What's up with Bud's Gun Shop bidding?

What's up with Bud's Gun Shop bidding?

This is a discussion on What's up with Bud's Gun Shop bidding? within the General Firearm Discussion forums, part of the Related Topics category; Have not looked into this but I seem to remember you can get bit if you are not careful. Anyone have knowledge/experience with this? (If ...

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Thread: What's up with Bud's Gun Shop bidding?

  1. #1
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    What's up with Bud's Gun Shop bidding?

    Have not looked into this but I seem to remember you can get bit if you are not careful. Anyone have knowledge/experience with this? (If it's too good to be true...")
    gatorbait51 likes this.
    "The heart of the wise inclines to the right, but the heart of the fool to the left." Eccl. 10:2


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    Your chance of the winning bid will depend on how many people are bidding. If like other penny auctions, you buy so many dollars worth of bids. Let's say $20.00. Each time you bid, a penny is deducted from your total. You could win the item, or you could lose your $20. Best chance on penny auctions are if they go on 24/7. Then wait until early morning to bid on them. Hopefully not as much competition.

    Added: I won a $50 Walmart gift card with a $1.87 bid. Made for the cheapest I had bought ammo in a while. But usually you'll spend your bids with nothing to show for it.
    Parrisk and gatorbait51 like this.
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    Thanks!
    "The heart of the wise inclines to the right, but the heart of the fool to the left." Eccl. 10:2

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    Quote Originally Posted by archer51 View Post
    Your chance of the winning bid will depend on how many people are bidding. If like other penny auctions, you buy so many dollars worth of bids. Let's say $20.00. Each time you bid, a penny is deducted from your total. You could win the item, or you could lose your $20. Best chance on penny auctions are if they go on 24/7. Then wait until early morning to bid on them. Hopefully not as much competition.

    Added: I won a $50 Walmart gift card with a $1.87 bid. Made for the cheapest I had bought ammo in a while. But usually you'll spend your bids with nothing to show for it.
    I've looked into some of those "penny" auctions and here is what I have learned. Specifically about Quibids.com

    "Bids cost just $0.60 apiece. Stock up and start searching our auctions for brand-new products."
    Right now there is a $25 gift card for Home Depot with $4.07 bid on it at the present time. If you do the calculations, that is 407 bids at .60@. That means Quibids has already collected $244.20 for that $25.00 Home Depot Gift card.

    Sure, each bid raises the price by only .01, but each .01 is actually .60 collected by the auctioneer.

    The only way you will come out ahead is if you get into the bidding very late, or you are using free bids.

    Like Archer intimated, if you don;t win, you DO NOT get any of your bids back, you are just out 60 cents for every bid you placed.

    I wish I had the cpital to start my own 'penny'auction.

    This is definitely one of those "If it sounds too good to be true, it probably is."
    gatorbait51 and oneshot like this.
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