IGotWorms 4,059 Posted April 25, 2011 So I was watching TV the other day and saw a number of commercials for this site Beezid. I guess you buy bids ahead of time and then you can "bid" on an item to increase it's value by one cent. Since values only increase a cent at a time you can supposedly get good items a lot cheaper than you would on EBay. My question is: how does it work? Do people sell their stuff on there (like with EBay) or does this Beezid site sell it? Because if people are selling it, why wouldn't they use EBay where they would get more money? And if Beezid is selling it how do they make any profit when they are alleging giving products away at 90% off retail value? Anyone use it or know anything about it? Sounds too good to be true to me. Share this post Link to post Share on other sites
SUXBNME 1,516 Posted April 25, 2011 While not necessarily a 100% scam beezid.com is a fools game. No magic but perhaps a lot of smoke and mirrors. First of all, it is not really an auction site, it is a merchandise selling site that operates somewhat on the same idea as those "Mainliner" slot machines. You buy in essence tokens which allows you to spin the wheels so to speak. Being overly simplistic, once you "spin" the wheels, or make a bid in this case, your tokens, and the money to acquire them are history. In other words, all loosing bids are going to beezid's purchase of whatever the item you bid on costs them plus some percentage to cover operating costs and profit. Somewhere in the scheme of things they more than likely have an item profit level set and once bidding has reached that point the true legitimate timer on the so called auction becomes real time and someone wins the auction. In essence beezid is a form of gambling by anyone's definition. First clue: You buy bids (tokens). Second clue: Once you use that bid (token) it is gone whether you win anything or not. Third clue: There are no cash refunds nor can you cash out. Best advice is to stay away from this site or any like it because like the slot machines in Las Vegas, or other gambling meccas, only a few walk away winners and ahead of the game. For every individual that "wins" anything there are dozen's, if not hundreds, that got Zip point Zero for their purchase of "bids" or in reality "Tokens or funny money." In other words, be smart save your money for a weekend in Vegas or similar place where you know you are likely to walk away with less money than when you arrived. If you are lucky enough to win on that trip at least you can buy something from a reputable business if you like or even stick it into the bank. http://www.antiscam.net/forum/viewtopic.php?f=23&t=1292 Share this post Link to post Share on other sites
IGotWorms 4,059 Posted April 25, 2011 I guess I could've just used Google. Share this post Link to post Share on other sites
southcarolina 166 Posted April 25, 2011 Mike and Mike say they are legit.....how can they not be? Share this post Link to post Share on other sites
WhiteWonder 2,766 Posted April 25, 2011 sux summed it up pretty well... the items are sold by beezid. beezid makes money because customers have to purchase "bid packs" maybe 30 bids for 10 dollars or something. Each bid you make uses one of your purchased bids and it might take 100 bids to finally win the item. You then have to pay the amount of the item you won. So when you win an auction, you are really only winning the right to purchase that item for the amount the auction ended at. you may be winning the item at 30% of face value but it also cost you X amount of dollars in bids as well as anyone else who was also bidding. Share this post Link to post Share on other sites
tubby_mcgee 701 Posted April 25, 2011 http://www.fftodayforums.com/forum/index.php?showtopic=382481 Share this post Link to post Share on other sites
