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Zippity
31-12-2009, 02:24 PM
Anyone used it?

Any experiences to share?

http://www.bidfun.co.nz/

robbyp
31-12-2009, 02:30 PM
The commerce commission are investigating these penny auction websites.

http://www.stuff.co.nz/technology/digital-living/3155597/Penny-auctions-trouble-watchdogs

Personally I believe it is gambling, and for every winner, there are loads of losers.

That particular website isn't even a NZ company.

Greg
31-12-2009, 05:37 PM
I'm curious - who actually supplies the items to the successful bidder?

robbyp
31-12-2009, 10:57 PM
I'm curious - who actually supplies the items to the successful bidder?

I assume it is the people who run the website. It should also be noted that on other websites, people may be bidding against people in many different countries, as multiple websites may be running the identical auction on their website. Great idea to make money, but the ComCom are looking into it.

Agent_24
01-01-2010, 05:23 PM
Looks a bit of a ripoff to me.

Their FAQ say you must purchase credits and then use those to bid with. What happens if you lose the auction? I expect you lose your credits as well and have to buy some more.

kenj
01-01-2010, 05:44 PM
Their FAQ say you must purchase credits and then use those to bid with. What happens if you lose the auction? I expect you lose your credits as well and have to buy some more.

Oh yes, I am told by brother in law who says, they or similar, are operating in Canada. Apparently that is the way it works.

Ken :2cents:

Zippity
01-01-2010, 06:23 PM
It is fun watching the idiots bidding.

Yesterday/early this morning, a Sony PlayStation PS3 sold for $244.06 netting the site owners a cool $7,000.00.

A similar item currently under auction has pulled in at least $2,100.00 so far :(

Such a rip-off.