Going once, going twice… Sold!
Auctions always give sensible bidders an adrenaline rush. Brush up your entrepreneurial skills and be a part of a virtual auction and where the race is against time between you and your competitors.
This is an elimination round which will be a team event with at max. two participants in each team. A college can have multiple teams. On-spot registrations are not permitted. There will be an online elimination round two days prior to the date of the fest. The participants will be shown images of various artifacts and luxury items. They have to guess the price of the product at which it can be auctioned. If the predicted value guessed by the participant is close to the actual price of the product, points will be awarded to those teams. Top 50 teams will qualify for Round 1.
In this round 50 qualified teams will compete in a speed auction. They will bid for 20 commodities. Bidding will start from the actual price of the commodity. Contestants will raise their placards and announce their bid. The commodity will be sold to the highest bidder after announcing it thrice.
So, GRAB ONE BEFORE YOU ARE LEFT WITH NONE.
A mail will be sent to all the qualified teams prior to the first round in which disclaimer along with the list of offered commodities in round 1 will be mentioned.
Please Keep in Mind!
Now that you have got your hands on your product it’s time to Know Your Customers!! How well your product performs and whether it can beat its competition depends on how thoroughly you know its features and whether you can identify the target market where you can sell your product.
So, in this round you will bidding for the type of market you want to sell
your products in with your limited resources. Now be careful, as this will be a blind bidding, so we will only be telling you the attributes of the various markets like the potential, size, age demography, speed, cost conditions, uniqueness, demand conditions & taste, addressability, etc.
Nandini Gupta: +91-9828055999
Lakshay Sharma: +91-9358562652
Akshat Agrawal: +91-9950630805