Sounds like a form of gambling, or an online raffle.
“It’s as good as having one of Obama’s printing presses.”
When I was a kid, we called people like these “fences.”
I’m no expert but I did a bit of researching online about this type of bidding. If you bid, you lose your money even if you don’t “win” the item. Also, notice that there is no set time limit. As soon as someone “bids”, the time increases. In some cases, it is up there like ten minutes. I read on some sights that the company has a “bidder” set up electronically to increase the items. One person noted that she watched the same bidder, by name, bid for 48 straight hours. She apparently took shifts with her roommate to figure out how often this one bidder was on the sight bidding. A lot of speculation is that the company will let some items “slip” through the bidding offers to show good faith. Too much speculation if the company is legit or not in who bids etc... At least with Ebay, for example, if you don’t win the item, you don’t pay for all your bids. You also have contact with the seller and know the shipping and handling. Just a thought.
I looked at the other one, Beezid I think it’s called. Looks pretty much like gambling to me. How many .60 bids would you have to make before getting one of the great deals? I guess the strategy would be to wait until just before the end of the auction to start bidding?
If you do the math, they make much more than ebay for an item.
Many of these sites only allow the item to go up by a cent at a time, at the price they charge for item you will end up paying 4x retail prices even when they say the item sold for 75% less than retail.
It is a kind of advertising fraud.
It’s a fixed game. They string out the bids, and people pay for every bid they make. The auctioneer is making money off of hundreds of unsuccessful bids.
Clearly this is not a legitimate auction. Basically it’s a raffle being held under the guise of an auction. There’s no real skill involved, and it’s largely a matter of luck if you win.
I’d love to see the Feds shut this down, but hey, the Obammunists never really enforce any laws that help the regular folks, just laws that favor their protected classes, as well as those laws that help to destroy the country in general.
this is bad, this is gambling, this is a scam
this is bad, this is gambling, this is a scam
You might as well go to Vegas or Atlantic City, sit at the roulette wheel and bet the double zero. About the same odds. When you win, you win big. But most of the time you are pouring your money down a rathole.
But on the bright side, winning an occasional bid at QuiBids or Beezid or one of the other merchandise gambling dens is quite a bit more likely than winning the Powerball jackpot.
Wow, that is a very interesting business model.
After looking over the site, I see that there are even ways to set up automatic bids on an item. You can lose money (spent bids) in your sleep! Brilliant!
It is similar to some real-estate deals that offer a house for $1000.
And you always think, Why wouldn’t the broker or the advertiser buy it?
Only later do you discover that it is a *cough* fixer upper and it has $150,000 in liens and the land it sits on is toxic and is filed with the EPA.
The city doesn’t want to ‘sell’ it. They are just looking for someone they can sue.
Any ‘real’ deals like this, if ever, would never make the papers.
As the Freeper said, if it is too good to be true, you are being had.
Online penny auction + young person with credit card surely equals a maxed out credit card.
A guy at work was bidding (he happens to be an elitist liberal as well). I had to explain to him how easily he was being scammed...seems like every time he put in a bid, somebody else almost instantly bid against him...and there were dozens of ‘auctions’ going on at once, on this obscure website. Maybe, just maybe, he was the only human involved in the bidding...you think?