What’s a dime auction? Well, which means that you could bid on items by 1 cent increments which will be obviously within anyone’s budget. No wonder that Quibids, Beezid, and the likes, have gathered record levels of customers in a brief timeframe. The primary reason because of this uprising might be that if you win with your penny bid, you find yourself saving about 90% on new retail items such as Apple iPads for $20 (retail is $500 and up), Samsung LED 55″ flatscreen 3D TVs for $60 (retail is $2,000), etc…
Although it seems too good to be true, it’s very real. The bidding sites actually make much more money than what they spend on the newest items. The reason being customers have to get the proper to bid, on Quibids, a package of 100 bids is worth $60, that’s 60 cents per bid. If you placed one bid and won the iPad at $20, you will actually spend $20.60 on the item.
No big deal right? Let’s crunch the numbers. First, let’s remember that unlike eBay, these sites do not have a definite end time on auctions, everytime a product is bid on, time is put into the clock. The auction ends when nobody posted a bid for say, 10 seconds. That basically implies that everybody has the same odds to win the item. On that note, let’s take the exemplory instance of the iPad that went for $20. Starting the auction at $0, it took an overall total of 2,000 1 cent bids to have there. If you bid once, the probability to win this auction is basically 1 in 2,000. Needless to say, แทงหวยออนไลน์888 you can boost your odds by bidding repeatedly, 100 bids gets one to 1 chance out of 20 however you will then have spent $60 + $20 with a 5% chance to have the item. Meanwhile, the internet site will receive 2,000 times 60 cents for that no matter what, that’s $1,200! Since that costs them only $500 and the auction winner will still have to invest the ultimate $20 bid onto it, the internet site is likely to make a staggering 144% profit! This really is true on every item, each and every day, with the minimal infrastructure that posseses an online business.
It is really a mystery why such methods are legal because if you sum it up, all they are, are online lotteries. Bids are bets and your odds rely on the amount of money you spend. It is important for the “customers” to understand that the dollar value of a product that’s bet on does not represent anything, it’s just a trick to attract more people and lead them to genuinely believe that they will receive a good deal. The truth is, you can overlook the status of the “auction” and just think of it as a lottery for which each ticket is worth 60 cents. At the end of your day, you can either get lucky, leave, or get caught in the loop and keep playing the odds. Like at casinos, you will likely then end up losing far more than what you are winning. My advice: check it out a couple of times, then head to your retail store and pay face value…