SINGAPORE - Singapore-based e-commerce platform Qoo10 is holding a monthly 'Lucky Price' auction where members can bid for a brand new luxury handbag at a fraction of the retail price.
The promotion is part of the online platform's 4th anniversary celebrations, to thank members for their support. Previous auctions were held for luxury bags like Louis Vuitton's Alma PM (July), the Prada Double (August) and Balenciaga's Classic City (Sep).
From Sep 5 to Oct 2, the petite Mulberry Willow leather bag - which retails for $2,930, is up for auction.
To participate, members need to enter a bid between $1 and $300; entries are limited to a maximum of three bids daily per user.
Each bid costs one 'Green MameQ' token, which can be earned by stamping the daily attendance card or spinning the Roulette Q (http://list.qoo10.sg/gmkt.inc/Event/qchance.aspx).
The participant with the lowest unique bid (e.g. $20.37) wins, meaning you could walk away with your dream handbag for less than 10 per cent of the retail price.
"Qoo10 believes in exciting, engaging and rewarding our members in unconventional ways. Our Lucky Price auctions for luxury handbags have been immensely popular, attracting an average of 90,000 bids every month.
"For brand-savvy Singaporean consumers, winning a luxury handbag for less than a few hundred dollars is like walking away with a steal," said James Lin, Senior Public Relations Executive of Qoo10 Singapore.