Does anyone know of anyone that has got a good buy on this or similar?

[Lester]

Hi all, I have seen these sites a few times. Thought I would throw the question out in this large forum, and if Knowone has, or knows of anyone that has had a good cheap purchase on such sites; let it be a warning to others. They say that items do go at very cheap prices, like 80% off of retail. But if that happened the sellers would not participate in such sales.

Just watched a Canon 5D MK III with bidding at $15.00, but was rising by 1cent every 15 seconds. If the item doesn't get another bid within 20 seconds it is sold.

http://www.viaziz.com/adtracking/39

[supernova1965]

Well I was just watching it and everytime someone bids the time goes up I reckon it's a scam somewhere along the line I don't know what it is but something is rotten in denmark.

[PeterM]

Hi Lester,
I don't know anyone who has used this kind of business but the old saying if its too good to be true comes to my mind as does buyer beware.

Have a read about Penny Auctions
http://en.wikipedia.org/wiki/Bidding_fee_auction

Do a Google on Viaziz seems they started in late 2010 in New Zealand.

[Lester]

I agree Warren. Thanks Peter for the link that explains how they work and rip off the unwary.

I hope this helps to guide others Away from such sites.

All the best.

[Stardrifter_WA]

The old adage "if it sounds to good to be true, it usually is" still applies here. I cannot understand how anyone with an intelligent mind doesn't understand how these sites work.

"A scam by any other name still stinks" (apologies to Shakespeare).


Thanks to PeterM for the article that explains it nicely

[Liz]

I got sucked into another site where you bid for goods, and I was bidding on a camera, but all a scam. If this is similiar, you buy bids, like $1 each, and keep bidding. The money disappears in the blink of an eye, and you find yourself buying more. Beware!!

[GeoffW1]

Hi,

Choice had an article about "penny auction" sites and labelled them a scam

http://www.choice.com.au/reviews-and-tests/money/shopping-and-legal/shopping/penny-auction-investigation.aspx

Cheers

[pgc hunter]

That's like that "Quibids" auction site that keeps being advertised on the TV. The way I see it, it is practically impossible to win, as whenever someone else places a bid, the timer reserts, and with thousands of presumably ill-informed users trying to grab these products, you are basically stuck in an endless loop.

[jjjnettie]

Skeptics with a K did a segment on Penny Auctions in episode 70.
I highly recommend listening to it.
http://www.merseysideskeptics.org.uk/podcasts/

[Stardrifter_WA]

Of more concern is the "marketing scams" that Coles and Woolworths are adopting.

Have you noticed that "special" prices on goods now only apply if you buy multiples of that item? Instead of being able to buy one item at a special price you have to buy 4. This gets people "sucked in" by buying more of that particular product. People buy more to get that special price without realising it is false economy, particularly if they only wanted one. They go into buy one item, but then think that they want the special price, so they end up buying more of that item. Otherwise you pay full retail price for that particular item, if you only want one. That is ok if you happen to want to buy multiples of that particular item, but mostly people don't.

I think this is a deceptive practice to entice people to buy more or if they want a single item then they have to pay more. Either way, they win whilst appearing to offer good value. :mad2:

This is what you get when companies have market dominance and little "real" competition. This is particularly noticeable with Coles and Woolworths petrol outlets that always seem to advertise the exact same prices, at least, here in the West.

[jjjnettie]

ahhh regular grocery shopping can be fraught with false bargains. It pays to check the prices.
The large economy size is not necessarily the cheapest.