New Auction Site Rockybid.com Launches

Watch out eBay: there’s a new Web auction in town. Rockybid.com launched its unique online auction service earlier this week. This auction service has a business plan that’s like no other auction service we’ve seen to date.

In traditional auction fashion, Rockybid starts auctions with a set price (in this case, $0) and sets a time limit for the auction. The auction site differs from eBay and other popular auction outlets in that it adds 15 seconds to the auction countdown clock each time a bid is placed. In addition, prices increase by just $0.01 or $0.15 depending on the auction. The winner of the auction is the last person to place a bid before the timer reaches zero. Rockybid customers must pay $0.75 per bid. This fee makes it possible for the site to auction off high-demand products at extraordinary discounts.

Some of the first items that will be auctioned off at discounted prices through Rockybid.com include a brand new Honda Insight, floor seats for the opening night of Michael Jackson’s sold-out final concert series in London, and tickets to the opening game at the new Yankee Stadium. Other items include brand new flat screen TVs, digital cameras, Nintendo Wiis, iPods, cell phones, GPS devices, vacation packages, laptops, netbooks, and much more.

As a bonus, Rockybid lets users put money spent on losing bids towards the purchase price of a winning auction within 30 days. The site also offers reward points for purchases that can be redeemed for gift cards to popular retail stores, flat screen TVs, Nintendo Wiis, and hotel stays.

Rockybid’s first set of box seat tickets for the New York Yankees vs. Cleveland Indians opening game on April 16 closed yesterday. A second set of tickets is scheduled to close tonight. Considering the game is nearly sold out and there are no field box tickets left, the tickets (valued at $800 retail) are sure to be a big hit.

The Michael Jackson floor seats are part of a six-day vacation package to London for two that includes airfare, five nights at a four-star hotel, and six-day London Passes that provide access to over 55 attractions. The vacation package is valued at $12,000 and is scheduled to close May 30.