Saturday, August 7, 2010, you're my hero!

Holy crap! The people running this auction site must be making a fortune! is an auction site where you pay to bid. Each bid costs $0.60 and raises the bid price on the item by 1 penny. Items start at 1 penny. I'm watching the bids on a $1600 laptop climb from $50 up to $73 and beyond. A $1600 laptop for only $73? What a bargain, right? Yup, if everyone else would stop bidding and let you win. Hint: They won't.

It says right here that this item "recently sold for $422.59." Someone saved $1200! Good for them! In the process, raked in $25,355.40 (42,259 * $0.60) in fees on the sale of a single $1,600 laptop! HOLY CRAP!

Capitalism rules! I need to launch one of these sites and only charge $0.50 per bid!

Update: This ad says "Honda Civic Sold for $2,642!" There's another $158,520 in bidding fees for Also, for the company spin: Does QuiBids make excessive profit on their auctions? (Of course not! We have to pay rent and stuff! -grin-)

No comments: