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Wellbid is one of the leaders and co-creators of the “entertainment shopping” segment on the World Wide Web. A unique approach to the shopping process, “entertainment shopping” extends beyond mere acquisition of a desired product to encompass the less quantifiable emotions associated with the purchase. It serves as an exciting alternative to traditional online shopping.

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Wellbid is operated by Welmory Limited, incorporated in Cyprus and registered by the Department of Registrar of Companies and Official Receiver of the Ministry of Energy, Commerce, and Tourism under the number HE 245903, with its registered office at Arch. Makariou III, 2-4/703, P.C. 1065 Nicosia, Cyprus. The company's initial capital totals €1,001,000.00 (one million and one thousand Euro). VAT: CY 10245903J. Welmory Limited conducts auctions all around the world. We are present in Europe, Asia, both Americas, Africa, and Australia. Our goal is to offer our Users the most interesting forms of competition for the auctioned items as well as to provide the most attractively priced merchandise and services.

The idea behind Wellbid was born from the observation of regular auction sites on the web. By and large, these have departed quite far from the classic auction model, as known and practiced for hundreds of years—for instance, by auction houses specializing in artwork sales. Traditionally, an item is listed with a specific starting price and the participants present in the auction hall offer increasingly higher bids. When no more bids are made, the auctioneer strikes the gavel and the item is sold for the highest offered price. Welmory Limited strove to create a website that returns to the classic auction format. The auction hall was moved into virtual space, removing the need for the participants to be physically present. The gavel strike was replaced with a clock counting down the time for bids to be placed before the Auction ends (60, 30, 15, 10, or 5 seconds, depending on the current price). Since every new offer costs a symbolic amount, it is not enough just to bid—you have to bid well; hence, the name of the site. Our first auction took place in October 2008. Since then, we have held nearly one million of them.

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Terms and Conditions (last revision: 2015-03-20 00:50:00)