Recently, many new style auction sites have been popping up all over the internet. These Auction sites, like www.bidzillion.com are very different from traditional sites like eBay. Most people are familiar with how eBay works, even if you’ve never used it before. You place you bid on an item you want to purchase and whoever out bids the other guy, is the winner.
Sites like Bidzillion work in a very different way. Let me start by saying that these sites claim you can buy brand new items at up to 99% off retail price. And after doing some research, it does appear that this is possible. However, in order to place a bid, you must first buy a “package” of bids. These can range anywhere from $15.00 for 20 bids, to $500.00 for 1,000 bids.
So, before you can even attempt to bid on an item, your spending money. The way the auction works is very different from traditional auction sites as well. All the items, which is typically about 30-50 items available to bid on, have a countdown timer displayed which typically lasts about 6 to 9 hours. Usually, there is no action on the items until minutes before the auction is ending.
So, as an item I was interested in, a $100 American Express Gift Card came down to about 5 minutes left. I placed a bid. The way the bidding works is that every bid is 1 penny more than the last. So at the time of my bid there was .15 cents already placed. I placed my bid, took it up to 16 cents and anxiously awaited my gift card.
However, shortly after, I was out bided by another cent! I bid again, and then so did somebody else. What eventually happened is that as the timer goes down, someone would place a last second bid, and then the timer restarts! It restarts at a 10 second count down, so every 10 seconds someone would throw a bid on it, over and over again restarting the timer!
This went on for hours, in fact about 2 hours until the auction finally ended. As a result the gift card cost got up to around 8.oo, but I had placed my last bid hours ago.
The only way this style auction would be useful, is if you had hours to sit around and spend watching the bids, making sure you are the last one bidding. After the money it costs to actually buy the bids and the time it takes to win the auction, I can conclude that this was a big waste of time and money!
It’s almost impossible to get the item you’re actually interested and buying bids is expensive. If you’re looking to buy discounted gift cards, or discounted anything; in my opinion its best to stick with websites who offer set discounts on these items in a straight forward, easy manner.