Hi all, just ran my first $1 auction (well, it's still in progress).
I used Kollab instead of Skool for it. Which was fine.
I just created my group for the auction this week, and got 500 members.
The offer is actually a service we already sell consistently for $4500 as a one time fee.
The biggest issue I ran into with the auction was that people who were familiar with me, and heard about me/my company from referrals, were ready to bid.
The first bid was actually immediately $1k.
Luckily I convinced her to drop it to $100.
It almost scared away the people who weren't as familiar with me, because they could no longer bid just $1 or $2.
The goal is as many bidders as possible.
How do you guys prevent such large starting bids?