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| Thread ID: 102188 | 2009-08-10 08:55:00 | Super-cheap-auction sites | Chilling_Silence (9) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 799927 | 2009-08-10 08:55:00 | http://nz.ipennybid.com/ Legit? Buying "Bids" ...? I'm desperately wanting it to be true but my gut instinct screams SCAM :( |
Chilling_Silence (9) | ||
| 799928 | 2009-08-10 09:01:00 | It's quite new. The domain registry says it was registered 11-JUL-09. You could always bid, and see what happens. Try to get hold of a real person, but never hand over your credit card details. |
somebody (208) | ||
| 799929 | 2009-08-10 09:08:00 | Already been done. A site from Aussie was doing 25c bids I believe. From the looks of things each bid adds on a whole 1c but it costs YOU on average 60c to actually bid. |
trinsic (6945) | ||
| 799930 | 2009-08-10 09:08:00 | Also, you pay per bid, regardless of whether you win the auction or not. I suspect that they could easily have a bot which pushes up the bid. Since you can only bid $0.01 at a time, if the winning bid is say, $13, they would have already made $400 in "bid fees" alone from the 1300 bids it would have taken to reach that price. | somebody (208) | ||
| 799931 | 2009-08-10 09:16:00 | Also, you pay per bid, regardless of whether you win the auction or not. I suspect that they could easily have a bot which pushes up the bid. Since you can only bid $0.01 at a time, if the winning bid is say, $13, they would have already made $400 in "bid fees" alone from the 1300 bids it would have taken to reach that price. Knew it was too good to be true! |
Blam (54) | ||
| 799932 | 2009-08-10 09:21:00 | Thats fine by me provided Im the final bid :p | Chilling_Silence (9) | ||
| 799933 | 2009-08-10 09:25:00 | Thats fine by me provided Im the final bid :p Good luck :) The more I think about it, the more this site seems like a stroke of genius. It's a fantastic business model, that can easily make a ton of money by getting people "hooked" on bidding (almost like gambling really). All they have to do is depend on enough people who want to be the final bidder. |
somebody (208) | ||
| 799934 | 2009-08-10 10:04:00 | Seen a few sites like that now. Really is genius. However have seen some stuff go for really cheap to the winner bidder, or rather final bidder, but being that final bidder im sure is not easy. | --Wolf-- (128) | ||
| 799935 | 2009-08-10 10:56:00 | MMmmmm..... Definitely a clever scheme :D | Chilling_Silence (9) | ||
| 799936 | 2009-08-10 11:03:00 | Q. This sounds too good to be true, how do you make money giving away items for such a low price? A. We are able to run a successful business by charging each user for the bids that they place. As shown on our home page, bids can be purchased in packages. |
pctek (84) | ||
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