Bidding websites

Soldato
Joined
15 Jul 2010
Posts
3,526
Are these 1p bid websites scams or how do they work?

It sounds too good to be true that you can buy something at half the price, does anyone actually win? :D
 
you pay for every bid you place, there is no fixed bidding time. Normally an hour or so from the last bid and that's the end. So if people keep bidding it doesn't end and you pay £x amount for every bid you make. So they get way more than teh item is worth. if you win you might get a good deal for a one of attempt. If you use it lots, your almost bound to lose money.
 
I view it as a bet. You buy a bid and by placing that bid your betting that no one will place a bid after you.
 
But, how do you know when the auction ends?

Every time a new bid is placed, more time is added to the countdown.

I watched a few auctions online, as soon as the countdown gets to 1 second, lots of people bid to try and win the item at the low price. The bids add more time on, everyone waits until it gets back to 1 second, then they bid, which adds more time...etc...over and over.
 
It's just a gambling site - I can't believe they get so popular - just proves how many morons there are out there... :(
 
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