You buy the one penny bids in allotments , not sure how much the min allotment is from these guys but some people get caught up in the auctions and end up paying more then the retail price.Places like quibids etc. So basically you might have hundreds of people biding on the same item and the auction site ends up making like $500 or more on a $40 item and yes maybe someone might get it for $5 if they happen to get in near the end of the action but all the other biders lose , sort of like a pyramid scheme sort of I guess , check out Youtube for vids from some of the people that use these sites.
This is unrelated but ebay scamer gets owned by Judge Judy...wow..she sold "pictures" of phones for $400..ummm ok
They did say that if you used up say $30 of your penny allotment on a $40 item and didn't win then you could use 80% of what you spent and pay the extra $24 to buy the item(coin)(bullion)etc. But the "retail" price is going to be higher then if you bought it from a bullion dealer,most likely anyway. So they make a good profit no mater what happens I guess.
" and even when outbid, you can still use 80% of your bids towards the retail price" So if you got caught up in the auction and spent $60 and didn't win , then you could use $48 towards the purchase price so you could buy the $40 coin outright it appears...good deal lol, spend $60 for a $40 coin.
Hmmmm maybe I should start up one of those auction sites, looks like a good way to make alot of money...
The launch of Bullionbay.com is on August 26th, 2013. There are easy auctions where you can get it at pretty much 2 cents, and there are cases where you will spend way too much bids and price on. It mostly depends on who you are auctioning with rather the item in most cases.
I have put sometime playing and collecting data from Bullionbay.com since Sep. 9 2013.If you guys are interested to know how to win as many auctions as possible and how to avoid spending too much money/bids. Give me a reply on this website or email me on *** Email Removed by Staff ***
Publicly available script that anyone with half a brain and some extra cash can have up and running in an hour.
Trust me, ebay legal already has it on the radar and the second they become remotely successful ebay will take the domain away from them. Ask Bob Martino what happened to CoinBay.
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Posted 05/04/2013 10:13 am
