After seeing all the ads for Beezid (www.beezid.com), I decided to see what it was about. Like any good consumer, I did a search on the internet first and found all sorts of information saying it is a scam, and the same amount of information defending it as legitimate. No doubt, a search on the subject is how you found this article. So, I decided to try it out and see for myself.
Beezid is not like eBay, so if you go into it thinking like that, you will be disappointed and probably a little angry. No, it is a much different creature.
First of all, you have to purchase bids. Depending on the bid pack you buy, the bids are less than $1. That does not guarantee you anything except a bid. So, they make money from you just by you purchasing the right to bid for an item.
Items typically start at $0.00 and increase by a penny or so each bid. The good thing is that someone is going to get a great deal. The bad thing and the sad truth is, it’s probably not going to be you. You can try timing it, but you can spend all day watching one item, only to run out of bids before you win.
At eBay, when the auction is over, the high bidder wins. With Beezid, when the timer is expiring and someone bids, the timer starts over, usually at 20 seconds, so an auction can drag on as long as someone is bidding on it.
If you do win, remember that your total cost is not just the bid. If you won a $1000 Macbook for $250, but you spent $500 in bids, then your actual cost is $750 + shipping. Not a bad deal, but you can see it’s not quite as great as if you didn’t have to pay to bid.
Beezid has been compared to gambling. I can see the similarity. You are paying to play a game with the hopes of winning the prize at a certain price. It’s not much different than playing a slot machine in hopes of winning a prize.
I wouldn’t exactly call Beezid a scam. They tell you you need to purchase bid packs, tell you how much the bid packs cost, and tell you how it works. I don’t think I would call it completely legitimate, either, as it appears they found a loophole in the laws against internet gambling. They are not losing any money on this business model, that’s for sure.
As for me, I’ll stick to eBay and leave Beezid alone.
Some other auction-related sites you may be interested in:
Other reviews:
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[...] as I said in my previous article, Beezid – scam or legitimate, I think I will stick to eBay where I don’t have to pay to [...]
Beezid IS a scam. I remember seeing a site like it a couple months ago and examined it. Yes, IF you win a bid, you MAY pay less for that particular product. However, if you LOOSE the bid, you loose all the money and have nothing to show for it. It took me about 5 minutes to figure it out (I didn’t buy any bids – I’m not a moron). Hopefully the FTC will close down these sites.
I have won at Beezid before, but you are right – the price to bid is high – and if you don’t win you loose money. However, I found another site that has a lower cost of bids, as well as if you sign up now you’ll get double the bids. Its worth a look at http://www.myezbids.com
Thanks!
[...] The most frequent question you will find when searching around Google for information on Beezid is a pretty obvious and valid question: “Is Beezid a Scam?” (see here, here and here) [...]
What they dont tell you is they have 100′s of bots bidding on things to increase the bids. It’s a total scam!
Not only are you bidding against other people but every time someone is outbid the timer adds 10 or 20 seconds to the auction. Any auction with an item of actual value has a Beezid auto bidding bot so the site can make sure the bids keeps going as long as they need them to..total scam stick to real auction site like eBay.
I’ve heard that people have acually reveived the items they won, so it is legitimate. The thing is, as you said, your paying money for bids in HOPES of getting a grwat deal. Yes- you can get good deals on here. Likelyness of getting the good deal- very small. I also have a theory that they have employees who bid on the expensive items, so the company can win them back, and post them again to get more money off the bids. Heres my take on it, if you buy the bids and start bidding, don’t get your hopes up, and don’t get sucked into buying more bids!
I am concerned that I just saw an ad for this “non gambling”, pay to bid, “non scam” “auction site” with a coupon from DISHTV…? Is DISH Network simply supporting this “non creepy” enterprise, or are they a part owner of the fleecing of Americans…?
I found a auction website which is better like that all thing is brand new and the price is unbelievable for more visit it the http://www.cooolbid.com !
[...] I took a look at Beezid because I wanted to find out if it was a scam, or a legitimate product (article here). Here I go again. I was perusing the interwebs and came across Satellite Direct. As I read [...]
[...] I took a look at Beezid because I wanted to find out if it was a scam, or a legitimate product (article here). Here I go again. I was perusing the interwebs and came across Satellite Direct. As I read [...]