Posted by: conferencebay | May 5, 2008

A Word’s Worth

What comes to mind when we mention the word, “bid”? Sotheby’s, Christie’s and Bonhams? Maybe even Ebay? How about Conference Bay (since you are after all on our blog)?

Well, unlike the prestigious auction houses of London and New York, it is not all about the highest bidder. Neither is it about the lowest bidder; a novel idea once employed by Singapore based online site, Tatarah. If there were a reasonable comparison to be made, it would be with Priceline.com

If you’re prone to scouring the Internet for the best travel deals, Priceline should be a familiar name. The online portal allows users to submit a price that they’re willing to pay for travel related expenses like hotel rooms, air tickets and even car rentals. Priceline then contacts the hotels and airlines to get you what you want at the price you have committed yourself to.

Sounds familiar doesn’t it? Conference Bay is no different. That’s the type of bidding we employ for our users as well. The problem is, most of the people we speak to misunderstand our bidding system. Most people think that the bidding works like it does on Ebay: you place a bid and the highest bidder wins. On Conference Bay we have multiple winners after each auction, as everyone who has named a price the organiser is willing to accept will get a seat at the conference.

It’s probably understandable that some users misunderstand the system. After all, “bidding” has always been associated with regular auctions where the price goes up. Maybe there could be a different, more accurate word we could use. Any ideas? Drop us a line or leave a comment.

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