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Pretty intense, but if you read how it works, each bid you place costs you 75 cents and you can only bid in increments of 15 cents. That could get relatively expensive seeing that if a bid is placed in the last 20 seconds, the auction extends another 20 seconds. In all reality, it may be a lot harder to find really good deals, especially on high demand and high dollar items.
 
Each bid you place costs you $0.75. Regardless whether you win or not and if you bid 10 times and still don't win you pay $7.50. No thanks, I'll stick with Sam's Club Auction
 
I dont know what to think I just was watching tvs get bid on over and over before the end (dont think its ended yet, and was in the last 20 seconds 5minutes ago when I started watching) But i did see someone won a samsung 37inch 1080p tv for 37bucks no clue how much he spent to bid but thats a hellofa deal.
 
It appears that the seller is the owners of the site. For that TV mentioned abover, there were 246 bids (37/.15) times .75 per bid, so they made 185 off of bids alone, plus the actual winning bid.
 
Just speculating, but they're probably working out of a garage and don't have any actual stock; they just order it once they've sold something (after a number of bids have been taken), lol.
 
flounderhead59 said:
Alos noticed some things selling for like $22.00 in a PENNY auction. How many bids at $.75 a piece does it take to hit $22.00?
Well it would be 2200 bids if they started it at a penny or 2185 if they started it at 15 cents like the rest, so on 22 dollars it would be $1638.75 to $1650 for that auction. Really a pretty ingenious system to make money. The thing that really makes them money is the fact that there is no way to snipe an auction like eBay, which is what I'm skilled at, since every bid in the last 20 seconds extends the auction.
 
You aren't the Bastage that sniped me out of the ice fishing auger blades are you? :twisted: I was at work watching the item and had to go take readings. Less than 2 minutes remained so I felt confident it was mine (for 1/3 retail BTW) so I started my readings. Got back to the computer 3 minutes after the bidding had ended and found out I lost :twisted: :twisted: :twisted:
 
I don't ice fish my friend. So you get off easy on that stuff. My dad always enlists my services when he see's something he wants. I don't do much on ebay anymore, but I am always looking, so watch out :twisted:
 
Heck, you're close enough I could "enlist" you to snipe for me. :D . That was only the second thing I was going to buy from Ebay too. The first was one of those buy now things w/o bidding involved.
 

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