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Discussion in 'General Firearm Discussion' started by coyoteman5, Feb 6, 2012.

  1. coyoteman5

    coyoteman5 North south east west Active Member

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

    Greenbug Bend Well-Known Member

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    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.
     
  3. DieselScout

    DieselScout S Clackamas County Well-Known Member

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    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
     
  4. CarlMc

    CarlMc Safely north of Seattle Active Member

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    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.
     
  5. SteveXKR

    SteveXKR Tacoma,WA Member

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    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..
     
  6. edogg

    edogg Western Washington Active Member

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    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.
     
  7. huthuthike

    huthuthike Hillsboro OR Active Member

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    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.
     
  8. chemist

    chemist Beaverton OR Well-Known Member

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