Is this real? Anyone win anything from this site before?
- Thread starter bkkoo78
- Start date
http://www.squidoo.com/bidhere
According to them, you need to know exactly when to start bidding, so you don't pay a huge sum of money and not win the auction. You need to pay them every time you place a bid, so they get money from that, so there is no need for them to scam people. However, do look around for more opinions before you get anything there.
However, looking at their ended auctions page, I can see how they make money. I saw a D700 + 24-70 f2.8 that went for $110.08. That looks dirt cheap but it actually works out to $4678 that they get in terms of bids (each bid costs $0.85 and raises the price by $0.02). They say you save $5068.82 by buying at that price. But that's based on the retail price. They would probably get it cheaper, so they don't lose much or they can even earn from that. There are other auctions where the savings are less. Like a D3100 that went for $127.84, which works out to 6392 bids (all auctions start at $0) which is $5433.20 that they make from the bids. They earn a hell lot from that, and in reality, they don't have to scam people to make money, and scamming won't make them as much as buying bids would.
I think it's a matter of knowing when to bid. If you don't, you'll end up losing a lot of money. If you do, you can even earn money from buying from them and then selling off in B&S.
According to them, you need to know exactly when to start bidding, so you don't pay a huge sum of money and not win the auction. You need to pay them every time you place a bid, so they get money from that, so there is no need for them to scam people. However, do look around for more opinions before you get anything there.
However, looking at their ended auctions page, I can see how they make money. I saw a D700 + 24-70 f2.8 that went for $110.08. That looks dirt cheap but it actually works out to $4678 that they get in terms of bids (each bid costs $0.85 and raises the price by $0.02). They say you save $5068.82 by buying at that price. But that's based on the retail price. They would probably get it cheaper, so they don't lose much or they can even earn from that. There are other auctions where the savings are less. Like a D3100 that went for $127.84, which works out to 6392 bids (all auctions start at $0) which is $5433.20 that they make from the bids. They earn a hell lot from that, and in reality, they don't have to scam people to make money, and scamming won't make them as much as buying bids would.
I think it's a matter of knowing when to bid. If you don't, you'll end up losing a lot of money. If you do, you can even earn money from buying from them and then selling off in B&S.
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So, actually those people who bid and didn't win are the ones who pay for the item of the winner? (minus what the winner pays him/herself)
Yup, that is basically how the company makes the money. The people who don't win the auction have paid for the bids.
Before anyone starts bidding into the site I mentioned,
PLease read this... Becareful
http://forums.whirlpool.net.au/archive/1307530
PLease read this... Becareful
http://forums.whirlpool.net.au/archive/1307530
There are people who say it's a scam, I'd say there is no reason for them to scam the winners and not deliver the goods or things like that. The system is just like gambling, except you don't increase your chances of winning by bidding more. If you got some brains and a good amount of luck you can actually get very good deals there, but if you're out of luck you'll just wind up wasting all your money. I don't see why they need to scam people. It can be a totally legit business model, and it works for both the site/company and the guy who wins the auction. If you lose, well, you were gambling, they didn't scam you. You were just out of luck.
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That is what I was thinking too... but after reading the experiences in that forums... I will think again,
Yes I'd much rather buy something on ebay, at least I can be sure of how much damage I'll take to get the item I'm trying to buy. I'm not paying to enter some raffle to get a chance to win something I want
Well, this is my thought..
If i were the admin or programmer behind of this site i could easily bid with a so-called "virtual userid" just before the bidding ended.. (simply create a schedule job to handle this). Very simple..
If the total amount of real bidders still not more than item's value then don't let it go to the real bidder but instead to the "virtual" bidder which is they themselves..
Basicly just to make sure the item is not taken by the real bidder..
Maybe once in a while after the total amount of the real bidder exceed the item's value then let go it to the real bidder (winner) just to cover the scam..
Anyway that's just my thought about the loophole of this type of bidding..
I'm not saying that this particular site (mentioned above) doing such thing.. But it may or may not.. You never know..
If i were the admin or programmer behind of this site i could easily bid with a so-called "virtual userid" just before the bidding ended.. (simply create a schedule job to handle this). Very simple..
If the total amount of real bidders still not more than item's value then don't let it go to the real bidder but instead to the "virtual" bidder which is they themselves..
Basicly just to make sure the item is not taken by the real bidder..
Maybe once in a while after the total amount of the real bidder exceed the item's value then let go it to the real bidder (winner) just to cover the scam..
Anyway that's just my thought about the loophole of this type of bidding..
I'm not saying that this particular site (mentioned above) doing such thing.. But it may or may not.. You never know..
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