WEIGRATE LTD

AUCTION

WEIGRATE MARKET IS CHANGING THE BUSINESS WAY FOR ALL PEOPLE ALL AROUND THE WORLD
PLATFORM, WILL ALLOW ANY BUSINESS EASILY TRANSITION INTO ACCEPTING CRYPTOCURRENCIES WITH NO LEGAL, TECHNICAL OR OPERATIONAL COMPLICATIONS IN A COST-EFFICIENT AND USER-FRIENDLY MANNER. WITH WEIGRATE, COMPANIES WILL BE ABLE TO EXECUTE CRYPTOCURRENCY TRANSACTIONS IN A LEGAL AND FULLY TRANSPARENT WAY.

MISSION IS TO INTEGRATE COMPANIES, EMPLOYEES AND BUSINESS INTO A UNIFIED BLOCKCHAIN ECOSYSTEM, WHICH WILL MAKE BUSINESS RELATIONS TRULY TRANSPARENT, EFFECTIVE AND RELIABLE.

GLOBAL

Addressing the global needs of the eligible existing workforce of 5 billion people

SECURE

A trusted network powered by Ethereum Smart Contracts, Blockchain Nodes & Node IO

GROWTH

Continued growth of business worldwide

EXCHANGE

Convert and exchange cryptocurrency instantly within application

CROSS-CHAIN PAYMENTS

Receive, Use & Send top 10 cryptocurrencies + 3 Weigrate cryptocurrencies

LOW FEES

Increase The Efficiency Of Transactions With Low Fees.

NO MIDDLEMAN

Easy Person To Person Direct Transfers Without Middleman.

NO BARRIERS

Send & Receive International Payments Without Any Third Party Involvement.

BOOST SALES

Accept 60 digital currencies at zero cost. Eliminate fraud

VISA CARD

Physical and Plastic cards accessible to people without traditional bank account.

A STORY...

“The banner ad says “Macbook Pro: 90% off!” It seems too good to be true, but you click on it anyway and find yourself. The prices are insane! The Macbook is around $44 dollars with under a minute to go and the other items are similarly priced. Surely there is no way a website like this could stay in business selling such high-priced items for so little money.”
-The Game-

ABSTRACT

Auctions are powerful because of their efficiency. Any sale of an item is an interaction between the price at which a merchant is willing to sell (WTS), and the price at which a consumer is willing to buy (WTP). These two levels rarely meet perfectly, resulting in consumer surplus (the buyer pays less than what they would have been willing to pay) and/or producer surplus (the merchant is able to sell for higher than their minimum price). Because the price is the same for all consumers in a traditional sale, some consumers spend less than the maximum they would have been willing to, and some don't make a purchase at all, even if their WTP exceeds the merchants WTS. The structure of auctions has the effect of collapsing these surpluses. As the price of the item rises with each successive bid, buyers with lower WTP drop out of the auction until the consumer with the highest WTP eventually wins the item.
The closest analogue to penny auctions in economic theory is the „all pay auction‟. In an all-pay auction, bids are submitted in full regardless of the eventual winner. All pay auctions have been found to result in total payments greatly in excess of the value of the auctioned item. This is true both in the classroom laboratory and in real world examples such as the allocation of bandwidth spectrum through a lobbying process.

Competitors

On Regular Auctions, the bid increment is unlimited, so just placing a bid is no guarantee of moving into the lead if someone else has placed a larger bid than you.

On Weigrate - every time someone bids they become the bid leader until the next bidder replaces them.

Because of this, sale prices on items stay very low, meaning that the attractiveness of placing a bid does not decline very much as the auction goes on. This is especially true when the item has a comparatively high retail price. A bidder on an $800 iPad is unlikely to see much of a difference between a price of $10 and a price of $50. Additionally, the true cost of bidding is disguised somewhat by the low cost of each individual bid. In economics, prospect theory asserts that losses hurt relatively more than gains of a similar amount. When a user places a bid on Ebay, he or she sees the entire amount at once, which can be a bit daunting. Since people tend to mentally separate losses (or costs) spending $100 in one cent increments has less of an emotional impact that dropping that same $100 all at once.

WHAT IS WEIGRATE AUCTION?

Weigrate is a global business-to-consumer and business-to-business online marketplace. The platform provides marketing, order and payment processing services for thousands of companies and users. Consumers and small businesses around the world are using the platform to connect directly with growers and producers and to get any type of items and services and lowest price worldwide.

Weigrate is a relatively new auction mechanism run by multiple online companies.
A bidding fee auction, also called a penny auction, is a type of all-pay auction in which all participants must pay a refundable fee to place each small incremental bid. The auction ends after a period of time, typically ten to twenty seconds. Last bid reached auction reserve wins the item and also pays the final bid price.
Participants pay a fee to purchase bids. Each of the bids increases the price of the item by a small amount, such as one penny (0.01 USD, 1¢, or 0.01 GBP, 1p; hence the name of the auction), and extends the time of the auction by a 30 minutes.

Why WeigRate different?

Because every auction is settled to a reserved limit. LAST BID – WINS!

The Reserve Price is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The Reserve Price is always disclosed at auction between the seller and the auctioneers. Both the Guide Price and the Reserve Price can’t be subjected to change once auction has been started and at least 1 bid placed – auction edition or any amendment is prohibited.
Every auction is settled for 10 times restart to get its goals. If auction has been restarted 10 time and goals not reached- system automatically disqualify auction item and refund bids. If auction item stock control enabled then auction can be rested 10 times for every stock item until some of them will be sold or wined.
That provides comfortable sales for suppliers and wholesalers.

WEIGRATE AS A PRICE WAR CONCEPT

What is a 'Price War' ?

A price war is when companies continuously lower prices to undercut the competition. A price war may be used to increase revenue in the short term or as a longer term strategy to gain market share. Price wars can be prevented through strategic price management (with non-aggressive pricing), thorough understanding of the competition, or even communication with competitors.

BREAKING DOWN 'Price War'

When a company wants to increase market share, usually the easiest way is to reduce prices, which increases product sales. The competition may be forced to follow suit if its products are similar. As prices get lower the quantity of sales increases and customers receive the benefits. Eventually, a price point is reached that only one company can afford.
Companies will not be able to sell at a loss in an attempt to eliminate the competition completely.

Auction fees and penny auction price conversion.

WEIGRATE VENDOR PLATFORM

Vendors are well supported on the Weigrate platform. With a very sustainable and client-filled platform, vendors are able to put up their items for sale or auction. On the system, items like cars, artefacts, real estate and other high-end devices can be auctioned and sold at very attractive prices. Weigrate allows every user to have a chance at being a vendor. If a user buys an item at a certain price, he or she can as well become a vendor and resell it to get more profits. Buying and selling are made easy on the system, with many profits being made daily by both vendors and buyers alike.

One of the main aspect of WeigRate auction – once users will start bidding on the item and some item is won – then the seller will get it is payment for sure. Payment amount already will be collected inside of system and will be available once shipping documents will be provided safety purposes. To compare with regular auctions where users can place their bids and once win – they can delay payments , or not to pay at all - WeigRate saves time and money for sellers. Once auction starts and wonned – seller will get amount.
Because of indexed auction reserve price seller can estimate absolute success of selling his item.
For example, auction has 1000 users , seller sell a computer. For 1000 usd = 20usd (2000bids)
Means every user average is 2 bids only.

MAIN REASON OF CREATING WEIGRATE PLATFORM

• Provide users new possibility of getting any valuable items at low price fast and legal way. That concept of getting items at a low price has some other aspects and main of them is to get a huge profit one wined item can be sold for a good profit.
• That has to become a trending platform for users to win good items or vouchers very cheap.
• As an example, a trip to some island may cost 2000 USD but auction target price will be converted and settled to a 40 USD only.
• Lot of peoples are wasting their money for lottery, some betting or similar. The auction will remove that negative factor as a money-wasting op to – 0 USD.
• Every auction has its auction reserve level – which is target price. Every user can evaluate his bids amount and possibility to win any item.
• Good option to move and promote any type of products services on market using auction reserve price.
• Possibility to use WeigRate platform to build any type of commercial campaigns and attract more users and customers.

CRYPTOCURRENCY IN WEIGRATE

Cryptocurrencies
• Wrt
• Wrtw
Will has dynamic price according to market demand indexed with coinmarketcap.com
• Wrte
Will has static price - 1 USD
All other cryptocurrencies prices also will be regulated with coinmarketcap.com price averages.

WRT | WRTw | WRTe Value

GROWTH POTENTIAL

"Blockchain has received a significant amount of analyst and press attention over the last few years as this emerging technology holds significant potential,"

The growth of the market can also be assessed by the fact that market capitalization of cryptocurrencies reached a new high of $110 Billion as of June 2017, an increase of 1363% since Feb 19 2016. Bitcoin and Ether, two of the most famous cryptocurrencies, have a market capitalzation of approx. $42 Billion and $25 Billion respectively.

IMPORTANT ABOUT THE AUCTION.

The first thing a potential bidder must choose is when to enter the auction. There are three conditions that must all be satisfied for an individual bidder to win an auction. They must have placed the last bid. All other active bidders must make a decision following that last bid to stop bidding. (Either permanently, a stopping decision, or temporarily, because they expect another bidder to bid in their place) Finally, no new potential bidders can make a decision to enter following the last bid. It would be impossible to determine, except by random luck, the exact time that bidding will stop. However, bidders could speculate as to the range of price during which that might happen. Swoopo also posts the price that a similar item was recently sold for, assisting (or confusing) this process. Therefore, a rational bidder will wait to enter until the price reaches their estimation of that range and then enter. Each bidder will have a different estimate of this range, leading to different entry points. Bidders will also have different tolerances for risk, which will lead to divergences in entry behaviour as well. After entry, bidders must decide whether to bid or wait. There is some information available to bidders that may help them make this decision.
However, there is an additional element to penny auctions that has the effect of introducing, even more, randomness: free entry into the game. Imagine that during the course of a single poker hand a new player could walk up and be dealt a hand without matching the bets that had already been made. Essentially, this is what penny auction sites allow. Because of this, a bidder in a penny auction is betting not only on the willingness to pay of the other bidders but also on the willingness to pay of potential bidders who have yet to enter the auction. The combination of these two elements suggests a game who‟s result is highly influenced by chance.
The system has auto refund option – independent from admin or seller or auctioneers.every auction can be restarted 10 times in case there not enough bids or auction does not win. An auction will be disqualified after 10 restarts and all bids will be refunded to auctioneers instantly.
If an auction has been woned then auctioneers can refund bids in amount according to a new bids pack and get 10% bonus.

Example :
Wasted bids – 50 +new bids 50 +10% of new bids
Usd has to pay 50 USD and refund 50+50+5bids
Bids can be returned within 30 days.

If any user has used fraud transfer in order to purchase BIDs, and later on has participated some auction then the auction will be declined and disqualified, auctioneers will get bids back instantly with a further update by email.

SEPARATED LEVELS FOR BIDS PACKS AND AUCTION VALUE LEVELS.

Item’s Auction Levels

There are 4 available auction levels and users are as well categorized according to their auction levels. Whenever a user registers with WeigRate Auction by purchasing a Bids pack, the user is by default a level 0 user. However, the user can rise to his desired level by purchasing higher levels’ bids pack.
If a user got bids pack from level 1 then he can only take part in auctions in level 1 but unable to partake in auctions which belong to the higher level (2, 3 & 4) until he purchases the higher level bids pack. It should be noted that accumulated bids will not raise users’ level.
• If the user is a 2nd level user, then he can bids on level 1 and 2 auctions respectively.
• Also, users in 3rd level can partake in auctions in level 1, 2 and 3 except level 4 auctions.
• While the users that are in 4th level can bid all levels
There are additional daily bonuses provided for bids packs starting from 1st level - $200 pack.

Auction Item’s Level / Value

Regarding the posting of items in auctions levels, every auction items are categorized by targeted pricing, which are calculated by formula and are assigned according to their prices. In a situation whereby an expensive item is mistakenly posted in the wrong level, then it will be automatically assigned to higher auction level.
Below are auction levels, according to target price
• 1 level target price $0 – $49.99______________(item price $0 – $4,999.99)
• 2 level target price $50 – $499.99___________(item price $5,000 – $49,999.99)
• 3 level target price $500 – $2499.99________(item price $50,000 – $249,999.99)
• 4 level target price $2500 – Unlimited______(item price $250,000 – Unlimited)

Main purpose of adding levels system is to prevent users from lowest levels bid on higher level auction. That would be unfair if user who bought bids for 50 usd only will win real state auction suited for users who has purchased 1000 usd or more.

RAISING MONEY USING AUCTION.

Exchange items to cryptocurrency

Quite a good number of people have the keen interest to try their hand in the investment sector, using the digital coins. They do so because through one medium or the other, probably upon research or hearsay, they have come to realize that investing in the cryptocurrency is a highly profiting endeavor. Also, they may have also found out that the digital coins are day by day becoming a currency that is in high, vast and popular demands in nearly all niches in the different online and offline marketplaces there are in the world. People will want to invest in cryptocurrencies because they see that the previous investors have had success stories involving seamless and much revenue accumulating business transactions done on the various platforms, of which the Weigrate is relatively inclusive.

But the problem often with these seemingly pending investments by prospective investors is that not all of them, quite a majority of them, in fact, do not have the monetary resources to invest. A lack of capital is always a pressing impediment in all forms of investment. This often makes the prospective investors to call it quits before fails, choosing to go do something less demanding of money. Despite the lacking of the individual prospective investors, they must have something to sell in order to raise enough capital. The belonging owned can range from a handmade item, metal scraps, fairly used items, real estate, business ideas and plans, inherited property, and so on. It could as well be a service one would be able to render to clients on business grounds. The reality is that no matter how small or large or odd-looking an item may be, it still has some value in the marketplace, no matter how infinitesimal. The Weigrate makes it possible for such prospective investors to be able to put up those items or services for sale on the platform. Upon bidding and arriving at a sale, the vendor will get the profits allocated to his/her Weigrate account. Henceforth, the prospective investor (vendor) will be able to choose a payment option that enables withdrawal that ends up with a cryptocurrency payment.

SELL ITEMS INSTANTLY

Sometimes a user will face a situation when it will be useless to deliver some item from another country, or it is impossible to deliver item - as it is a real estate.
As an example. Auctioneer from Canada won real estate – Bungalow in turkey.
The user can contact auction realtors to sell item instantly with 50% discount or with some higher price.
That is not a required feature but maybe somebody would prefer to exchange bungalow in turkey and get 50,000 USD in cash rather keep bungalow in other parts of the earth? sound strange, but that can open doors to all users to bid worldwide located items, lots and sell them.
As a matter of that situation, the auction will open new feature - which is Black Friday.

Please read more here…

VENDOR VOUCHERS.

Unique opportunity to attract more users and consumers to company services. It is controlled category, only companies who passed compliance will be permitted to post vouchers, coupons, gift cards.

Preferred but not required denomination of
• 50 usd
• 100 usd
• 150 usd
• 200 usd
• 250 usd
• 300 usd
• 350 usd
• 400 usd
• 450 usd
• 500 usd

Above mentioned items - vouchers, coupons, gift cards, can be used within seller’s services or other services if that is permitted by seller. Valid worldwide.
It is unique savings opportunity.
Some restrictions might be applied.
Restricted to sell vouchers, coupons, gift cards - from services of other companies without written permission of company owner.
Additional exceptions for Travel Agencies ,cars, boats, other rentals.

UPCOMING SERVICES AND FUNCTIONS

WEIGRATE WALLET SYSTEM
2017.Q4
WEIGRATE VISA CARD
2017.Q4
CROSS SALES FUNCTION
2018.Q1
MARKET DEMAND BOARD
2018.Q1
CLOSED GROUP AUCTIONS
2018.Q1
ETH BASED SMART CONTRACT BIDS
2018.Q2
BLACK FRIDAY
2018.Q2
AUCTION BUSINESS SOCIAL NETWORK
2018.Q3
MARKET DEMAND BOARD
2018.Q3
AUCTIONS CREDIT - SMART CONTRACT
2018.Q3
LIVE AUCTION ROOM
2018.Q4
BLIND BID
2019
AUCTION WAREHOUSE AND INFRASTRUCTURE
2019
NEWLOGOWHITE