How It Works

Just start bidding + sharing (your referral link) - it’s that simple. Microbid is 85% Member-owned and the entire platform was created to help + benefit regular people and small businesses everywhere. We’ve built in the most ridiculous 10% Referral Bonuses (for every single Auction) and the most generous Loyalty + Rewards system you’ve ever seen, so you never have to "learn" anything about "How It Works" if you don’t have time or want to. Just sign up for free - and bid.

THE MORE YOU BID, THE MORE YOU WIN (FOR REAL)

If you don’t win the Auction(s) you want (right away), you’ll still earn instant Loyalty Stars* + the chance to win "Instant Rewards" + Prizes every, single time you place/make a bid - including the chance to outright win any Auction(s) you bid on.

Plus, Loyalty Stars also increase your Bidpower, which improves your chances of eventually winning* the Auction(s) you want (as the winning bidder).

We created "Bidpower", so that no Bidders could dominate Auctions with more money and/or Loyalty Stars - and to make Microbid more fair and beneficial for everyone. We even built in a "Cooling" feature to prevent members who’ve recently won from immediately winning again until their "Cooling" period of 1 week expires.

Note: Microbid is 100% legal - and Loyalty based. We are not a raffle, lottery or gambling based platform. More

A LIFETIME PLATFORM YOU CAN GROW WITH

Too many companies take, take, take and you’re not left with much in comparison. With Microbid you can build a lifetime Loyalty Score & Bidpower - with Lifetime Legacy rights. That means you can assign up to 3 people in your Edit Account area to transfer your Account to when you are no longer with us.

In addition, you can also write-off every bid on your taxes (yes, we’re serious) because with every single bid members place they are also instantly purchasing a micro-share of the underlying item, good, product or service for the Auction.

So, our Members are actually fractionally purchasing the very Auction items, goods, products and services that they’re ultimately winning the right to buy for $1.

Furthermore, you can also sponsor any Auction, which puts your @Account name under the Auction Title, like "sponsored by YourName". This offers significant marketing and branding value. And, Sponsored Auctions come with Bids equivalent to the cost of the Sponsored Package you choose - starting at $10/mo. ie. you can classify your expense as "Marketing".



There’s a lot to how Microbid works because this type of bold platform has never been built or done before. Except for the 3 times we’ve built earlier (and successful) versions of this idea. But those were much simpler and ultimately lacking the detail and features we knew were needed to do this right.

It’s a combination of...

Microbid.com features digital, crowd-powered Auctions, which help members turn almost anything into a buyable Auction where the winning Bidder receives an offer to pay just $1 to buy the Auction - while Sellers, Brands & Businesses always get 100-125% of their full asking price (Microbid pays the other 99-124%).

Members also earn loyalty stars + the chance to win instant cash, prizes & rewards with every bid, including the actual, outright Auction Item (or Service) they’re bidding on - with every single bid (tip: See middle screenshot below that says "You Won"). Plus, there are lots of other opportunities to win (and earn) other daily, loyalty-driven Instant Rewards & Referral Bonuses in the process.

Loyalty + Rewards are the cornerstone of Microbid. So, even though Members bid in increments of $.001 (ie. 1/10th of a penny) and those bids cost from $.30-.50/each, you start earning rewards and are eligible to win Instant Rewards (ie. prizes) the moment you start bidding.

Finally, some Auctions can have really high values, which means it would take a lot of bids for that Auction to reach its reserve (ie. the minimum bid when it is eligible to be won), so we’ve created a one-of-a-kind "Bucket" system that pools bids for Auctions of similar value all together, so Auctions can reach their reserve price faster and be won.

In some ways, Microbid is like the ultimate digital marketing platform. We intentionally made it valuable to Businesses & Brands because we felt that would help create a reciprocal, mutually beneficial ecosystem - for both Customers and Small Businesses, Brands, etc.



(click to enlarge)

HOW MICROBID CROWD AUCTIONS WORK

The Reserve Amount/Price is the minimum bid that an Auction must reach to trigger the system/algorithm to select a winning bid/Bidder.

The winning Bidder doesn’t actually have to pay the Reserve Amount/Price. They receive an offer from Microbid to buy the Auction for $1. And, if they decline the system selects an alternate winning bid/Bidder.

Perpetual Crowd Auction - We are also in the process of adding this functionality in for popular Auctions that would be convenient to reset after every winning Bidder is selected. This will allow a popular Auction to keep the same exact page forever - making it easy for members who want it to find it and continue bidding on new cycles of it. This will also allow us to display all the winners for a particular Auction on one, single page dedicated to a particular item, good, product or service.

BIDDING PHASE

All Auctions start at $0.000 with an average 1% Reserve Amount/Price (ie. 1% of their Face Value, which is entered by the Auction Creator/Poster, but reviewed by our system and team in various ways).

Members then simply place "micro" bids in $.001 increments at a time (10 "micro" bids = 1 penny) - and pay as little as $0.30 per bid (to place each $.001 bid)...until the 1% Reserve Price is reached. Once the Reserve is reached the system/algorithm is automatically triggered to select a winning bid/Bidder.

HOW TO ACTUALLY WIN AN AUCTION

When the "Reserve" Amount/Price is reached Microbid’s system/algorithm will automatically trigger to select a winning bid/Bidder.

Note: Most Auctions will have a fairly low maximum bid cap to prevent members from using too many bids on one Auction.

If there is 1 member with the highest bid, then they are automatically the winning Bidder - unless they are in a "Cooling" period (because they recently won an Auction).

If there are multiple "high" Bidders with the same max, high bid - then the system uses their Bidpower to determine the winning bid - also keeping "Cooling" status as part of the automated selection process.

COMBO BIDDING

One of the features that makes Microbid the most unique Auction platform in the world is Combo Bidding, which is optional, but allows the bids of higher, similarly valued Auctions to be combined, allowing minimum Reserve Prices to be reached faster - thus, creating Auction Winners faster.

Tip: Combo Bidding is optional and can be "enabled" when posting/creating a new Auction with a simple toggle. Look for the combobids icon on most higher value Auctions.

BUY NOW PRICE (ie FACE VALUE) VS AUCTION VALUE

We display and let Sellers/Auction Creators/Posters set a "Buy Now" (ie. Face Value) price to: IMPORTANT
However, you then enter the "Auction Value" (ie. actual price) to establish how much the sale of the Auction should generate (for you or for the purposes of actually fulfilling it). The "Auction Value" then also automatically populates and sets:

1) The 1% Reserve Price, and
2) How many bids at $.001 would be required to hit the Reserve Price.

The lower your Auction value, the less bids required - and the faster an Auction should go. However, Sellers/Creators can also set up to a +25% markup on their "Auction" Value to accommodate any work, expertise, marketing efforts, etc. you may have incurred while creating the Auction.

CONSOLATION WINNER

Every Auction also has a "Consolation" Prize/Reward offer/bidder as well. And, that bidder receives the same $1 pricing offer as the winning Bidder.

Microbid’s algorithm looks mostly at how many bids bidders placed combined with their Loyalty Scores (ie. total stars).

"Cooling" Period statuses are also taken into account by Microbid’s system/algorithm when selecting Consolation Winners.

The Best Loyalty Program on the planet

Loyalty Stars are our way of rewarding longevity. You can use them to redeem rewards from Microbids Rewards Store - but, they also help you earn more Daily Instant Rewards and win more Auctions too.

And, we even built in a "cooling" feature to our secret algorithm that minimizes the chances of someone who’s recently won, while still keeping it possible - thus creating more unique winners.

Loyalty + Referral Program Highlights:

•  Nearly every Auction* has a Consolation (ie. 2nd) Auction Winner
•  Earn 10% Referral Bonus when you refer someone who wins an Auction (as a winning Bidder)
•  Earn up to a +25% Creator Bonus when you post a successful Auction (that ends with a successful Bidder)
•  Earn Daily Instant Rewards - every single time a user places a bid they get a chance to instantly win a reward - or even the outright Auction they’re placing a bid on!
•  Become a Preferred Vendor to be a provider for Auctions that have been recently won. Tip: Choose "Seller/Service Provider" as the Account Type when you create a free account.

See other Monetization features + benefits


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