A new auction site launched last week called YouNeverLose. So far the business is living up to its name. The site allows you to buy rewards points in order to place bids on expensive items that you aim to win for well under market value. What makes this particular online auction so different is that they give you your money back.
Once you buy the rewards package you are guaranteed to get your money back in the form of a gift card. When I first heard this I was skeptical, I thought I would get 25 bucks back on some gift card to the piggly wiggly, but I was wrong. The selection of cards is actually very impressive: Banana Republic, Bath and Body Works, Old Navy, and so on.
It would be nice to see more auction sites offer something like this, if for no other reason than not feeling so bad when you don’t win that iPad for $200 dollars off.
“I thought I would get 25 bucks back on some gift card to the piggly wiggly” — Hilarious, exactly what my thought process was.
I would really enjoy to hear more about their business model. I assume the companies on the gift cards (i.e. Target) are paying a set percentage fee to YouNeverLose for getting them business.