What's the deal with the new eBay Auctions where the losing bidders get paid money ?

[deftron]

I'm looking at these ebay mystery auctions and most have some kind of chart that's like

First person to bid $1000 will receive: $150
First person to bid $1500 will receive: $200
First person to bid $2000 will receive: $250
First person to bid $2500 will receive: $300
First person to Bid $3000 will receive: $350
First person to bid $3500 will receive: $400
First person to bid $4000 will receive: $450
First person to bid $4500 will receive: $500
First person to bid $5000 will receive: $1000
First person to bid $5500 will receive: $1500
First person to bid $10000 will receive: $2000



And they guarantee thier "mystery item" is worth so much money.

These things are selling like crazy
And totally endorsed my eBay (Mystery Auctions have their own category)


Anyone here sold one of these before ?

 

[mercanucaribe]

eBay gambling.

 

[DrPizza]

really????
sounds like a scam to me.
Otherwise, anyone can set up a program to do all the bids up to 5500 consecutively between "two" different bidders.
They'd get back 5100 for a 5500 bid. If the item is worth >400, they make out well. If someone outbids them, they make out even better.

Sounds pretty fishy to me!

 

[SophalotJack]

Total scam.

The people who are "supposedly" getting money are in on it... except for the last person. last person = the mark.

Technically, it's scammers gambling that someone stupid enough is willing to pay $2500 for an "antique" of some sorts.

It would be pretty hard to get someone to go up to $10k.... but that is why that is there, to fool the people who would actually spend $2500 on a mystery and hope it is worth $10k+.