Thursday, April 7, 2011

Brand new iPad 2 eventually sold at auction for under S$140

The iPad 2 that was on the block at blick.sg eventually went for just S$139.90 to blick user "Justin". Not surprisingly, the bidding was fierce. The auction, which was slated to close at 3pm, eventually ended at 6.32am the next day, some 15 hours later. This happens because every new bid sets the countdown clock back 20 seconds. Every time the auction looked like it would end in 30 seconds, a new bid would come in, setting back the clock and keeping the auction alive.

While the iPad was eventually sold for S$139.90, the winner probably paid much more because each bid on blick will cost $0.75. It is estimated that "Justin" probably spent about S$700 in total to snag the device.

While S$700 is considerably more than S$139.90, it is still much less than what he would have had to pay had he bought it from the grey market in Sim Lim Square.

(Full disclosure: The website, blick.sg is an advertiser on this site.)

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2 comments:

Sparklette said...

I was observing the auctions early on and find that some of the more experienced users like "Justin" tend to also bid on the blick credit packages (50 credits, 100 credits, etc) and win them at cheap prices. So the actual price he spent for the iPad is likely considerably less than the theoretical S$700.

Not sure if this "tip" is useful to anyone. I don't have time to bid myself, but wish anyone who does the best of luck!

Jimmy Yap said...

Thanks for this! That's a good way of doing it. I'm sure it will benefit some people though not me. I don't think I would be able to handle the stress of an auction that gets extended by 15 hours!