Wendy's Launches Online Promo Reverse Auction

Tech devices, sports gear, HDTVs among the booty to be won

Wendy's kicked off an online promotional 99-cent Bid For Value auction contest yesterday. Participants can win an X-Box 360 Elite Console, Lenovo ThinkPad, a Kawasaki mountain bike, a Head Transit snowboard, a Panasonic flat-panel plasma HDTV, a Hyundai 2008 Santa Fe SE (no options package) or $10,000.

According to QSRWeb, a quick-service industry online newsletter, the promotion started Wednesday and runs through Jan. 14. Eligible participants can register at the Web site www.99CentBidforValue.com until Jan. 14 at 11:59 p.m. Eastern time.

The promotion is set up in reverse auction style. Participants log on at designated times to submit a bid that reduces the retail value of the designated prize by specified increments, such as $1 or one cent. Bidding continues until the price is reduced to 99 cents. The bidder who hits 99 cents wins the prize.

Bidding started yesterday at 1 p.m. Eastern time on the first prize, an Xbox 360 Elite Console. Auctions are held every half hour during specified times listed on the Web site. Official rules and eligibility requirements also are posted on the site.