Putty Posted February 17, 2011 Report Share Posted February 17, 2011 I keep hearing about this place and people getting new shit like iPads for 38 bucks. There has to be a catch Quote Link to comment Share on other sites More sharing options...
greg1647545532 Posted February 17, 2011 Report Share Posted February 17, 2011 All penny auction sites are scams. Not in the usual sense -- the rules are plainly laid out and nobody is getting duped. However, they prey on a weakness in the human mind that makes people not realize they're getting fucked. Quote Link to comment Share on other sites More sharing options...
Putty Posted February 17, 2011 Author Report Share Posted February 17, 2011 How are you getting duped if you get an item for a fraction of the cost? Quote Link to comment Share on other sites More sharing options...
Skinner Posted February 17, 2011 Report Share Posted February 17, 2011 for starters if you don't win you lose that bid money. Quote Link to comment Share on other sites More sharing options...
Linn1647545492 Posted February 17, 2011 Report Share Posted February 17, 2011 How are you getting duped if you get an item for a fraction of the cost? You have to pay for each bid you make on the iteam and in some cases you are paying $.25 per bid. They are not scams. Quote Link to comment Share on other sites More sharing options...
Alfa Turbo Posted February 17, 2011 Report Share Posted February 17, 2011 Read teh rules... you pay to bid, each bid, every bid. How much does a bid cost? How many pennies in a dollar? Do the math. You said it yourself, "There has to be a catch" did you not hear that? Quote Link to comment Share on other sites More sharing options...
Alfa Turbo Posted February 17, 2011 Report Share Posted February 17, 2011 Linn, some are a buck a bid! Quote Link to comment Share on other sites More sharing options...
Linn1647545492 Posted February 17, 2011 Report Share Posted February 17, 2011 Linn, some are a buck a bid! WOW! Quote Link to comment Share on other sites More sharing options...
Putty Posted February 17, 2011 Author Report Share Posted February 17, 2011 Read teh rules... you pay to bid, each bid, every bid. How much does a bid cost? How many pennies in a dollar? Do the math. You said it yourself, "There has to be a catch" did you not hear that? I didn't read shit...I said I have been hearing about it. What better place to get the inside scoop than the Parking lot. Quote Link to comment Share on other sites More sharing options...
Putty Posted February 17, 2011 Author Report Share Posted February 17, 2011 You have to pay for each bid you make on the iteam and in some cases you are paying $.25 per bid. They are not scams. OK, so I get it. You pay upwards of a dollar to make every bid. If you bid 50 times for $50 bucks and you lose, you lost $50 bucks. If you win, you won for $50. That sounds to me like a lot auction sniping and a chance of luck if you actually win. More or less, FUCK THAT /thread Quote Link to comment Share on other sites More sharing options...
AWW$HEEET Posted February 17, 2011 Report Share Posted February 17, 2011 $38 IPADS COMPLETELY LEGIT Quote Link to comment Share on other sites More sharing options...
Putty Posted February 17, 2011 Author Report Share Posted February 17, 2011 $38 IPADS COMPLETELY LEGIT I just used $38 and iPads as an example. Quote Link to comment Share on other sites More sharing options...
Fubar231 Posted February 17, 2011 Report Share Posted February 17, 2011 OK, so I get it. You pay upwards of a dollar to make every bid. If you bid 50 times for $50 bucks and you lose, you lost $50 bucks. If you win, you won for $50. That sounds to me like a lot auction sniping and a chance of luck if you actually win. More or less, FUCK THAT /thread I think they mean You still pay .01 per bid, and a additional $1 on top of it. So you bid on a item 50 times, costs you 50 cents in the bids, and then an additional $50 goes to the company. If you win, you got the item for $50.50, but if you lose, your still out $50 and keep your 50 cents lol. Quote Link to comment Share on other sites More sharing options...
black00ws6 Posted February 17, 2011 Report Share Posted February 17, 2011 Yes it's a legit.. just a pyramid scheme. Saw a 64 gig ipad go for around 140. It was .60 cents a bid. Some simple math shows this company is getting RICH. 60 cents a bid.. 100 bids in a dollar. 60 bucks every dollar, 60 * 140 = 8400 bucks; so this company made 7700 on an ipad. BRILLIANT!!! Quote Link to comment Share on other sites More sharing options...
Ramsey Posted February 17, 2011 Report Share Posted February 17, 2011 Yes it's a legit.. just a pyramid scheme. Saw a 64 gig ipad go for around 140. It was .60 cents a bid. Some simple math shows this company is getting RICH. 60 cents a bid.. 100 bids in a dollar. 60 bucks every dollar, 60 * 140 = 8400 bucks; so this company made 7700 on an ipad. BRILLIANT!!! so you could pay the 60 cents for the bid and the final price and walk away with a 140.60$ ipad? if it only took 1 bid? Quote Link to comment Share on other sites More sharing options...
greg1647545532 Posted February 17, 2011 Report Share Posted February 17, 2011 Exactly. And any company that can sell an ipad for $7700 is fucking somebody. People think they're not going to be that "somebody." And that's the flaw in the human brain they're taking advantage of. Quote Link to comment Share on other sites More sharing options...
Richard Cranium Posted February 17, 2011 Report Share Posted February 17, 2011 I was wondering what the catch was. I have seen the commercial a lot and it didn't sound right to me at all. Hmm, paying to bid, and forcing the bids to run in small increments (no big jumps) so there are lots of bids. Sounds almost like a lottery with the last bidder getting the item, but everyone else pays to play. Quote Link to comment Share on other sites More sharing options...
unfunnyryan Posted February 17, 2011 Report Share Posted February 17, 2011 this shit is fucking genius Quote Link to comment Share on other sites More sharing options...
Linn1647545492 Posted February 17, 2011 Report Share Posted February 17, 2011 I think they mean You still pay .01 per bid, and a additional $1 on top of it. So you bid on a item 50 times, costs you 50 cents in the bids, and then an additional $50 goes to the company. If you win, you got the item for $50.50, but if you lose, your still out $50 and keep your 50 cents lol. Not only do you have to pay for the iteam you bid on but, you also have to pay for the bids. If you lose the aution you also lose the money you paid per bid. Quote Link to comment Share on other sites More sharing options...
Linn1647545492 Posted February 17, 2011 Report Share Posted February 17, 2011 (edited) this shit is fucking genius Yes, these sites with enough memebers can make a TON of money. Edited February 17, 2011 by Linn Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted February 17, 2011 Report Share Posted February 17, 2011 Not to mention that while some lucky sob got an Ipad for $38 the company probably made thousands off of everyones non-refundable bids. Quote Link to comment Share on other sites More sharing options...
Putty Posted February 17, 2011 Author Report Share Posted February 17, 2011 Not to mention that while some lucky sob got an Ipad for $38 the company probably made thousands off of everyones non-refundable bids. According to John, they made $7600 on the iPad. The smo that won doesn't care...He got an iPad for $38.60 Quote Link to comment Share on other sites More sharing options...
black00ws6 Posted February 17, 2011 Report Share Posted February 17, 2011 a LG 47 inch 3D LED tv sold for 190.29 (buy at best buy for 2599.98 47LX6500) Company made over 8800 on this TV... who wants to invest with me and start up a site just like this. Quote Link to comment Share on other sites More sharing options...
Alfa Turbo Posted February 17, 2011 Report Share Posted February 17, 2011 It's more akin to roulette (gambling) than the typical or traditional acution or bidding scenarios we have come to know. You pays your money, pick a number and.... oh, so close so you pays some more monies and picks anover numbers and oh... almost... fer sure jus' one more time... gonna buy me some more bids and wins me an ipod. There are hundreds if not thousands of these sites and they are surprisingly ALL on the web so, they gotta by legit... right? Quote Link to comment Share on other sites More sharing options...
Linn1647545492 Posted February 17, 2011 Report Share Posted February 17, 2011 a LG 47 inch 3D LED tv sold for 190.29 (buy at best buy for 2599.98 47LX6500) Company made over 8800 on this TV... who wants to invest with me and start up a site just like this. I have a client that is looking for funding right now for his site. http://www.bids4cheap.com/ Quote Link to comment Share on other sites More sharing options...
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