Beezid.com - Ever use it?

[StrangeRanger]

Just wondering if anyone has ever used Beezid and actually won an "auction"? Like, how much friggin' time would need to simply sit there and watch and bid and bid and bid....
j

 

[Chronoshock]

This is the same scam as Swoopo. Avoid like the plague. Only way to win is not to play

 

[AnonymouseUser]

They make money on the bids, rather than the final sale price of the items. This way you spend money whether you "win" the auction or not.

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[AMDZen]

I don't get it

 

[Codewiz]

Basically it costs money to place a bid. So the auction company is making tons of money no matter what the item sells for. The auctions don't really have an end date because the end will get extended if a bid is place every 20 seconds.

Basically I see it as blind luck if you manage to be the winning bidder.

 

[Proprioceptive]

It's a money pit. Don't do it. My cousin thought it was interesting and I warned her against it, and she ended up spending almost $650 with nothing to show for it. It's like a gambling addiction. Just say no.

 

[AnonymouseUser]

I don't get it

You buy bids, then use those to bid on an auction. If an auction starts at 1 cent, but ends at $2, then 199 bids will have been placed. If each bid costs an average of 10 cents each, the total spent by bidders on that auction would be $21.89 (199 bids x $.10 per bid + $2.00 final price = $21.90). The winner may actually get a good deal in the end, but the losers still spent money for the privilege to bid.

Not interested.

 

[AnonymouseUser]

I did some googling, couldn't resist, and it turns out the bids cost $1 each! My math above is way low, so let's adjust:

If an auction starts at 1 cent, but ends at $2, then 199 bids will have been placed. If each bid costs an average of $1 each, the total spent by bidders on that auction would be $201.00 (199 bids x $1.00 per bid + $2.00 final price = $201.00)! 🙄 D:

Even though the product price is only going up by a penny, you’re actually spending a buck for each bid.

 

[StrangeRanger]

I did some googling, couldn't resist, and it turns out the bids cost $1 each! My math above is way low, so let's adjust:

If an auction starts at 1 cent, but ends at $2, then 199 bids will have been placed. If each bid costs an average of $1 each, the total spent by bidders on that auction would be $201.00 (199 bids x $1.00 per bid + $2.00 final price = $201.00)! 🙄 D:

Even though the product price is only going up by a penny, you’re actually spending a buck for each bid.

That was my thinking too. I didn't join or place any bids but I did watch for a couple minutes and was amazed to see how fast the bids went up and were placed. That site must be making $$$ by the fucking boat load!

 

[KillerCharlie]

I wish I came up with this idea.

 

[snooker]

I an a user of a few of the penny auction sites and it does take some skill and luck to win auctions. I have "won" several auctions, some I got the item for pennies on the dollar, others I only saved a few cents or dollars. The best way to approach these auction sites is to go there with the intention of purchasing an item up for auction (You can purchase it at retail price with the bids you placed being deducted from the final price. That only works on paid for bids. Not voucher bids, which you can bid on as well. I go there with the intention on getting a, lets say a camera. I find one I like, I note the retail price of it (Some auction sites are way over the retail price so do your homework). I purchase that much in bids, and then wait for the auction to start. I will place a few bids right out of the gate, just to see how many people are watching it from the start. That will tell me to either wait a while, or keep on bidding, depending on how many others bid within the "first" final 15-20 seconds (Each site has their own timer set). I have done it several times, and I have not once had to use all my bids and then buy it for "Free" and only pay for the shipping. I always end up getting whatever I want for cheaper then in any store, and have many bids left over to use the next time too.

I only use 3 sites:

http://www.quibids.com
http://www.catchbids.com
http://www.xbids.com

Also a little tip if you are interested. Early in the AM EST (2-5AM) seems to be the best time to bid on something. Things seem to sell for cheaper then say 4 in the afternoon. One site I watched an Ipad 32gb start at 3pm and go until 8pm and sell for $125.00. Another started at 1am and was over within minutes and sold for $0.27!! I kicked myself in the rear for not wanting an ipad bad enough to buy bids for one and start bidding on one, specifically that one ;-)

Anyway, they are money makers for the companies running then, and they do give great deals to winners, if you know how to work the system, or get lucky.

 

[snooker]

on the same note, just a hint of how big some of these companies are, and how much money they are making, quibids was on the news the other day and stated they have 80 employees. That is alot of paychecks to pay.....

 

[SirStev0]

crazy stuff. Plenty of dumb housewives and people on disability sitting around playing on sites like this.