Do you want a chance to win a free Rolex? Sure you do! Thanks to the fine folks at Wonawatch.com, a brand new Rolex will be awarded to a lucky winner for absolutely no cost whatsoever. That’s right. No gimmicks and no purchase necessary to earn a place at the table and press your luck in hopes of attaining a world famous luxury watch.

These days, there are so many other auction sites that offer consumers an effective forum to acquire goods of all kinds. Sites like Quibids.com and Beezid.com are on the rise. At Wonawatch.com, their specific focus is providing high end quality timepieces at a reasonable price. We had the opportunity to catch up with Alex Tima from Wonawatch to get a better understanding of how the auction works.

DD: What prompted you to make the site?

AT: I’ve been in the retail watch industry over 10 years and there are so many watches I would like to own but can’t afford so I wanted give everyone the opportunity to acquire a quality watch at a bargain price.

DD: How do I earn free bid points to participate in free point auctions?

AT: You can earn a free bid every 24 hours simply by logging in to wonawatch.com as long as you are a member.

DD: What makes your site different than other penny auction sites?

AT: It’s a penny auction site that is dedicated to watch enthusiasts and provides a forum for them to win watches at a fraction of the retail price.

DD: Assuming you win a watch, how do you receive it?

AT: It’s shipped to your house within 2-3 days at a standard shipping charge.

DD: Are the watches one size fits all?

AT: Well, leather bracelets can fit everybody but a metal bracelet must be sized at a local jewelry or watch store.

DD: What if I want a watch that’s not on your site?

AT: Send us an email about the watch and we will auction it within 72 hours.

DD: How does a seated auction work?

AT: Each auction has a minimum number of seats needed for the auction to go live once the seats are filled. For example, if there are 10 seats, all 10 must be filled before the auction begins. At that point it turns into a penny auction which is when the item prices increase by one cent. The process continues until time has elapsed but the timer will add 10 seconds after each bid.

DD: What price range of watches do you offer?

AT: We offer a wide variety ranging from 30 bucks to 100 grand if you so desire.

DD: How is the price for a seat in an auction determined?

AT: Seat price is determined by the retail value of each watch. Generally seats for watches that cost aero to 1,000 will be $1 a seat per bid. 1,000 to 5,000 will be 5 bucks. 5,000 to 10,000 will be $10 and so on and so forth.

DD: What are the bid packages?

AT: Bid packages are required if you want to play on paid auctions. They come in a variety of packages ranging from 10 to 1,500.

DD: What’s difference between a paid auction and free point auction?

AT: Paid auctions require purchase of a bid package to participate while free point auctions only require membership to participate.

DD: So you can really win a free Rolex?

AT: Yes, absolutely. This is our inaugural giveaway and we encourage everyone to participate. We need 10,000 members/seats for the auction to go live and there is absolutely no purchase necessary or gimmicks of any kind. Someone is going home with a brand new Rolex.

DD: Are all the watches brand new?

AT: No, we will also be offering vintage and pre-owned watches as well consider the huge secondary market for watches.

DD: How long will the Rolex auction run?

AT: The auction will last three months until July 13, 2012. So signup and collect your prize. Best of luck.

So there you have it folks. It’s pretty simple. Go to Wonawatch.com and register as a member to earn a bid and the chance to win a free Rolex. I’ve already secured my membership. Remember to log in daily to acquire more free bids and increase your odds of taking home some hardware. Spread the word, tell your friends and family and best of luck to everybody, especially me.