Alex F.

So there is A LOT of hate out there for penny auctions and honestly, most of it is because people are jumping in without fully understanding how they work.

Some of the most common complaints I've seen are:

1. Yes you have to buy a bidpack to create an account. If you're putting in a credit card, anywhere online, it should be pretty clear that you're making a purchase...

2. Yes, each bid costs money. This is not Ebay, do not go into it expecting Ebay. If you lose an auction, you also lose all of the bids you spent in that auction.

As long as you understand how penny auctions work, you can get some pretty cool stuff and save a decent chunk of change. That's why I'm giving is a 4 star review. I've won some pretty cool stuff on Beezid, and, even once you factor in the cost of the bids I spent, it ended up being cheaper than retail.

Once you factor in the cost of bidding, the savings aren't quite as good as 99% and you can lose money if you're not careful. Don't get mad at Beezid if you didn't read up on how it works...