the next ebay?
 

Ive been reading about this company for a very long time on stock message boards. (TFCT)

Basically, you set the price for an auction above the retail price. And then people use tickets to enter a lotto for the item. Once the number of tickets is reached to satisfy the auction (each ticket = $1, so the # of tickets needed is = to the price you set) a lottery is held and whoever has the winning ticket wins.

anyways, was messing with this a little tonight ($15 worth) and it was kinda fun. Might catch on.

heres the link

http://www.prizewise.com/huh.asp

heres the stuff i used my tickets for.

2004 Toyota Tacoma Quad Cab, Silver - NEW 1 / 38,000
1 in 38000
8/19/2004
9:32:12 PM

2005 Lotus Elise: The Future Car of the Year!!! Deliverable in June!!! 2 / 80,000
1 in 40000
8/19/2004
9:32:12 PM

BRAND NEW 2004 Dodge Viper SRT-10 1 / 139,999
1 in 139999
8/19/2004
9:32:12 PM

BRAND NEW 2004 Infiniti FX45 AWD 1 / 69,999
1 in 69999
8/19/2004
9:32:12 PM

BRAND NEW 04 Mercedes-Benz SL-Class SL500 Roadster 1 / 139,990
1 in 139990
8/19/2004
9:32:12 PM

2005 RX Warrior Snowmobiles 1 / 14,500
1 in 14500
8/19/2004
9:32:12 PM

Sony 70" XBR® Grand WEGA? 1 / 8,933
1 in 8933
8/19/2004
9:32:12 PM

Brand New * Yamaha SX230 Boat 1 / 49,499
1 in 49499
8/19/2004
9:32:12 PM

NEW 2004 Corvette C5 Convertible. A Beauty and A Beast. 1 / 99,000
1 in 99000
8/19/2004
9:32:12 PM

NEW 2004 Honda Aquatrax R-12X Jet Ski. Endless summertime fun! 1 / 20,900
1 in 20900
8/19/2004
9:32:12 PM

Yerf Dog 6.5 Horse Power Dune Buggy Go-Kart 1 / 2,448
1 in 2448
8/19/2004
9:32:12 PM

NEW Powered Paraglider/paramotor package. 1 / 16,824
1 in 16824
8/19/2004
9:32:12 PM

NEW! Honda CRF 250X Dirt Bike-Get it now and set yourself free! 1 / 10,999
1 in 10999
11/19/2004
6:00:05 AM

3.12 OUNCE BAR of STUNNING 999.9% 24kt GOLD! 1 / 2,090
1 in 2090
11/26/2004
1:34:28 AM

hmm, that's pretty cool..

seems illegal

what happens if not enough tickets are bought?

Cool idea.

How is this like ebay? In ebay you buy shit. This is one big ass raffle. And in ebay, only the person who gets the top bid has to pay. Here everyone pays.

Exact oppisit of ebay

thats bs...they make way too fucking mcuh profit.

then your item doesnt sell I assume. See, they claim a 40% increase in profit as opposed to listing on ebay, as the seller sets the price, and the price determines the # of tickets needed to close the auction. Prizewize pays the seller, - 17% fee.

Just think its an interesting concept. the share price is around 0.06.

That wont affect ebay :1orglaugh

interesting, but they have a ton of growing to do in order to be half the size of ebay.

even if it catches on and turns out to be successful, i highly doubt they'll get anywhere near ebay's market cap.

I think they will grow big and quick

Get a car for $1

How many people is that bound to attract

agreed, ebay is a very long way. A 1.00 share price may happen in the next 6 months if they live up to their advertising claims. The key to success is to have enough users to close 100,000 ticket auctions in under a week.

Yeah thats an interesting idea anyways. :)

thank you... that sums it up perfectly:)

I doubt this will be a big hit. Some guy will buy like 5 tickets for $5 and wins a car while some guy bought 1000 tickets and wins nothing.

i haven't checked out their company, are they private or public? how many rounds of financing have they gone through? they could get a large user base with some smart advertising, but it would cost some money.

people still buy lottery tickets and the odds of winning are worse than getting hit by lightning.

they are on the pinksheets TFCT

thats the whole point of a business?

would you prefer to be in debt?

21st Century's prizeWise.Com Growth Accelerates

LAS VEGAS, May 21, 2004 (BUSINESS WIRE) -- Earlier today, prizeWise's president, Steve Rinehart, announced that membership in the website, http://prizeWise.com, was growing at the rate of one every 8 minutes. Since that announcement, growth has accelerated to the rate of one per minute. Additionally, property has been added to the sweepstakes pool, making the total value as of the issuance of this release at $7.3 million, and increase of $2.3 million from the announcement of earlier today.

Here is what happens if you dont sell enough tickets.

"What if my item doesn't sell enough tickets?

You have 185 days to accumulate ticket entries for your item. If in that amount of time you do not reach the target number of ticket entries you have requested, the raffle will be closed and tickets will be returned to all buyers.

After your raffle has closed due to insufficient ticket entries, you will have the option to relist the item and start a new raffle."

That's a very clever concept. Might be a winner :winkwink:

1 user a minute, 60 users an hour, 1440 users per day, 10,080 per week, 40,000 per month (at current claimed rate)

Hey herbal.. put up your ref link and I will register under you.

This is nothing new, and the government has had their eye on it for awhile.

Ok where does my dollar go when there aren't enough tickets bought? Seems a little shady to me. Did I miss that part?

not sure if they have a referral program.... the may ask you as you register. lmk


this is interesting

Will you distribute coupons for my business?

Yes. We will if they're valuable. If you represent a business that wishes PrizeWise to distribute your coupons, you may either upload your information by click the "Merchants" button in the far bottom menu, or e-mailing your coupons to: [email protected]. Include an attachment with the coupons you want us to post, in .JPG format, with each coupons being 400 x 200. You must also include your logo in a separate .JPG file. Include also a description of your business, contact information, and whether your coupon is local (state or providence specific), national (all US, all Canada), or universal (worldwide). The greater an audience that can use your coupon, the more of it we will distribute. We will provide you with a mechanism for seeing how many of each of your coupons we have distributed. We encourage large companies to post with us. We reserve the right to refuse to post any coupons for any reason.

they give your ticket back

Oh ok. Good enough for me. GAME ON!!

lol.... I bought my $15 worth and will wait and see... I imagine if you win it could become rather addicting... playing the odds, spreading risk, and then turning around and selling won items on ebay at huge profits:1orglaugh

seems pretty sweet.



Now listen to this.. technically.. since this company is using the excuse of selling coupons for free tickets... couldnt a porn website sell coupons for adult dvd's and getting the free adult site membership? recurring coupons

neat concept, but how do you know it isnt fixed so their buddies win all the auctions?

Who chooses the winner?
This selection process is completely random. The winning ticket is selected by prizeWise's computers. It is currently prizeWise procedure to have an Intel random number generator, seeding by noise internal to the computers? conductors, pick the winners of all sweepstakes. The winning ticket is chosen and posted the moment the final ticket in entered. This process has been proven highly reliable and perfectly random. If there is ever a situation in which a winner must be chosen by hand (i.e. a site bug, an invalid first time winner, etc...), the winning ticket number will be chosen by the most reputable third party with whom are able to contract, such as our accounting firm or law firm. The sweepstakes information will be transferred to them in a double-blind arrangement (in which neither of us have both the ticket numbers and their owners, or the winner), and they will randomly pick the winning ticket by physically rolling a ten-sided dice, logging each digit as they go. In the future, we may make arrangement to choose the winners to certain high ticket items live via web cam on the site

How long can "a very long time" be?!? They say they only launched May 21, 2004!

if it doesnt get enough tickets bought, do you get your money back?

tfct has been a major discussion on penny stock boards for at least a year. They have their hands in other things, the launch of prizewise is speculated to take the stock into the dollar range and off the pinks.

you get your ticket back

Alexa rating for Prizewise: 304,770 (Ebay is 14)
Time to accumulate enough tickets: 185 days
Cost: 17%, plus 10% to the reserve which they add themselves to cover the free coupons = 27%

Why would anyone want to committedly hold on to something like a car for over 6 months, meanwhile having it depreciate, while they wait to see if enough tickets are sold? And with a traffic rating of only 304,770, it's very unlikely enough tickets would be sold. And then, they lose 27% of the price in commissions? I think I'll stick with Ebay.

No offense meant, of course...just my :2 cents: