Instructables

BEEZID.COM...scam, or genius

Well, It's both. This is a new website that works like ebay, but all of the items are BRAND NEW and cost only pennies on the dollar. How the **** could this possibly work? Well the guy who made this website is probablly already a rich genius. Cars sold for a few hundred dollars, tv's for only $100, and brand new ipods for merely $50. Here's how it works. Items start at a penny and every bid brings it up another penny, but everybody that bids PAYS a dollar for their bid. so do the math. A car is sold for $500, which means 50,000 bids...so the guy gets $50,500 for a $20,000 car, but the winner only pays $500. This website is engenius for the creator, but be careful. You could be spending hundreds of dollars and never win anything...so keep in mind...all of the money has to come from somewhere. And in this case its coming from all the people who bid and lost the auction.

lemonie4 years ago
Same old, same old. No Genius here, just another person / company fleecing suckers.

L
Electroinnovation (author)  lemonie4 years ago
Thats my point. He managed to create another one of these scams and now im sure he is getting close to being a millionare.
Well he at least made a lot of money from it...enough to make a commercial.
Doctor What4 years ago
 Like swoopo?
Swoopo, if Barnumwere alive, even he would blanch at their methods
 There's a sucker born every minute.

(I'm a sucker for gimmicks myself, hence this {heheheh})
Electroinnovation (author)  Doctor What4 years ago
Yes but beezid is much more popular and therefore they charge $.25  more for each bid and they have the bids go up by a penny each time instead of a nickel. Therefore beezid makes a lot more money (for the employees anyway) and it is more of a scam.
Unfortunately I believe this one is a scam.
http://www.mywot.com/en/scorecard/beezid.com
Look at the user comments near the bottom of the page.
Electroinnovation (author)  Overtheriver4 years ago
Yes this is a scam, but it can also be beneficial. Many people spend hundreds of dollars more than what the item is worth on bidding and may never even win it. If, however, someone comes up with a system, it can be beaten. Some people will be able to make a living off this website while others are scammed out of their money. It's all a matter of planning.