You might have seen the ad on TV about the PlayStation 5 that was sold for $0.50 on DealDash. 50 cents? There must be something fishy going on with a price like that. Maybe there are some hidden fees? Surely this is not all that the customer paid for the PS5 on DealDash? What about shipping costs?
Read on as we go in to detail on how the end price of an auction is formed.
The $0.50 PlayStation 5 Console…
…and a 55-inch TV! In July 2021 a DealDash bidder couldn’t believe their eyes as they only placed 2 bids to win the auction for a bundle of the brand new PS5 console and a 55″ TV.
The total cost of that auction for the winner was the final auction win price of $0.10 + an estimated $0.20 per bid they placed. And shipping is always free on DealDash!
Your Go-To Place For Gaming Deals
In addition to the PlayStation consoles you’ll regularly find auctions for the new Xbox Series X consoles and full home theatre bundles together with TV’s and audio systems.
And if you are in search of hand held gaming devices, you will find us auctioning the Nintendo Switch Lite consoles often too. No gaming setup is perfect without a pair of gaming headphones with a microphone and a curved display. Be sure to check out the auctions!
The Math Behind The 50¢ PS5
There have been articles opening up the math behind auctions on DealDash in the past. On DealDash the total cost for the winner consists of the auction end price and any pre bought bids they placed in the auction. There’s absolutely no hidden costs involved!
A total of 40 PlayStation 5 consoles have been auctioned on DealDash by the time of writing this blog (Jan 2022). On average the winner has saved over 60% off the Buy It Now price of the auction including the cost of bids.
The winner of the famous 50 cent PS5 only placed a total of 2 bids and the auction ended with a final price of $0.10! Bids are usually on sale and there are different ways you can earn free bids daily – but just to be on the safe side, we’ll use a 20¢ estimated bid price for the calculations.
Placing 2 bids at 20¢ each and paying the final 10¢ auction win price, the user ended up paying only half a dollar for the brand new factory sealed PlayStation 5 and 55″ TV.
How DealDash Works – Auctions Start at $0.00
Well how can the final end price of an auction be so low? The price of every auction starts at $0.00. Whenever someone places a bid, the price goes up by 1¢ and a 10 second timer starts running.
Once no one has placed any more bids in 10 seconds, the auction ends and the final bidder can purchase their win for the final auction price.
Check out the short introduction video below on how DealDash works:
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If you are new to DealDash or the bidding fee online auction model and want to give it a try, use the promo code “dealdash2022” upon registration to get an extra 100 free bids with your first Bid Pack purchase.