better than ebay and woot

[Marisa]

I'm confused...i even watched the video. I don't get it.

[Nash B.]

That would mean the site actually sold the car for $36,600. it cost the bidder 0.60 for every bid.

Oh, that's clever.

[Blakeski]

I would love to start a business like this, just seems like the starting overhead would be alot of $$$$

[garycrist]

Ipad for $27 @ .01 per bid = 2700 bids @.60= $1620 what a deal! God I hate math!!

[GrayStangGT]

Ipad for $27 @ .01 per bid = 2700 bids @.60= $1620 what a deal! God I hate math!!

I'm not sure if I understand how it works completely, but in theory if you put 1 bid in and were the last bid you would get an it for .60 correct? Granted the site receives $1620 for a $500 item, but that is not what it cost the winner. Sounds like a hell of a business plan to me.

Edit: It's your # of bids x .60 + ending price=Total

[Jimbo]

I'll have to check this out when I get home. It sounds like a raffle?

[Hmbre97]

Sounds like a hell of a business plan to me.

This. Whoever thought of this is going to make a metric shit-ton of money.

Just watched a $25 Chili's GC sell for $1.35. 135 bids x .6 = $81 + 1.35 = $82.35

Fucking genius.

[bjtheman1]

I still don'tget it? SO if something ends for $2..then the winner pays $2 for it but the site makes a shit load of money off of it?

[Hmbre97]

I still don'tget it? SO if something ends for $2..then the winner pays $2 for it but the site makes a shit load of money off of it?

Yep

[bjtheman1]

Found this one their site:

so each "penny" bid cost me 60 cents...then i have to pay the winning amount (lets say $25.00) plus shipping costs? so if i bid 10 times and the shipping is $5 and the winning price is $25 my total payment would be $36?

That's exactly how it works.

Thing is you purchase "bid-packs" which you use to bid with. Each bid is $.60, thing is even if you make bids on an item and lose the auction you also lose your bids!

[DFWtechie]

This is exactly the same as xbids.com a complete scam IMO I signed up over there and never failed I was high bidder till 1 second left then got out bid. never won a damn thing

[71chevellejohn]

I saw a commercial for one called beezid.com - sounds like the same deal.

[Machx2]

I'll have to check this out when I get home. It sounds like a raffle?

Pretty much, its all luck really.

[GrayStangGT]

I still don'tget it? SO if something ends for $2..then the winner pays $2 for it but the site makes a shit load of money off of it?

The winner pays $2 plus the cost of the bids used during bidding.


To me this seems like a casino/ebay hybrid, its exciting like a casino due to the risk of losing your money in the hopes of a reward. If there is an item that you really want and would be willing to pay full retail to get, I can see it being worth doing since you have the opportunity to purchase the item even if you don't win.

[BP]

I'd rather invest my money in the TX lottery, at least then you could win millions of dollars with about the same odds.