Mad bid?

There's a Ford Focus on there now at £355.96. If everyone's bid is £1.50 the site has already taken 35596 bids on it, which equals £53,394. It's a winner everytime for the site and somebody gets a bargain. If that car sells for a grand, the site will have made over £100,000 from it.

It's genius

Originally Posted by suzsv650

looks much more promising, a lot less bids so more chance of winning on that one..

...and another sucker is born....;o)

Originally Posted by Kinvig

...and another sucker is born....;o)

lol id never ever bid on any of them, just stating the obvious, who ever invented it is a loaded genius!

Originally Posted by Kinvig

...and another sucker is born....;o)

We're the suckers for not thinking of it - how can you not think this is a good idea?

Originally Posted by carty

We're the suckers for not thinking of it - how can you not think this is a good idea?

It's kinda immoral isn't it? Preying on their greed....

I know the people bidding have to got to be stupid or ignorant of what the chance of winning are compared to the outlay - but part of me thinks that activiities like this should be banned.

...of course by my rationale we would also have to ban smoking - Yay! and the national lottery - not so yey!

+1 soulkiss

Its sooo brilliant its un-fair.
Someone sat down and either suddenly had a way of making a sickening amount of cash. Or they thought long and hard about it. Either way its absolutly brilliant in essance everyone wins!

Everyone has an equal chance to win the item at what ever the price shown plus how ever many bids that person has already spent. ie if the auction was for £10 and you more than 3 times at £1.50 a bid, you'd only make money if the winning price was less than £5.50. Increase the scale of the factors I've just used and you go some way to understanding how brilliantly brilliant the idea for this website is.

Immoral schmoral, whoever owns that site is gonna have all the money they could ever need in a relatively short amount of time!

[SoulKiss]

Originally Posted by Kinvig

It's kinda immoral isn't it? Preying on their greed....

I know the people bidding have to got to be stupid or ignorant of what the chance of winning are compared to the outlay - but part of me thinks that activiities like this should be banned.

...of course by my rationale we would also have to ban smoking - Yay! and the national lottery - not so yey!

Nope, not at all.

I have no problem with this site - I have a couple of things I would do differently that would make it fit MY workd view a bit better at the cost of some profit from the site, but I have TRIED really hard to see where they are doing something that is wrong ands have thus far failed.

Yes, its idiots that use SMS Bids @ £1.50 each, yes anyone not studying the auctions for a couple of weeks before getting involved (ie whats the price a PS3 usually goes for on this site and not bidding until it reaches there).

There are some nice psycological tricks being played but nothing that is misleading or false.

I think one of the most brilliant things is it requires zero stock- you can literally do this from your bedroom and send your partner / gopher / trained chimp out to buy the item and post it when the auction ends.

[the_lone_wolf]

Originally Posted by leedsmatt7

...its absolutly brilliant in essance everyone wins!

Except the other 399 bidders who lose their £1.50...