BeezidReviews 432

I won't bother explaining their business model, as plenty of folks have already done a good job. For myself, I am not angry that they make a profit... a healthy profit. I have no problem with others making money. It drives a healthy economy to have as many people as possible turning a profit. However, I do believe there is a better way to create more "winners" and a few less losers. Being very methodical and efficient, I thought I would tackle finding a way to "win" at this. I made the investment, and gave it a couple of weeks of study, analysis, etc. I even "won" a small item for the kitchen for my wife. We received it and she likes it. HOWEVER, I would not recommend this as a site you can actually end up a "winner" on. I've invested more in time and money than what I won for a cheap price, and even still have a couple hundred bids left to use on the site. Here is what I did, and still cannot find a way to really make it work:

I read up on how supposed experts on these kinds of auctions actually win. I then watched a lot of auctions, at different times of the day and different days. I then went through closed auction on items I was interested, particularly bid packages... after all, those are what will get you a large account and will drive the cost of your bids down if you win them cheap enough. I also tracked gift cards, and a couple other items. I built a spreadsheet and entered aaaaalllll the data about every closed auction on each item, for about 2-3 weeks. This was a LOT of data to record! I then looked for trends... all kinds of trends, and used a variety of methods within excel to readily identify those trends or "rules" I applied. Then I watched a little more. THEN I bid. It was, at the least, a part time or more job to do this. End result? I still got hosed. A few times the software or something appeared to malfunction, to which I immediately wrote customer service with SPECIFIC examples and every detail of the auction. I was awarded free bids on a few occassions. Kudos there. However, whether it be Murphy/s law, whatever... somehow, even when I "guessed what would happen" correctly, it still didn't pan out for me. There are simply far too many variables, outside your control or even ability to track and predict, to make this something you can go about with any real degree of calculated risk. It is a roulette wheel and the odds are always in favor of the house. Granted, a very high % of the winners, according to my data, paid a small amount for the item they won (including bid cost), but since you cannot track users, who knows how much they lost on other auctions. My opinion, VERY few "hit it big" and probably none with any consistency.

They just changed the format. Items went off every 15 - 30 minutes, now it is 1 hour and sometimes 2 hours in between items, they then put up "bids" for auction, this cost them nothing. I had fun with it in the beginning, but now have closed my account because they changed the format AFTER I purchased bids and did not warn anyone. I will NEVER tell anyone about it again. They are making tons of money and they just got greedier. After people join and do not win, there will be no more players.

DO NOT FALL FOR THIS SCAM!
THEY ARE GREEDEY.
THERE ARE BETTER THINGS TO DO WITH YOUR MONEY!

All these people reviewed this site and one person actually likes it. That was probably the one person out of all of us that actually got something without spending a bunch of money. I will admit I blew $70 at this site and got nothing. I hope this site goes out of business soon so consumers like us are no longer duped out of our money. The only problem is the site owner will be rich by that time. BOTTOM LINE IS; THE SITE SUCKS DO NOT GO THERE>>>PLEASE IF YOU LIKE YOUR MONEY DO NOT GO THERE! Thanks.

Warning to all who want to try Beezid.com... DO NOT... IT IS THE BIGGEST RIP-OFF WEBSITE I have ever experienced. It will take your money and you will have nothing to show for it. If you like putting your money directly into a garbage can, go ahead and go to Beedzid and I guarantee you, that's what you will feel you have done! We have got to stop this website from ripping-off people! Please join me in letting the public know that they will be ripped-off and let the people know who can do something about this kind of sight that steals people hard earned money. Beezid does not care about you; it is a money making scam!

After seeing the advertisement on TV, I went to the web site to see what it was all about. After watching the introductory video I decided to continue with the sign-up procedure and see if I could bid myself into a fantastic deal.
As I was signing up to register for the site I became more and more apprehensive about completing it until I learned more of just how it worked. I Google the site and selected Site Jabber. I am so happy I did. First of all I want to thank all of you who took the time to submit reviews to enlighten those of us who are about to be sucked into this site. Some of the reviewers say this is not a scam but entertainment. Well it might be entertainment to some but it is still a scam in my opinion. It is a means to separate people from their money and give little if anything in return except maybe the "entertainment" value. Beezid may not be illegal but maybe it should be or at least they should be required to plaster a large warning flag on their site telling all that Beezid is strictly for entertainment and great deals are few and far between.

I watched a set of cuttlery knifes marked retail at 149.99 being bid on by the same customer at the end of every 20 second time out. Found that several diffrent bidders hit on the same bid just to test it. Why would the same bidder bid against there self? Only reason I can think of is that the sight has programed automatic bid to ripp off people! SURE WISH I WOLD HAVE CAME UP WITH THIS SCAM (millions of dollors in minutes, get busted, do federal jail for about 5 years, get out and have 10's of millions to kick back on) WOW! My sight will be bizridofyourmoney.com

It is not an auction but a gamble. When you buy bid points and then try to bid on something, every time you click you bid a penny right? Wrong! Your betting a penny.
Real auctions are if you lose the auction you lost nothing. Here when you lose, you lose everything you bid with.The more you bid the more you lose. It's like a slot machine throwing money in hoping to wind the jackpot. After buying $27 worth of bids I can't believe I clicked enough times to lose that much in pennies. Since I couldn't win because every time someone bids the countdown starts over again, I used up my bid points so I don't know if you actually win anything.

It is great... for the owners. It is a rip-off for the users. Allow me to explain: You purchase bid "tokens" that enable you to place bids on items.: Each bid raises the cost of the item by a penny. You may indeed be able to purchase an item for pennies on the dollar... IF your timing is right and all other bidders have exhausted their bid tokens or given up. How does this website make money selling items for pennies on the dollar? Simple... you don't purchase the tokens for $. 01 each... they cost a lot more than that, even if you purchase in bulk. So if they get, say, 1,000 bids ($10.00) on an item that has an; MSRP (Manufacturer's Suggested Retail Price) of $100 and that 1,000th bid wins the item, then it looks like a great deal for the winner, Hey! A $100 item for $10.00! But understand that this means there were at leat 1,000 tokens purchased by consumers for the "priviledge" of bidding on this item. At the current MINIMUM price of $. 60 per bid token (if bought in bulk, at the time of this review) that means that the website owners made a nice, tidy profit. 1,000 bids x $. 60 per bid token = $600.00. Yes, SIX HUNDRED DOLLARS minimum for an item with an MSRP of $100.00... which they probably were able to purchase in bulk for $50.00. Since the bidder has to pay the bid price for the item, let's do the math: Cost = $50 plus the fractional cost of doing business (payroll, bandwidth, servers, etc.). For the sake of argument, let's say their fractional cost is $1 per auction, though it is probably far less. So their cost is $51. The item sold for $10.00 so they will get direct payment from the buyer, thus the item then cost them $41.00 (the buyer pays shipping). The profit? Well, they sold a MINIMUM of $600 in tokens, so... $600.00 - $41.00 means they made a profit of $559.00. Not too bad for a few minutes of work. So the owners of the website are the winners. Does that make everyone else a loser? Well, only one person won the item, and maybe they only spent one token ($. 60) to win it. But that means that in our example that 999 tokens were spent NOT getting anything. You only come out ahead if the total amount of tokens you purchase is less than you would have spent on the item in a store. You decide.

When I seen the ad on television I thought this was a cool idea. I even spent $$$ trying to win items. My only luck at winning an item was during the "cherry auction."

In my opinion, I would not waste any money on this auction. I visited this website on a daily basis hoping to find the right time to place a bid. They say timing is everything and I have yet to find it. Also, I do not like the fact that you don't know when the auction will close. Several times I have sat in front of the screen watching it say "going" only to be several more minutes before it is actually done. Other times, I have sat there and it says "going" and it closes before I can even get a bid in.

I would definitely stay away from this website. I am a person looking out for the best deals like the rest of them but unless you have plenty of time and money on your hands, I am not sure you will find it on this website.

I really feel Beezid is a very bad business model. You buy bids, (. 70-1.00 each) spend them at a furious pace as many others do, in hopes of being the last one to bid. Each bid, adds another 20-30 bid allowances. The increase is. 01 at a time, giving the appearance that you are buying the item real cheap.

We've all accepted that business needs its profits. But check this out:

A 900.00 laptop was bid up to 55.00. OK so at. 70 a bid, increasing the total up. 01, that makes for a minimum of 5500 bids... at. 70 a bid we are talking a Beezid take of $3850. 00! Thats right, By the way... this item was still in play, it was at 55.00 at 8pm on Sunday.

Bad bad bad business model... excellent for gambling addicts.

It will take some time for people to see this, but it cost me 27.00 to learn this.

I was curious about Beezid.com and spent most of the day attempting to understand what, at first, seemed to be an interesting possibility of bidding on useful electronics and gift cards for a very reasonable amount.

I even admitt to purchasing 50 bid points for $40 to see if, I too, could be a lucky one, to bid on something I might want. One auction that appeared to have only 15 seconds left on it would be hit by another bidder and watched as these 20 second auction went on for hours. Soon my bid points twindled to 18 and I knew that I had been had.

I watched one auction end for an internal auction of 200 Beezid auction points retailing for $120. This poor bidder b******* kept bidding, then he/she would get slammed at the last second and then he/she would bid again. This kept on and on. The same 20 second auction must have gone on for, at least, an hour. Finally the end came and b******* won what he/she had been wildly bidding on.

I then checked how much this all cost b******* in bid points and it was 248 at a total cost of $173.60. Remind you he/she was bidding on the bargain of 200 bid points for $120. The bottom line was the bidder lost Big Time.

Yes, he/she should have been more aware of the fact that every time you hit the bid button it cost you a point. There were repeat bidders, bidding against this bidder and yes, there was a point where I begain to think this might be an internal scam, because those other bidders were spending way to many points for what the bid was worth. I just began to do the math and something was very wrong.

I warn all of you that might be intersted in Beezid.com to just sit and watch the bid names when the bids get hor and heavy for an important item, you will see the scam unfold before oyur eyes. I should have taken my own advice, but foolishly bought my 50 bid point for $40 without throughly spending more time doing my homework. Please don't make the same mistake as I. Beezid is a SCAM. But, I must say, they are clever, no doubt, distant relatives of Scary Madoff.

Signed up, and simply gave beezid $67 of my money for absolutely nothing in return. It's gambling, plain and simple. I hated it and have already went back to ebay where if I get outbid it doesn't cost me a thing, and if I win I will receive my item within a reasonable amount of time. Unless you have so much money that you are able to just throw it away, then I would absolutely NOT recommend this site! Did I mention that I HATED it? =)

My girlfriend got me into the beezid game. She taught me some bidding strategies and I am happy to say that we have won so many cool items such as TVs, HD monitors, giftcards, tool sets. They sell everything you could ever want and its totally possible to win these items you just have to be smart about your bidding technique. Don't bid too early or too late its all about timing and strategy. I am not sure what other people think but I know its not a scam. We receive our winnings in timely manner and any contact I have had with beezid has been a pleasant experience. Not to mention they have prize giveaways and little things you can do to receive free bids! If you think about it every business wants to make a profit if you use good bidding techniques you can get what you want!

We love beezid!

BlackNIrish

I have read several reviews of my own and visited the website myself. By the looks of it, this website is a scam. They call themselves a penny auction because every time you bid, the price goes up one penny. They advertise this feature a lot and tell you that you can get certain products for up to 99% off. But at what price? I visited the website and in order to bid, you have to buy bids which cost a dollar! So if Beezid puts a PS3 up for sale for $399 and after all the bidding is done, it sells for $30.00. Seems like a great deal but Beezid actually got nearly $3,000 out of the deal. (every bid gives them a dollar) So it seems like you are the one with the deal but really you aren't. One very unsatisfied customer said that they never even received the product that they won fair and square. You see the auction is run on a countdown timer and every time you bid, the timer goes up a certain number of seconds (a few seconds for the small items and up to 90 seconds for the larger items). So if the timer ever does reach 0 seconds, then the last person to bid wins. The unhappy customer said that they were up all night and the timer finally ran out and said that they were the winner, however, the timer then reset and others began to bid again! This leads me to believe that the users there may very well be computers programmed to win and steal your money as long as they can. This site sucks your money for "great deals" and gives nothing in return.