Egypt’s first mobile-based auction service, Mazady, said Wednesday its auctioned iPhone 7 was sold for EGP 7,800 at 42 percent off its market value.
Mazady offered the iPhone 7 for auction Tuesday morning at EGP 1,500, which is around 88 percent less than its market price of EGP 13,000.
The phone of the year is equipped with brand new attractive features, including water resistance, longer battery life and low-light advanced camera, which all come at a hefty expense.
Mazady – a TA Telecom product – allows users to bid through SMS during weekly auctions to purchase a wide range of products, including smartphones, tablets, television screens, kitchen appliances and more.
To join Mazady’s auctions, mobile users need to first subscribe to Mazady’s service by sending 166 in the message body to 1666, explained Mohamed Ezz El-Din, Mazady product manager at TA Telecom. He added that once subscribed, users can start texting their bids to 9204 offering a maximum of EGP 1.5 per SMS bid. Bidders can get the latest auction updates by texting “status” to the same number.
“A user can win an auction with just 10 bids,” said Ezz El-Din, adding that the average cost for winning an auction is around EGP 15. The cost of subscribing to Mazady is EGP 0.30 per auction day and the cost per SMS bid is EGP 1.50, he explained.
In addition to sending live updates, the service also provides users with engaging content and tips on how to win an auction.
Maximizing the m-commerce opportunity for operators, retailers and consumers, Mazady succeeded in running more than 50 auctions.
Want to beat price hikes and buy your favorite products at prices starting as low as 70 percent off their market price? Click here to join Mazady now!