How do sites like beezid make money

Michael Pruser. The way a penny auction works is simple. The price starts at a penny and the auction is timed for four hours. As time winds down, customers can place a bid, which will add one cent to the auction price, as well as 15 seconds to the time remaining. Once the time runs out, the highest bidder wins, no matter the price. Often times, the final bid is a pittance compared to the actual cost of the merchandise sold, allowing penny auctions to easily advertise the amazing deals.

Beezid a Scam? Can you LOSE Money on Beezid?

Unless you use an ad blocker, you probably notice ads for penny auction sites from time to time. This works because unlike eBay each bid costs money e. You have to be the highest bidder when the clock runs out to win the auction. The problem is that each bid adds ten seconds to the countdown which gives other bidders the time to counter your bid. Penny auction sites are not something new and have been criticized a lot, which makes you wonder how they are still in business. Even though there are many news articles about online penny auctions, I did not find any numbers or statistics which would support the criticism. So I started to collect information on my own, to get a better understanding how these auctions work in reality. What I found exceeded all my expectations. On beezid. The winner of this auction only spent 80 cents on his or her two bids. In the second half of this blog post, I will outline the data collection process.

Beezid Headquarters

The way beezid. First, they give their users many different options how they can make a bid. Users can, for example, use automatic bidding bots, take advantage of price limits above which the auction price will not rise, and purchase a wide variety of other supposedly useful add-ons. Second, they try to hide all information that could reveal how many people are participating in the auction and how much they already spent in total. Another strange rule is that bids do not always increase the auction price by one cent but can also lower it by some amount. Many articles about penny auctions e. This lack of transparency combined with the many different bidding options creates a system which gives users the illusion that they could make a profit with the right strategies. To collect the data for this blog post, I wrote a simple script in Python which automatically saves the all bidding information of a beezid.

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Sure, you can find a deal. But sometimes, the costs add up.

The idea is easy enough to implement. You pick a niche, generate traffic, and then sell that traffic your products and services. Here, you may also come across a selection of gadgets, cars and car accessories. Won 10 items but received only one. For example, you may be asked to review the search results for a given keyword, translate a paragraph into another language, or categorize the tone and feel of an article. Do you consider yourself a crafty person? This feature has the ability to out-bid others such that you have a higher chance of succeeding with your bid. But, did you know you could earn a living managing social media accounts? You can also obtain an ESL certification to increase your chances of success and getting hired for the job. Yes 9. My advice is to get off the website and don’t look. The process is simple. I call and all I get is an answering machine promising me they will call me .

We use cookies for analytics, personalization, and ads. Tip for consumers: Just don’t use this site unless you want your children forcefully sold to Chinese monks who will eat their hair. It’s common sense. Who the hell would trust a bee with a mustache? Whe I signed up there was NO mention of buying bids.

My oly saving saving grace was filing a fraudulent charge on your card You will have to close the card, but it is worth it. I don’t know how long ago you made the acct, but i would get on the phone with the bank first thing tomorrow and handle.

They are crooks, but you have to learn your options whe you make the mistake of signing up with. I hope this helps. I lost a lot of money thousands on this website because I obviously fell for it hook, line and sinker and, of course, your coach will keep getting you to buy bids until you are broke, just like in any casino.

That is all these sites are is gambling. The house always wins, them being the house and if you do win something, most of the cheaper stuff is just that Cheap. Looked on there the other day and they actually had paper towels to bid on. I don’t know how they get away with calling this an auction site.

I have been to plenty of auctions and if you don’t win the bid, then you don’t lose your money unlike. When you first sign up they will make sure you win and then it’s downhill from. They change the rules all the time to suit themselves. And you will never convince them that anything is wrong, they won’t give you back 5 bids—too greedy. My advice is to get off the website and don’t look.

They will start calling and not let up!! The last time I posted here, I heard from them the next day and they asked me to take my comments down—if they are so legitimate why would they do that? Needless to say, I didn’t. I didn’t get that far with.

I cancelled my credit card before they could charge me. Most of the bids only cost. You can see the average cost of the «winners» bids when the aution closes over on the right side of the screen YES the same bidders are in there most all the time, so called power bidders Their «Coaches» It is BULL!! In your question you asked,»Why is everyone giving you bad reviews?

Who are you referring to? This is just a site that warns people about fraudulent encounters with a broad range of Companies. Please be more specific with your question or just be smart and read all the reviews and take it how it is. Sorry I couldn’t answer your question, but if you’re planning on being another victim for Beezid to rip off, that’s your choice.

We just try to stop people from being ripped off by these so called Companies. Bidding on Beezid is like gambling at a casino. If you get lucky and win something, great, but don’t count on it. That’s what keeps them in business. Unfortunately for the unsuspecting, they are liars, scammers, and con artists.

It’s best to cut your losses, walk away, and never look. There is no correct answer for. It all depends on who has the most «Points» or «Other». Don’t believe for a moment that it is «easy» as they like to say. Go to a real Bidding Site, like eBay or other that ends when it ends and you either win or lose. You’ll be on this one for ever! I agreed to «call of the dogs» if they refunded my money, and so I’m going to abide by my promise. I compared them to a con artist from a fair — they fish you in and then keep charging you.

They have so many types of bids and claim they will sell you large amounts of bids only a little money, but do not tell you that the bids are not really worth.

They try to talk you into bidding on really worthless cheap items and then charge you large amounts to ship the item. I would call my credit card company and complain. Maybe if enough of use complain they will stop allowing the charges.

Beezid reviews. Write a Review Ask a Question Share. Another app for getting lowest discount on items you choose from online. The site had so much adds and it made my phone freeze up at times its gone lol. Yes 3. Yes 2. Did not send items won nor answer complaints.

No wonder they want «up front» money. I live in Central America, but have things shipped to a Houston address. I knew after a while that this site was a scam and they still owe me items and money in my wallet!! Any idea how I can get reimbursed for this scam?? Yes 5. Won bid for LG 47 how do sites like beezid make money television, but got a call telling me that it was no longer available??

After I requested a full refund, my account was locked out and they didn’t refund my remaining balance. Stay away! Yes 9. I keep hearing about a lawsuit. How do I go about getting in on That? I was con’ d out of money with beliefs of being able to buy stuff cheap. It is impossible to buy anything without the help of a representative. Hate this crappy website.

I purchased my first bid pack and was promised 10 wins out of that money. Got the 10 wins. That much is true. That’s about as far as it went. Won 10 items but received only one.

They kept telling me they were having problems with their suppliers. Asked for a refund Yes 6. I paid for bids, won some items put some items in their store some sold some didn’t. I purchased items from store did not receive unable to contact company on hold average time 2 hours plus. That crusty ass, sneaky ass, scammin’ ass bee should be locked up in a mental asylum for the rest of his life.

Yes I won several items, one being an Xbox! I received the smaller cheap items, butvmy big items never arrived was told it was a vendor issue but assured I would get. They had no problem taking my money, but the items never arrived!! Yes 7. This site is a total scam. You waste your money «bidding» but you never win unless you sit there for hours trying to sneak in.

I bought a barbecue 8 months and never received it. They kept saying they had vendor problems and it would shipped but it never. Now noone is answering the ohone or email and I can’t get my money back or the barbecue. Any have any suggestions?

Beezid a scam and a fraud. Yes 8. Receiving email blasts is also a great benefit. When I am on the road, the information happy i doing work this site The quality of the product is the best.

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Yes, you can lose money on Beezid. They are a new type of competitive game called penny auctions. Beezid is a penny auction siteand penny bidding sites like beezid make their money by selling bid-packs, NOT on the ending auction price.

Beezid a Scam? Can you LOSE Money on Beezid?

If you go to the home page of Beezid. On first glance it looks like doo is a scam. It looks like Beezid is not sotes, however Beezid has a strong reputation in the industry as a leading trustworthy, fair and legit penny auction site. If you do not understand how penny auction sites like beezid work then read this guide on how penny auctions work kike why some people feel scammed when they really did not understand what they were getting into before signing up and bidding. We feel that beezid is a legit penny auction and not a scam penny auction. Miney promotion runs between 5 and 8 in the morning, from Mondays to Fridays. The site also has a bonus that encourages users to invite friends to join the site. The reward for this is a set of free bids. Some of the live auction products at the site are video games, television setsMP3 makw audio systems. In addition to this, the site also has computers, electronic items, cameras, camcorders and movies. The site also offers items in how do sites like beezid make money lifestyle, fashion, children, home and garden categories. Here, you may also come across a selection of gadgets, cars and car accessories. Most of the items at Beezid.