Thread: Gun site

Yeah has anyone used or looked at a site called guns 4 pennies Kind of wondering about people experience with it.

Just checked it out. Looks like you have to pay for a bid package? It must cost you "x" ammount each time you bid. Seems like the auction never stops since everytime a new bid is placed the auction timer resets and starts over again? Seems like a racket to me, of course I know that I am not so lucky to place a $98 winning bid on a Nighthawk custom 1911.

If it sounds to good to be true it is. Everyone is out to make a buck and nobody online is going to give you anything. Typically there is a per bid charge or the "pennies" you bid with cost dollars each.

Sent from my DROID BIONIC

Say a gun retails for $500. Since you essentially buy a lottery ticket just to bid, the company makes several thousand dollars for each product they sell. ISTR Quibids is the same sort of thing. There was an article I read on the topic just the other day that stated these outfits are popping up like crazy because the profit is absolutely insane.

Or, in more common rhetoric: A fool and his money are soon parted.

There was discussion on it before here.
Consensus seem to be that you have to be really lucky to get anything at a decent price, and otherwise you'll spend a fortune on these 'penny' bids..

Penny auctions, while not necessarily a scam, are not a good deal. Between paying for your bids and the auction clock resetting every time a bid is placed, it's easy to rack up quite the bill and not even win the item.

My wife and I have been using quibids for a while. Probably spent $60 and have received $200 worth of gift cards. Bids cost you 60cents (but you can earn free bids), only increase the price by a penny and reset the clock (10-30 seconds usually)for the auction. You can easily spend $6 (10 bids) or lots more trying to outbid someone else for the right to pay $50 for an ipad. You have to think about what you are doing. The math is easy, that $50 ipad represents 5000 1-cent bids - 60 cents per bid times 5000 = $3000 for quibids. They bought the ipad for $600 and come out way ahead. The auction winner may have spent 60 cents or $60, they probably came out ahead. The ones who don't win are the ones who spent $200 and didn't win the auction. They have lost the money they spent and have nothing to show for it.

Yeah, it's gambling, pure and simple. Like CarlMc said, all you're buying with your bid is a lottery ticket.