August 21, 2009

Listia: Auctions for Free Stuff

Listia is an auction site where you bid on other people's stuff with virtual credits instead of real money. We make it easy for users to get rid of stuff they don't need anymore and find stuff they want for free. Every user gets $50 in free credits (500 credits) after signing up and listing an item. You can even buy more if needed (10 credits for $1), but they cannot be redeemed for cash. You bid credits for things you want. So each thing goes to the person who wants it most!

How does it work?
1. A user lists something they don't want anymore. (like an old TV)
2. Other users bid on the TV using credits they received for signing up, referring friends, or selling their own stuff.
3. When the auction ends, the user who bid the highest amount of credits wins! Credits are automatically transferred.
4. The buyer and seller arrange to exchange the TV and the cycle continues...