I stumbled upon this[=http//www.scoreit4lessauctions.com/]this
site while looking for cheap HDTVs (aren't we all P), and couldn't believe it to be true. I mean, come on a 60" LG plasma for < $53.99? Really, now.
But, after reading their "how it works" section (I'm sure it omits some things), it seemed to make logical sense. They have an auction for something (iPod shuffle), and they limit it to, we'll say, 100 bidders. The winner is the person who has the highest, unduplicated bid. So, if there was only one person who bid $10.44, but multiple people who bid $10.45, $10.46, etc., then the person who bid $10.44 would win.
This is how they get you, and how the site must remain feasible each bid costs you either $4 (basic member) or $2 (premium member). So, in the above example, even if EVERYONE who bidded on it were premium members, the site would haul in $200. They take half of that to buy the iPod and ship it to you, and then donate some to charity (they say), and then boom, profit for them.
So, can someone let me know if this site is really legit? If they've been around/or will be around for a while? Also, if anyone has any personal experiences to share about this site, please feel free to do so. And, if this site has already been discussed (or sites similar in nature), I apologize.
Thanks for your help!
Interesting idea. Don't know if it's legit though
Yeah, that is interesting, that $53 TV had 8099 bids, that's 16k+ O.O Looks legit, there's definatley a way to explain how they do it, but I'm not sure exactly what your chances are of winning, probably less than 1%.
Yeah it seems legit, what I don't understand though is how do you know if your bid has been duplicated or not? Do you just basically take your chances and hope that you are the person with no duplicated bid, or is there a way to check?
what happens if they don't get the prescribed number of bidders paying the $2 or $4, and bidding?
I was going to try it but i still don't understand it 100%
I'm so confused....
I think it goes like this
They put up an item.
People bid an amount for what they think will be the lowest, unique dollar amount.
Most people lose (obviously).
Then the lowest unique bidder wins (so if Bidder A bids 10.99, Bidder B bids 11.01, and bidder C bids 10.99, bidder B wins).
Every bidder in the pool pays $2 or $4 based on their membership just in order to bid in the first place.
Does this place also have room for a HIGH bidder? That is, if you want to buy it for a regular ebay-like price, you can do that too, and 2 items are auctioned, one for a ridiculously low price, and another for a reasonably high price?
These are legit but its really a gamble. I tried a few times on one that would donate to a charity...
Sorry, I just kind of disappeared after making this thread.
@ Jeremiah1218 - As far as I know, you bid blind. You find out at the end of the auction if your bid got duplicated or not.
@ doylnea - They set a time limit for the auction, as well. It's just that the time limit is ridiculously long (think months), so it's more likely they'll reach that number of bids.
@ nobody2000 - You described it accurately (to my knowledge), except that it's the HIGHEST unique bid, not lowest. I also don't think they do the normal-type auctions, like eBay.
@ Wolfeman - ScoreIt4LessAuctions donates to children's charities.
Someone on Scam.com said that, mathematically, you lose a lot of money on these sites, versus just buying the item. But, I figure, if you just bid once on items you want, you've got a lottery-esque chance of winning said item. Seems funsies.
I am the owner of Scoreit4lessauctions.com, I was doing some searches on what is hitting the web about my company and I noticed this thread, I am happy to answer any questions anyone has if you care to ask.
The only thing I ask is please treat me like you would want to be treated, do not call me a scammer because nothing could be further from the truth.
I will check back with this thread daily and try to get to everyones questions.
Thanks for the opportunity to get to know everyone.
Well, what's roughly the time limit on auctions? Saying the minimum bid number gets reached, how long will the auction go for?
Seems like they go for months, is this true?
First, thanks for the opportunity to answer questions
The time limit on the auctions is based on the number of bids we recieve, the reason you have seen some take several months has several reasons
1. This is my companies second website in 3 years (the other Searchyoursalon.com) and I just launched Scoreit4lessauctions.com at the end of February 07, as you might imagine it takes time to build members and the needed bids to pay for the auction item and donate to the charities.
2. The other reason was the cost of the products I chose when I started, they are nice but also expensive and since I have learned that I should have chosen products that were still nice but not the most expensive top of the line items that would take a long time to close.
Anyway, the website has gained a lot of members since we started and now we are closing auctions weekly.
So to be more specific on the time the auctions stay open
1. If the minimum bids are reached and the maturation period has not expired then the auction will continue until the time counts down to zero.
2. If the minimum bids have not been reached and the time has expired then the auction will continue until the minimum bids have been reached. Once the auction has reached the minimum bids then the auction will move into "Closing Soon" and then stay open for 3 more days then close and award a winner.
3. If the auction maturation has not run out and the maximum bids have been reached the auction will enter "Closing Soon" and then stay open for 3 more days and then close and award a winner.
I hope this has helped you understand the time (maturation) for the auctions to remain open.
Please let me know if this helped?
Hey, I was wondering is there a way that you can know for sure or have higher chances of winning an auction? It seems from what I have read that you just make a bid and hope that yours is the highest unique bid and that you win.
I think I was reading (may have misread) on the ScoreIt4Less site that with a premium membership, you can see how long before the auction closes, as well as the current bids.
Am I right to believe this?
We are the only unique auction website that offers a Premium membership level which offers the following
1. Premium members can see all bids in any auctions before and during bidding. This is a huge benefit and takes the guessing out of what to bid and turns it into a strategy for bidding against other members.
2. Premium members bid fees are reduced by half (from $4.00 to $2.00 per bid)
3. If Premium members win then they have the option of selling the product back to us for 80% of the liste retail value (we send the PM a check and they can spend it how they want)
4. Premium members receive 2 free auction credits for our free auction area for every unsucessfull bid vs basic members who only recieve 1.
This membership level costs $50.00 annually but saves members money in the long run with the reduced bid fees.
So has anyone here used this? I think I want to try this site out. I want to know how legitimate this is. D
You guys know this is a gamble, a losing bet. The amount of times you would have to enter to win would cost you more than just buying the product outright.
TFOAF--If it sets your mind at ease we are a member of the Better Business Bureau with their company link on our website. We have had no complaints since we have been in business, you can click on their link on our website and it will take you to their report on us.
justinag06--You are part right, for our Free Basic members it is a gamble but for our Premium members it is a strategy because our Premium members can see all the bids in any auction before and during bidding. This makes bidding a strategy game vs other Premium members rather then a gamble, we have had many Premium members that have won multiple times so they have proved that there are strategies that work (see our Bid Now page, Frequent Winners)
Let me also address one of the questions that comes up the most and that is that a winning member will spend more to win then to buy the product retail.
We have never had a member spend more winning an auction then it would cost them to buy it retail.