Review Is it a Scam

I would like to say first and foremost that i am not a fan of penny auction websites I think they are time consuming and in a way i feel its unfair to the consumer, that being said I have to be honest and say seems to be a better option compared to allot of the other penny auction websites i see online. By that i mean there are many penny auction websites that want your credit card upfront and will charge your credit card immediately upon sign up.

In the case of (when i signed up anyway) you had to check your email before you could even start playing for the record the time i am writing this is November 20 2010 so depending on when you are reading this things may have or may not have changed. If you are going to purchase a bid pack my personal advice is to pay using paypal. You can even use paypal and use your credit card to pay. The reason i say this is because Paypal protects the consumer. If you have an issue where you want to dispute charges and you use paypal they can help and also your credit card company can help you get your money back.

Why I don’t like Penny Auction Websites

I personally feel like if i am in a legit auction I shouldn’t have to pay for the desired item unless i win it. If i go to eBay and i am in a bid war and I lose why should i help the winner pay for his or her item? that doesn’t make sense to me. To me that seems borderline gambling. There’s nothing wrong with gambling but I just don’t see the point in this instance if understand what i mean. There are people that are currently making a living at penny auction websites and then there are those people who join for a chance to get things for a fraction of the price.

Keyword being chance, the bigger a penny auction website gets the harder it is for members to win and the better things get for the penny auction website. To me business is all about things being equally fair for both the company and for the consumer in my opinion in the instance of a penny auction websites the house( seems to have a distinct advantage over the consumer. The consumer buys a bid pack or credits under the terms it says ” Unexpired bids, from a Bid Pack or otherwise are not refundable” which means once you give beezid your money for credits your money is gone whether you win or lose.

Final Thoughts on

That being said if you are going to be strategic my best advice is if you are going to use make sure you commit yourself to one item, if you are going to participate in a bid war its best to go all the way on one particular item don’t bid once on product A and then also bid on Product B at the same time. I recommend committing to one auction at a time yes there is risk involved but i always found going all the way whether winning or losing always beats out going halfa** on everything, plus it also feels better even if you lose because you know you tried your best.

Again I don’t recommend penny auctions but i understand some of you will try it anyway so i wrote this post to at least hopefully educate you about penny auctions in general. The one thing i guarantee most of you realize is that penny auctions are risky and time consuming.

Please leave your comments about below by leaving comments you are actually help other people in their decision process.