Beezid.com Real or fake?

[TheCowboy]

Take a look at this site: http://www.beezid.com/

The prices are unbelievable. I read it costs 70 cents to place a bid but c'mon these prices are too good to be true.

Anyone ever try this out?

 

[Temo]

It's real, but the deals you get are a lot less of a deal than you think.

So lets say there's a $500 gift card for auction with a minimum bid of 1 cent above the current max bid. It costs 70 cents to place a bid. So maybe 600 bids take place (not unusual), and the gift card goes for $400. Well the person who eventually wins gets a profit of $100, but in total the money taken in is .70*600+400=$820.

Play with the numbers as you want, but you're basically playing roulette hoping to be the last bid in.

I think in actuality that gift card will go for like $100, but there'll be a thousand bids.

 

[Teren_Kanan]

Whoever came up with this is a ridiculous marketing genius. Seriously. They make SO much money. It's win win for them.


800$ item. Someone is going to win it for like 90$

The company is going to make 5000$+ on it. That is some seriously genius stuff right there.

 

[SDogo]

Best part is if the clock gets under 10 secons and people are still bidding it will keep resetting to 10 seconds. There is an Ipad that has been under 10 seconds for over an hour because people keep bidding.

It would drive me crazy and before you know you it you spent a hundred bucks on a item you just lost.

 

[Signals]

Sounds like a great place for peeps with a compulsive gambling problem.

 

[Reality]

Funny how a large number of the items for sale are bid packs for more bids I guess they don't realize that bidding on bid packs is counter-productive to gaining anything.

-Reality

 

[Reality]

Also, bidders with bad connections or even small amounts of packet loss are screwed on that site

-Reality

 

[CATCH17]

Funny how a large number of the items for sale are bid packs for more bids I guess they don't realize that bidding on bid packs is counter-productive to gaining anything.

-Reality

If you win the tokens for cheap than you have more ammo vs the people use their cash.


So you may get 100 bids for 5 dollars vs someone who got 100 bids for 30.

 

[Temo]

If you win the tokens for cheap than you have more ammo vs the people use their cash.


So you may get 100 bids for 5 dollars vs someone who got 100 bids for 30.

I've noticed some users paying more in bids than the bid packs they're trying to win. It's crazy.

 

[Teren_Kanan]

The website can literally sell money, for 10x it's worth.

That system is incredibly genius. It blows me away. There is no way for them to lose money on a product, and they make multiple times more than it's worth.

But hey, 1 lucky person gets something for really cheap.

Someone got an Xbox360 super bundle for 83$. Not bad.

But when you consider the company is making 70 cents to every CENT of the bid. It's a ridiculous profit.

 

[CATCH17]

I've noticed some users paying more in bids than the bid packs they're trying to win. It's crazy.

It's probably people who have their AUTO Bid turned on.


Notice people make their usernames like "illneverstopbidding" and stuff like that?

They just try to scare you off with the Auto Bid feature + Username.

 

[BrAinPaiNt]

I have made $153k in 2010 using beezid.


Well...I am lying but it sounded nice.

 

[Reality]

If you win the tokens for cheap than you have more ammo vs the people use their cash.


So you may get 100 bids for 5 dollars vs someone who got 100 bids for 30.

You missed the point .. how many bids did you have to SPEND in order to GAIN more bids especially if you do not win the bid pack?

As I said, it is counter productive to bid on bid packs. It's common sense yet it escapes many people.

-Reality

 

[CATCH17]

You missed the point .. how many bids did you have to SPEND in order to GAIN more bids especially if you do not win the bid pack?

As I said, it is counter productive to bid on bid packs. It's common sense yet it escapes many people.

-Reality

Ah I see what you're saying.

I've only scouted the smaller bid packets and they all seem to go around 10 dollars consistently so those wouldn't be that hard to get.

I think thats the way to go.



I think people could take these websites down if people formed groups and shared the money.


Get 4 or 5 buddies and spend about 20 bucks each on tokens and then split the gift card between your buddies..

Also who is to say the site hosts aren't cheating and have people with unlimited tokens boosting up the price illegally.

 

[Reality]

Ah I see what you're saying.

I've only scouted the smaller bid packets and they all seem to go around 10 dollars consistently so those wouldn't be that hard to get.

I think thats the way to go.

If you can find a system that works and provides an advantage then I could see the benefits definitely.

Also who is to say the site hosts aren't cheating and have people with unlimited tokens boosting up the price illegally.

That is a real concern especially for non-publicly traded companies. I had this happen on a service I was using a few years ago. A employee for the company was using an automated system to submit fake bids to drive up prices on auctions. A class action lawsuit was either filed or threatened and the company refunded money to all people who overpaid .. well to the ones that agreed to forgo any future legal claims against the company. However, the refund neglected to account for a lot of the unique items that were lost to interested bidders.

I would be very concerned with questionable bids in a service like Beezid that not only encourages microbids but also charges for them.


-Reality

 

[Kristi]

There are A LOT of sites like these. My dad tried BidSauce last year and he got a few gift cards to Olive Garden, Chilli's, and Red Lobster for fairly cheap, but basically just got what they were worth in the end with losing on other bids. He got most of his bids early in the morning, but people caught on to that quickly.

There are a few lucky ones that get in on a last minute bid, but most people bid A LOT and on multiple items. Just sit and watch the site for awhile -- some crazy people out there bidding away - autobid or not. I think dad bought 100 bids when we did it and we spaced em out to last awhile. I can't believe the people that are clicking every second. I always wonder if they realize how much they are really spending? Say you get an iPod for $20 bucks (2000 bids), but how many bids did you have in it? A $20 iPod is a really good deal -- probably could have gone and bought an iPod if they add up all their clicks in that 2000 bids.

The bid boxes don't cost the site owners a thing (free money for them) and they bank big on everything they sell on there. It's a marketing genius plan that's for sure.

 

[CanuckCowboysFan]

The creator of that site is a legit genius. Literally, what a brilliant idea. This guy will make millions.

 

[theogt]

The creator of that site is a legit genius. Literally, what a brilliant idea. This guy will make millions.

Or just copied someone else's idea.

 

[BrAinPaiNt]

I wonder how many gambling addicts bid for stuff on sites like that.

No I am not saying everyone that does online bidding is a gambling addict.

However I do wonder how many are.

Some of that sounds like someone a gambling addict would be doing...just sitting there hitting bid over and over without caring.

 

[CanuckCowboysFan]

Or just copied someone else's idea.

Ok, then that guy was a Genius. Whoever created it is simply a genius.