Auctions for free stuff on Listia.com

Listia is an auction site where you bid on other people’s stuff with virtual credits instead of real money. Listia make it easy for users to get rid of stuff they don’t need anymore and find stuff they want for free. Every user gets free credits on signup. You bid credits for things you want. So each thing goes to the person who wants it most!

Here’s how it works:

1. A user lists something they don’t want anymore. (like an old TV)
2. Other users bid on the TV using credits they received for signing up, referring friends, or selling their own stuff.
3. When the auction ends, the user who bid the highest amount of credits wins! Credits are automatically transferred.
4. The buyer and seller arrange to exchange the TV and the cycle continues.

Listia uses a proxy bidding system simliar to Ebay.

See the detail review on TechCrunch [here]

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