| Auction World.tv |
Article Index for Auction |
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Information AboutAuction World.tv |
| CATEGORIES ABOUT AUCTION WORLD.TV | |
| television channels and stations established in 2001 | |
| 2004 disestablishments | |
| defunct british television channels | |
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Auction World.tv was a British auctioneering channel which claimed to sell expensive products cheaply by phone bidding. However, the products were found to be of inferior quality, worth less than the station claimed and frequently went undelievered. Reports by newspapers including the Daily Mirror and Watchdog , a consumer rights show, led to an investigation by OFCOM who handed the company a £450,000 fine, forcing the company into Administration. WHAT THEY WERE DOING They were selling products that appeared to be for 'upper-class' people only and has guide prices of up to £20k. These were massively over-priced and were of very low quality. The name ended with .tv, which mimicked the Bid-up.tv branding at the time, so people felt reassured. For example, bid-up.tv were selling a globe with countries made out of precious items (includong pearl). It had a brass base, it was classed Class A (No speckly sea, etc.), given an official valuation and date of valuation, and the guide price was £930. Auction-world were selling a similar item with a lower class (the sea was speckled). It was slighty smaller and was valued £1280 (no official certificate). WHY THEY WEREN'T SHUT DOWN EARLIER
THEIR PUNISHMENT
AFFECT ON OTHER BIDDING CHANNELS Channel 'bid tv' (Bid-up.tv at the time) got rid of the dot between bid and tv to make sure people didn't confuse them with auctionworld.tv. Same with 'price drop tv' (perviously Price-drop.tv). Bid tv also got rid of the "raising price auctions", which auctionworld.tv cloned from. Lastly both price drop and bid tv took off the guide price, which auctionworld is most known for, uping up the guide price more than it was. CHANNELS LOST
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