deeprecon1
Enthusiast
offline
Registered: May 2003
Local time: 08:28 AM
Location: usa
Posts: 88
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I ran across this awesome deal at price right when looking for auctions on plasma TV and comp stuff.
If you like gambling this online auction house is for you. The short of it is there must be a minimum amount of bidders...
every time you place a bid it costs you $20. dollars. The item will never be sold for more than %20 of it's retail price! Thats the bait....
the example I will use is a actual listing from priceright. This is high bid winner auction you have to win by placing the most odd bid from all the other bidders to win. ????? that's gambling!
Item lists @ 66.95 for the price right max you pay if you win. Ok ..so just bid 66.95 and its yours right ? NO if everyone bids 66.95
and only one person bids 65.93 that person wins ...... GAMBLING on being odd from everyone else. check out the pic for a example I am using next.
1. must be at least 69 bids @ $20 a bid = $1380
2. The item retails for $699. THEY DONT PAY RETAIL ! ...moving on
3. $699-$66.95 = $632.05 this equals there %80 savings
4. $1380-$632.05 = $747.95 - retail cost of $699 = $48.95 profit.... If price right pays retail for this item THEY DON'T
Moral of this story if you like to gamble play lotto .... just think for every bid you make you owe them $20 dollars win or loose.
They will not go forward with the auction until they reach a minimum number of bidders ... so the profit margin grows with every bid from a user.
Nice scam <REMOVED -- Foul Language>
Last edited by Heavens11 on 09-11-2004 at 08:49 PM |
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08-07-2003 06:53 PM
