high bidder some money is how much the auction is worth to me and the lister will get paid the (highest bid minus Bid Pay) minus a 5% fee.
It's a little confusing, but the key is that in auctions going forward you can incentivize bidding by allowing them to get get paid to bid. So, store up some DEC and get ready to bid and win and to take home cards or DEC.