I should read the review before I bought the bids i lost 27dl. Is great business for the owner making money like crazy. but is a rip off as costumer I just back to buy in e-bay where i don't have to buy my bid don't use beezid .
It is great... for the owners. It is a rip-off for the users. Allow me to explain: You purchase bid "tokens" that enable you to place bids on items. :Each bid raises the cost of the item by a penny. You may indeed be able to purchase an item for pennies on the dollar... IF your timing is right and all other bidders have exhausted their bid tokens or given up. How does this website make money selling items for pennies on the dollar? Simple... you don't purchase the tokens for $.01 each... they cost a lot more than that, even if you purchase in bulk. So if they get, say, 1,000 bids ($10.00) on an item that has an; MSRP (Manufacturer's Suggested Retail Price) of $100 and that 1,000th bid wins the item, then it looks like a great deal for the winner, Hey! A $100 item for $10.00 !! But understand that this means there were at leat 1,000 tokens purchased by consumers for the "priviledge" of bidding on this item. At the current MINIMUM price of $.60 per bid token (if bought in bulk, at the time of this review) that means that the website owners made a nice, tidy profit. 1,000 bids x $.60 per bid token = $600.00. Yes, SIX HUNDRED DOLLARS minimum for an item with an MSRP of $100.00... which they probably were able to purchase in bulk for $50.00. Since the bidder has to pay the bid price for the item, let's do the math: Cost = $50 plus the fractional cost of doing business (payroll, bandwidth, servers, etc.). For the sake of argument, let's say their fractional cost is $1 per auction, though it is probably far less. So their cost is $51. The item sold for $10.00 so they will get direct payment from the buyer, thus the item then cost them $41.00 (the buyer pays shipping). The profit? Well, they sold a MINIMUM of $600 in tokens, so... $600.00 - $41.00 means they made a profit of $559.00. Not too bad for a few minutes of work. So the owners of the website are the winners. Does that make everyone else a loser? Well, only one person won the item, and maybe they only spent one token ($.60) to win it. But that means that in our example that 999 tokens were spent NOT getting anything. You only come out ahead if the total amount of tokens you purchase is less than you would have spent on the item in a store. You decide.
It appears that you have to purchase bids to get in on the "huge savings". I am not paying $$$ to buy the right to bid on a product. Huge turnoff and I quit looking at the sight after I saw that little tidbit of information.
Dam thing is still parked. So they bought a domain name, and there is no content as of 3/6/10. Really need some competition for ebay-they are way too expensive for sellers and rights have diminished to a point it is no fun to list anymore-I am bored after 9 years and sick of giving away 10-12% on every little item that sells and 9% for those that don't!
Customer Questions & Answers
Business owners: What’s your side of the story?
Manage your business