Beezid.com, quibid.com and swoopo.com

[Tommy Boy]

These are those websites where you buy bids and bid on penny auctions and you can win stuff at ridiculously low prices. I've checked them out, I know how they work, I know their money making model but I'd like to know what you guys think of them?

You think it's a scam or what? I don't typically trust these types of sites because it seems too good to be true, and to me, that isn't something I want to be involved in.

Has anyone used any of these sites or any like them? Have you actually won anything and what was it like?

Thanks guys

 

[David Lindon]

Well I just checked that quibid.com site and that is just crazy, everyone someone bids, they add a few seconds to the auction, so basically it just keeps on going for ever. I saw a laptop still going at $20.32, supposing a $0.01 start bid (http://www.quibids.com/auction.php?id=362398774) so imaging 2,000 bids at $0.60/bid, that site is making massive profit!

 

[Tommy Boy]

Yep they are making tons of money. And yeah, in the final seconds of the auction when someone bids it adds between 15 and 30 seconds on the timer depending on the product. I think it's a genius money making business model for them but I'm concerned about how much money you'd spend before you actually win something. You have to outlast other bidders and who knows how long that would take.

 

[VINMAN46]

i wonder how much shipping and tax is on those items

 

[David Lindon]

Yep they are making tons of money. And yeah, in the final seconds of the auction when someone bids it adds between 15 and 30 seconds on the timer depending on the product. I think it's a genius money making business model for them but I'm concerned about how much money you'd spend before you actually win something. You have to outlast other bidders and who knows how long that would take.

You probably have to use $500 worth of bids to win, and then some new person can just enter the auction right at the end