Legitimate Penny Auction Site or Scam?
We've all seen the Beezid commercial on television and they make everything seems so easy. You can get amazing items for pennies on the dollar-even a new car just by bidding on the item and winning. There is much more to this that they do not say on the commercial that you should be aware of. There are cautions from people all over the web who has tried this and other pay per bid bidding sites only to feel as if they have been scammed out of their hard earned money.
Never Pay To Buy Bids On A Penny Auction Site or Any Auction Site
First let me say and I can't stress this enough, if you have to pay in order to bid-then stay away from the site. Many of these pay-per-bid sites employ the use of bidding robots to drive the price up and out bid you, so you lose your money because you lose the bid-however, the site gets to keep the money you paid out for the privilege to bid and lose your money. Makes sense? Say I say I have a brand new colored LCD flat screen television and the bidding starts at $25. You can bid on the television as many times as you wish until you win but each bid costs $1. So you buy $50 worth of bids.
The bidding is quick, so depending on how often you bid, you could actually go through all 50 bids in minutes. So you bid and another person bids and another person bids, but you could also be bidding against robots. By the time you know it, you've gone through all 50 of your bids and the bidding is still going on but you are out, unless you buy more bids.
So when it is all said and done, you have just lost $50 in just minutes and have nothing but wasted time to show for it.
Addictive Gambling-Like Qualities of Fast Paced Bidding
Fast paced bidding gives you almost the same effect as gambling does. In the same way, you can easily lose a lot of money because you are paying for bids, then, you have to pay for the product if you win. So, because it is so addictive, people keep doing it, running out of bids, and buying more bids even though the amount they win, is in no way comparable to the amount they lose. This type of fast-pace bidding where you have to pay for bids is very addictive and you could wind up in financial trouble if you are not careful with it. It is almost like legal gambling.
Complaints Against Beezid.com
There are countless amounts of complaints against Beezid.com. If you look up "Beezid.com complaints" you will find that many people who have tried it, feel that it is a scam. If you do decide to deal with Beezid.com, then it is in your best interest to READ everything before you give them your charge card number or bank account number. READ everything, including the legalities of their dispute policies and print everything out. After you print everything out, put it in a separate file. When you purchase bids, also print out a copy of your account screen as well as a copy of the receipt for bids. Make sure you keep meticulous records to protect yourself. Get all the information you can about the company and don't be drawn in by the commercials with the "famous" people endorsing this website. Protect yourself!
Legitimate Bidding Sites
If you are looking for items at a discount, then try bidding sites with a trusted history such as Ebay, Bidz.com, Bid4assets, government auction sites and Liquidation.com(no"s"). These companies do not charge you to bid, you only pay for what you win plus shipping if necessary. Again, if you have to pay to bid, it's probably a bad idea.