Has anyone ever tried those online auctions?

[JohnS.]

I keep seeing these online auction sites come up here and there. wavee is one of them. Basically 1 bid is $0.75. Some bids go up a penny at a time (1 bid) or more, depending on the auction. There is a timer per bid, that starts counting down from whenever it starts. Anyone bids during that count down. When it reaches 20 seconds, every bid refreshes the counter until no one bids anymore.

So let's say you're at a penny-per-bid auction. For example: let's say 200 people from around the world are involved and every one bids 100 times. The website just made $15,000 from people buying bids alone. The item closed at $200 and let's say it retails for $600. You spent $75 to be able to bid 100 times to win something at $200. Sounds pretty good.

But is it too good to be true?

 

[4bangincivic]

Wait are you taking about that one Ebay site?

 

[mymmeryloss]

i have been seeing these commercials all over too.

would be interesting to see if its worth a f**k.

getting a big ass lcd tv for $50 would be nice..

 

[XpL0d3r]

http://www.ajaimk.com/2010/05/01/how-wavee-makes-money-the-math-behind-the-startup/

I see how this works.. not too bad

EDIT: Tried signing up to see what they wanted me to do.. You need to purchase at least 30 credits.. which is $22.xx... each credit gives you a bid... not worth it IMO, because people will always outbid you. I've been watching an iPad go up for the past 5 minutes with 20 seconds left.. every time someone bids a penny it goes up to 20 seconds again... lame

 

[Kswest]

http://www.ajaimk.com/2010/05/01/how-wavee-makes-money-the-math-behind-the-startup/

I see how this works.. not too bad

EDIT: Tried signing up to see what they wanted me to do.. You need to purchase at least 30 credits.. which is $22.xx... each credit gives you a bid... not worth it IMO, because people will always outbid you. I've been watching an iPad go up for the past 5 minutes with 20 seconds left.. every time someone bids a penny it goes up to 20 seconds again... lame

Yes, though typically they go from 20sec down to 10sec and sometimes down to 5sec, which requires a pretty quick internet connection to refresh and bid at the same time.

 

[mymmeryloss]

sounds like a scam...

 

[civic209]

dont do it man...ive tried it...lost over 100 dollars trying to buy something...and i got nothing!!
it seems so easy you know but no theres always someone else bidding and your always going to get outbid...hell i eve tried to get some camera or something and bam...i kept bidding but as soon as the time was going down another one would bid and time would increase by 20 seconds or so and if your still the bidder when time goes down to zero you get it...but fat chance.


So.......Dont do it

 

[JohnS.]

Yeah. You literally have to be sitting there for hours in order to win something.

I don't have the time to do this. I was just wondering if anyone has actually done it and gotten something out of it.

 

[sohclubkid]

just keep a look out on ebay for stuff your looking for... try mis-spelling what your looking for, or just watch a s**t load of the same items and bid on them all at the auctions end.
ive got many great deals on their using those tricks.

 

[el_betiyo]

Beezid.com

I just signed up recently and that's what I've been doing lately at work. I bid and won the "100 Bid pack" for $39.29 instead of the $70.00 price

I've been watching for something good to come along to buy during my work hrs..........

 

[civic209]

cant say i didnt warn you guys..