Is it legitimate? I hear people get good deals there. I also hear people refer to them as scams Should I jump into it too?
I do think it is scammy, but make sure you know what you are getting into. The idea is legitimate, but there is some fine print, so make sure you know all of that
you should search for my old post. the first couple auctions u are in you will win so easily. everything after that is impossible.
The truth is you need to read up on them. You really aren't paying a penny for each bid. They have marketed this really well. It plays with the psychological aspect of humans. A site like quibids charges .60 cents per 1 bid token or penny. once you place a bid you don't get that bid money back if someone outbids you. So you might sit there and go through about a ton of bids before the auction ends because it finally ends when no more bids come through. If a someone bids more time is added to the auction. Now lets see how much this company makes on a simple item. For one thing because it sells for 15.00 dollars it doesn't mean they didn't make any money on the item. For instance there is an iPad that just sold for $28.69. So in actuality, there was a total of 2869 bids. Each bid cost the user .60 so if you do the math .60 X 2869 = $1721.40. Then add the 28.69 it sold for that you have to pay. Yes they sold that ipad to one person for cheap as hell and could have taken 100 bids or more, but the truth is they made a hell of a lot of money on the bids. The model is genius but not a penny per bid like everyone thinks.
