Penny auctions

LS.

LS.

Active member
anyone ever use these ?

what sites do you use?

people claim to get ipads for 13 dollars idk if its legit
 
its a complicated system but some of the sites are legit. you have to pay a certain amount to be allowed to bid, making the bid much more expensive than it seems but im not an expert, so dont base anything on my answer
 
there is beezid.com, that i have seen advertised on tv, but nah never used a penny auctions site. iunno bout them but i hear you get crazy deals
 
from the site's I have seen, this seems to be how the scheme works. 1. People buy bids at say $.20 per bid. (So it costs you to pledge money to buy an item) 2. Item starts at $.01 and each bid raises price by $.01 ( or some other small amount) and increases the time left on the auction by 10-15 sec. 3. People bid, thinking that $.20 is a small price to pay to win an expensive item such as an ipad for a small amount. Auctions typically have about 1min max time, so it looks like it's JUST about to go out, and people bid. 4. There is a MASSIVE Hype train because it is a subtle scheme, so people keep bidding. 100 bids = $20 for the site running the auction, and the item has increased in price $1. By the time the item has reached $50, the site has already generated $1000 in cash, and they haven't even sold the item yet. Huge profit margins for the sites running these, and I do believe they are legit.
Also... I have been looking into it... at the end, someone inevitable ends up with an expensive item for little cost. (if you havent bid 100 times). There is probably a way to exploit it and get expensive stuff cheap... but idk.
 
quibids!!!!!!!!!!!!!!!!!!!!!!!!!!

i used it and got a xbox game and a hard drive, very legit

pm me for referral
 
so you have to pay all of your bids even if you don't win? why wouldn't people just keep bidding because they wouldn't want to lose and pay $ for nothing, then the item would get bid up to a realistic price?
 
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