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KJT

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No it's not bs. I actually work with them professionally. There's plenty of information on their website to explain how it works, but rest assured, they are a real company, who hold real auctions for real products. And they have a real finance department which pays my bill


The owners advice was to start bidding on smaller items like the gift cards, etc. to get a better feel how the site works, then set your sights on the large ticket items.
 

Dinhilion

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Originally Posted by ALFAMALE
So is this bs or what..?
They are a great way to toss some money down the drain. They'd have auctions and products, but they resist oversight and seem sketchy. I read agood article on them a little bit ago. You have bid fees on top of each bid that push up your true cost.
 

GSquared

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As a consumer, it's luck though you can get an incredible price. As a business, there model is brilliant and they are making a small fortune.
 

onix

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Originally Posted by ALFAMALE
So is this bs or what..?

I actually was in a group that did extensive research on the practice of the company, and the mechanisms they used. The bottom line is that, your gains from using the website is more or less like playing lotteries: constantly lose little, but can win quite substantial once in a while, in expectation though, most people are worse off.
 

Dinhilion

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Originally Posted by onix
I actually was in a group that did extensive research on the practice of the company, and the mechanisms they used. The bottom line is that, your gains from using the website is more or less like playing lotteries: constantly lose little, but can win quite substantial once in a while, in expectation though, most people are worse off.

Did you guys get attention from a major news site? Because that is what the article i read basically said.
 

onix

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Originally Posted by GSquared
As a consumer, it's luck though you can get an incredible price. As a business, there model is brilliant and they are making a small fortune.

Their fortune is actually huge comparing to selling products in the conventional way, it increases exponentially as the number of bidders increase.
 

onix

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Originally Posted by Dinhilion
Did you guys get attention from a major news site? Because that is what the article i read basically said.

Uhm, maybe, I don't know. It's a white paper research, and the result was an intellectual property (belongs to those who hired us). So I am not sure how it was used.
 

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