In a remarkable blend of fun, engagement, and cutting-edge auction technology, AuctionX proudly hosted its inaugural collaboration with Mr. Jigar Thakkar (a.k.a MoneyMan ) and his team from Colgate in Ahmedabad from December 10th to 13th, 2024. The series of auctions proved to be a groundbreaking initiative, showcasing the potential of the Highest Unique Bid auction format while setting the stage for a dynamic partnership between the two organizations. Here’s a look at the journey, the milestones achieved, and what the future holds for this exciting venture.
Table Of Contents
- The Event Breakdown
- Dates and Structure
- Feedback – Oriented Free Auctions
- The Grand Paid Auction
- Success In Numbers and Feedback
- Engagement
- Operational Excellence
- A Growing Partnership
- The Team’s Excitement
- Scaling Up with Innovation
- The Road Ahead
- Key Takeaways
The Event Breakdown
Dates and Structure
The event spanned four days, with auctions held on the following schedule:
- December 10th, 11th, and 12th: Free-to-participate feedback-gathering auctions.
- December 13th: A paid auction featuring a higher-value prize.
Feedback-Oriented Free Auctions
During the first three days, participants were invited to bid at no cost. AuctionX absorbed the cost of both bids and prizes, offering ₹500 gift vouchers to winners each day. This strategy allowed the players to experience the platform firsthand while providing valuable insights into user preferences and behaviors.
The Grand Paid Auction
The final day brought a heightened level of excitement as the event transitioned into a paid format. Participants purchased bids through AuctionX, competing for a ₹2000 gift voucher. This marked a significant step forward, demonstrating the platform’s ability to seamlessly facilitate paid auctions.
Success in Numbers and Feedback
Engagement
Each auction saw 15-20 enthusiastic participants, making for lively competition and a positive atmosphere. The Highest Unique Bid format added an element of strategy, ensuring a thrilling experience for all involved.
Operational Excellence
The event was meticulously planned and executed under the stewardship of Jigar Thakkar (a.k.a MoneyMan ), a close business associate of AuctionX CTO Pratik Jain (PJ). With no technical glitches or logistical issues, the auctions were an unqualified success.
A Growing Partnership
The Team’s Excitement
Encouraged by the seamless execution and positive feedback, The Team from Colgate expressed interest in conducting 4-5 auctions per week for its employees. These events aim to foster engagement and camaraderie within the workplace, blending entertainment with the thrill of competition.
Scaling Up with Innovation
To support this increased frequency, AuctionX has now integrated a UPI payment system into MoneyMan’s auction house ‘MoneyMan Auctions” on the platform. This upgrade streamlines the process of buying bids, ensuring a hassle-free experience for participants.
The Road Ahead
With the groundwork laid for a sustainable partnership, MoneyMan Auctions and AuctionX are already envisioning ambitious goals for the future. Among the most exciting is the potential inclusion of a bike as a prize, valued at nearly ₹1,00,000. This ambitious prize reflects the growing confidence in the platform and its ability to handle high-stakes auctions.
Key Takeaways
- Innovative Engagement: Colgate employees embraced the Highest Unique Bid format, creating a perfect balance of fun and challenge.
- Technological Excellence: The flawless execution highlighted AuctionX’s robust infrastructure and adaptability.
- Bright Horizons: With UPI integration and an expanding prize pool, the collaboration promises even greater milestones in the near future.
As AuctionX charts the next phase of their journey, this partnership with Mr. Jigar Thakkar (a.k.a MoneyMan) stands as a testament to how gamified auctions can redefine workplace engagement. The success in Ahmedabad is only the beginning, with bigger prizes and bolder ideas on the horizon. Stay tuned for what promises to be a game-changing chapter in AuctionX’s journey!