2005-01-06

New money pit

I am a gadget freak! I have to try out everything. I have TiVo, XM, PalmPilot, MP3 players lots of other pieces of tech, some useful, some not so useful. Combined with a healthy respect for a sale, I am excited to watch a new website: Woot!. I can't remember where I read about this today, less than an hour ago, but it looks exciting. So I will try to stay up until midnight so I can see what the new offer is. I guess it is like an online Tuesday Morning. Except five days a week. Every morning at midnight they list one single product 30% off or more. They only have one lot and when it sells out, sales stop. After the sale ends they publish the number sold, the last sale time and the "Woot Wage." These products sell out FAST! Like QVC fast. Frequently in less than 12 hours an entire lot of about 1000 items is already sold.

Today's watch sale resulted in 500 watches, 80% off, sold in 13 hours, 24 minutes, an average of one sale every 3 seconds, and $24,214 per hour.

That's some business. I don't know how they come about these products but they are definitely moving some cash.

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