American Fuel Card Auctions

A unique concept for everybody to obtain large lots of gas at rock-bottom prices through internet auctions.

San Diego, CA (PRWEB) August 17, 2006 -- Global Internet Auctions now providing an opportunity for everybody to get cheap fuel.

With fuel prices literally going through the roof and Governments unable or unwilling to address the problem Global Internet Auctions have come up with a unique idea that enables participants in internet auctions to lay their hands on large amounts of gas or diesel at rock bottom prices.

And when we say ‘rock bottom prices’ we mean 'rock bottom prices.'

Harold Lak, representative for Global Internet Auctions says, “With our system you could end up paying only maybe $6 or $7 for $500 worth of fuel". "Our fully automated auction system decides that the ‘highest unique’ bid, not the ‘highest bid,’ wins the auction," Mr Lak said. "We limit the amount people can bid, to between $5 and $20.” He continued, “We’ve been auctioning a lot of Fuel Cards in Australia already and we’ve just launched our American website were we are auctioning the Amex Fill It Up Card that’s accepted nearly everywhere here.”

When asked what the secret is, Mr. Lak said, “Well there is no real secret, it is all very simple. We put a fuel card up for auction and determine that bidders may not bid higher than say $12.00. We also determine that only a certain total number of bids for that auction can be entered.”

“Participants enter bids up to the $12.00 and when a bid is entered, the participant can immediately see if their bid is ‘unique’, ‘highest unique’ or equal to a bid that was already entered. You can place unlimited bids but each bid attracts an admin fee of 50 cents to $1. The actual bid amount does not have to be paid, unless it is the winning bid.

So if I placed 7 bids it would cost me between $3.50 and $7 I asked. "Exactly” said Lak. “If one of those bids was the ‘highest unique bid’ in a $500 auction, you would receive the fuel card and the whole thing would have cost you less than $20 all up.”

Responding to my question, “How long have these auctions been running?” Lak answered, “We have had the idea for a long time but started only 4 weeks ago in Australia as a test. Down there it is already a great success, not only because of the opportunity of being able to buy the cheap fuel, but since fees have been kept low, participants can enter a lot of bids and have a lot of fun too,” he said.

“You see, as soon as you place a bid, you get to see what the ‘highest unique’ bid was at that stage, so you can outbid that participant by bidding the same amount and then enter another, to see if your new bid now is the ‘highest unique’ one. It allows participants to exercise their strategic skills,” Lak said.

He said, “As soon as the allowed number of bids has been reached, the auction closes. All entered bids together with bidder’s usernames are published on the website and the fuel card is sent to the owner of the successful bid. Two minutes after an auction has closed another one starts automatically.”

Well, I have looked at the Australian site and it may indeed be one way to ease the pain of higher and higher gas costs.

The American site can be viewed at:

www.americanfuelauctions.com

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