Bullion Connection - A new auction platform for only 5000 stackers

Discussion in 'General Precious Metals Discussion' started by BullionConnection, Jul 14, 2014.

  1. BullionConnection

    BullionConnection New Member

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    Hello fellow stackers.

    In November 2014, we launch our new site www.bullionconnection.com

    This site allows 5000 members access to gold and silver auctions that run differently to both regular style auctions and penny auctions. Our goal is offer members a transparent and secure way of adding to their bullion stack for the fraction of cost of retail bullion purchases.

    With bullion prices climbing, adding to our stacks took a lot longer for fewer ounces. we started looking for a place we could get quality gold and silver bullion cheap.

    The sites we found had fees and charges for for both buyers and sellers that were 80+% over spot price, and the penny auction sites we looked at had countdown timers and algorithmic bids that never seemed to end.

    We are stackers ourselves and wanted a place where a community of bullion enthusiast's could gather to bid on items and potentially walk away with gold and silver up to 90% off the retail price.

    We didn't want to create an auction where members are bidding against millions of users worldwide. So we capped membership to 5000 Australian members only. This allows you to bid against a a small community of fellow stackers, and allows us a way to keep great service to our members.

    So how does it work.

    We auction a silver maple leaf, which currently has a $30 retail price.
    We set a Bid limit of 50.
    Members start to bid and the 50th person to bid wins this item.
    So 1 bid could win you the item, or you could bid 10 times, giving you a 1 in 5 chance to take home the item.

    However If you don't win, you can still get the coin minus 100% the amount of bids you've spent. So if you spend $8 in bids, you pay and additional $22 and get that coin shipped plus postage.

    If you want to be one of the 5000 members pre register today.

    www.bullionconnection.com

    PLEASE NOTE: ONLY AUSTRALIAN IP ADDRESSES WILL BE ACCEPTED.

    If you have any questions you can contact us at [email protected]
     
  2. whinfell

    whinfell Well-Known Member Silver Stacker

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    :rolleyes:

    In before spanner :lol:
     
  3. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    :rolleyes: 1 more to be sure :p
    HOW MANY DIFFERENT people have to come up with the same dumbass idea :eek:
     
  4. alor

    alor Well-Known Member Silver Stacker

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    spannerbul_lion connection.com.romulan
     
  5. whinfell

    whinfell Well-Known Member Silver Stacker

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    For all I know it could be a spammer gathering your email address so they can spam you.

    No ABN, no contact details, no terms and conditions.

    No thanks.
     
  6. nickybaby

    nickybaby Active Member Silver Stacker

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    dont get it.

    Edit to add.

    so i spend ten bucks and get a one in five shot at winning 3 times my original bet.

    I would be better off going all in with 2-7 off suit against pocket aces.
     
  7. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    And all domain contact and business details are hidden behind DomainsByProxy. This by itself doesn't indicate a scam but it does raise a red flag if no business contact details are available on the site:

    If it is a legit service then there needs to be more transparency.
     
  8. boston

    boston Well-Known Member Silver Stacker

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    5000 Australian stackers? Do we have that many?
     
  9. BullionConnection

    BullionConnection New Member

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    Hi everyone, wow what a response. in relation to some of your questions

    Bullion Baron 0.80 cents per bid. So if you bid 10 times on an auction that is set at 40 bid limit and you are the 40th bidder you win that coin for $8. if you bid once and are the 40th bidder you pay 0.8 cents

    HOWEVER

    if you don't win, you can put 100% of the amount of bids you made, so $8 worth towards the retail price, which will be listed at the top of each auction. if the coin is listed at $30 you pay the difference of $22 and still get the coin.

    You can see the bids you've placed and for which auction, however members don't know what the bid is at. This allows a fair playing field for all.
    The auction automatically ends once that bid number is hit, and starts a new auction.

    For all those concerned with spam, we are an Australian startup business trying to offer a service. We have applied for an ABN however is not issued for 28 days however when it is it will be added to this thread and the website.

    Bullion Connection PTY LTD is a registered company with ASIC however if you want more details or if you have any other questions you can contact us at [email protected]

    Privacy policies and terms and conditions are currently being drawn up by our solicitors and will be available upon the websites launch.

    I have approached the administrators of SS to advise and disclose our business as per the joining instructions of the site.
     
  10. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    "...up to 90% off retail price."

    Looking forward to buying kilos for $75. :ffscanwehaveasarcasmsmileygp?:
     
  11. Nabullion Dynamite

    Nabullion Dynamite Active Member

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    The only way I can see this worth it is if the losing bid buy price of the coin is close to what you would pay on another website. If a Maple Leaf costs 25$ on Apmex and you can purchase it for around 25$ on this site if you lose it may be fun and a win win.

    If they set a 25$ Maple Leaf to 50th bid wins they stand to make 40$ at .80$ a bid. If you bid 30x times 24$ and still have'nt won you can outright buy the coin for 25$ and had a chance to get it cheaper if you were lucky.

    If there is a coin you already wanted to buy I see this is a chance you can get it cheaper and worst case pay retail...Unless the losing bid by price on a maple is like 35$ or something insane.
     
  12. boneyard

    boneyard Well-Known Member Silver Stacker

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    28 days to get an ABN?

    I got mine in 1 day.

    Where are you located?
     
  13. BullionConnection

    BullionConnection New Member

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    Nabullion Dynamite,

    Your 100% right. thats the whole idea of this site. if your going to buy bullion, why not have a go at getting it for $0.80, and if you don't win, just pay the difference.

    thanks for your response
     
  14. BiGs

    BiGs Active Member

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    Bullion Connection PTY LTD is not a registered company with asic. ABN numbers are given instantly when registering a company. It can all be done in a couple hours online and you are emailed ABN and business certificate same day, even when a solicitor or accountant is proxy registering everything for you. To add to the suspicion, a .com requires nothing but payment for registration while .com.au requires an ABN and hence accountability.
     
  15. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Actually, I did see they are listed on the ASIC gov site with locality info.
     
  16. BullionConnection

    BullionConnection New Member

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    Hi Boneyard,

    No ABN as yet. 28 days is the timeframe we were given however I agree it is a long time. tax office red tape I suppose. However I have our ACN number of 600 412 396.
     
  17. BullionConnection

    BullionConnection New Member

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    Hey BIGs,

    This was really just to inform the bullion community about our launch as we are apart of the stacking community to. I'm not to sure how I can else i can ease your concerns. So perhaps wait for the launch and have a look then.
     
  18. BiGs

    BiGs Active Member

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    ok I used ABN lookup. I don't understand how you don't have an ABN number. I registered a company the other week and I got it straight away. Also, the ACN is your ABN minus 3 digits. Maybe your solicitor registered the old school snail mail way or something.
     
  19. badhammy

    badhammy Member Silver Stacker

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    How about a bio of who you are, history and at least a mission statement...
    Your Facebook page has sweet FA in info (and zero likes) as does your website.
    Also noticed the font and colour scheme of your company name is similar to an advertiser from the old AHA magazine (Bloomst has all my copies so someone else can look this up).
     
  20. renovator

    renovator Well-Known Member

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    Quote..Nabullion Dynamite]

    "If they set a 25$ Maple Leaf to 50th bid wins they stand to make 40$ at .80$ a bid. If you bid 30x times 24$ and still have'nt won you can outright buy the coin for 25$ and had a chance to get it cheaper if you were lucky. "

    wow sounds like a good money making idea for the website ...not so good for the winning bidder if you have to pay the 50th bid.
    I think not knowing what others have bid is the problem here & will discourage people. You have absolutely no idea where you stand in the auction .

    Who sets the amount of bids?

    Will every auction have the same amount of bids?

    What is the amount of bids per auction ?
     

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