Beezid: Auction excitement, but it will cost you

Pennies

Some beezid.com auctions increase a penny at a time - for $1 a bid. Image from Flickr.

Most everyone who shops on the internet is looking for a deal. There are many auction and low-price websites out there that are very popular, though Beezid.com offers a rather unique action-style experience. You can get a good deal on Beezid items, though, like most online shopping, the “ticket price” of Beezid products isn’t the real price you pay. Make sure you know how Beezid works before you end up taking out online cash loans to pay for your purchases.

Beezid Bids

The Beezid online shopping system is half auction house and half pay-to-play. You purchase “bids” – much like credits – from the Beezid site. These Beezid bids range in price from $1 each if you buy 15 bids down to 60 cents apiece for 200 bids. These bid credits from Beezid are non-refundable, so once you have purchased them, you cannot get your money back.

Beezid Auctions

There are then two basic types of auctions – penny auctions and reveal auctions. Penny auctions increase the price of the item by one penny each bid, and a timer resets every time a bid is made. The person with the most current bid when the timer runs out wins the item for whatever price is listed. Reveal auctions start with a higher price that you cannot see. You spend one Beezid “bid” to see the price of the item. Each time the price is revealed, it goes down. After a certain price point, you can choose to “buy now.” There are also “cherry auctions” that are reserved for first-time Beezid users only.

The real cost of using Beezid

Beezid auction offer both big and small ticket items at what appear to be great prices. There is the unpredictability of other users on Beezid, and  you never know exactly what an item will go for. It is important to remember, however, that each time you click the “bid” or “reveal” button on Beezid, it costs you between $.60 and $1. This means if you bid on an iPod 30 times and win it at $30, you will have spent $60 before shipping. On small items, this may not add up very quickly, but on large items you may quickly get yourself into a situation where you’ll need short term loans for bad credit to pay for the item you’ve won. You can still get great deals on Beezid, but there are costs above and beyond the final auction price.

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