Beezid Scam – Penny Auctions
Beezid Scam – Penny Auctions
Beezid is a penny auction website where you can buy some really neat, expensive stuff for prices that are considered pocket change. The whole concept of the penny auction is that each time you bid, you only increase the price by one penny, so on one hand the product doesn’t go out of your price range fast, but on the other hand bidders tend to stick around. So how can any legitimate business afford to sell you merchandise worth around 2000 dollars for a ridiculous price like 60 dollars? The answer is quite simple: a cleaver business model! Bidders are charged for bidding, so each time you bid, you actually need to pay a bidding price. The products all start at $0 and for each one dollar raised people need to bid 100 times in total. Multiply that times 60 and you’ll get 6000 bids, so no matter how low they charge for a single bid, in the end the item is well paid for. Bids are bought in packages, and you can even bid on bidding packages in order to get them cheaper. All and all it’s very fun, to watch, fun to participate and if you’re lucky enough, you might get something you really like for a shockingly low price.
Beezid Scam – Penny Auctions
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