Is Beezid A Scam?

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Beezid Review

Name: Beezid
Website: www.beezid.com
Price: Various Bids amounts but a minimum $27.00 for 30 bids
Owners: CEO and Founder Max Bohbot
Overall Rank: 5 out of 10

Beezid Overview

What is Beezid? Is Beezid A Scam? Do you need more information on Beezid?

Well, first let us look at what Beezid is. Beezid is an online retailer and a competitive based online penny auction site that went online in 2009.

Beezid, does things a little differently than more popular auction sites, like eBay. It’s a penny auction where all auctions start out at $0.00 with a couple of hours on the timer for the auction. Every time a bid is placed the item goes up a fixed set amount (.01 usually) and the time is reset back to when the time the bid was put in. So when the timer reaches zero with no more bids, the last individual to place a bid wins the auction. Once the timer gets down below 15 seconds if a bid is placed during this time the timer goes back to 15 seconds.

Only one person can win that auction, so members who placed bids while bidding on that item that didn’t win, will have spent money without winning anything. So basically losing money.

It’s has a very different approach to online auctions compared to eBay. Beezid isn’t the only online penny auction action in town, some of Beezid competition are:

Quibids.com
DealDash.com
BidFun.com
HappyBidDay.com.

Quibids is the 800 lbs gorilla in the room.

There are some many more smaller ones they are too many to mention. So, it seems to be a growing and lucrative business.

Check out my other reviews on penny auctions sites, Is Quibids A Scam? and Is DealDash A Scam?

In order to bid on items, you are required to purchase Bids Packs before actually bidding on an item. You can purchase several different amounts of Bids Packs, with the more money you spend, the greater the number of Bids you receive from Beezid. To significantly increase your savings, an integral part is trying to lower your cost per bid. Basically, spending more money to receive more bids, see example below, but also by using Promo Bids, Super Bids, and Bonus Bids. These “Special Bids,” can be obtained by various mean by using the site or special offers. More information on the type of bids and how you can get them.

The Low Down On Cost Per Bid Important

Depending on what Bid Pack you buy it comes out to .55 cents to .90 cents per bid.For example, they offer

30 BIDS for $27.00 (.90 cents per bid) *** Worst Deal!!! This is targeted at new people, wanting to try it out and is deplorable.
50 BIDS for $40.00 (.80 cents per bid) |
100 BIDS for $70.00 (.70 cents per bid) |
200 BIDS for $120.00 (.60 cents per bid) |
500 BIDS for $300.00 (.60 cents per bid) |
1000 BIDS for $550.00 (.55 cents per bid) ***Best Deal!!!

Beezid claims that the average winner’s discount is 94% off of retail. The items Beezid has on their auctions range from cars all the down to store gift cards. In 2013, Beezid opens their store where you can purchase the same items you can bid on except not having to win using their bidding auction. Additionally, members can sell their own items from the auction back to Beezid store, instead of receiving it. The store will sell your items to other members via their store.

beezind items — Examples of items offered at Beezid.

The Good & The Bad

The Good:

94% discount off of retail for average winners.
It’s one of the big guys in the penny auction business.
People do get great products for cheap.
Can resell won item back to other members via their Store
Lots of various items to bid on (Gift Cards all the way up to Cars)

The Bad:

You can LOSE MONEY on Beezid and just because you lose money doesn’t mean it’s a scam.
Hard to Understand. The Number one reason for people feeling scammed from Beezid, they don’t understand how it works. They didn’t take the time to read how it works.
Weird looking mascot. Gives me the sense of a used car salesman. Creepy little fellow.
Some people report Beezid uses “bots” to outbid real bidders.
SiteJabber gives this a bad rating, to check it out click here. 255 one star ratings.
Very easy way to lose money with zero rewards.
The amount of time to watch and bid on an auction item and win is crazy. With the countdown going back to 15 seconds with every bid placed. How much is your time worth.
Auctions can run for days.
Beezid is making huge money on items. Each penny you see in a price is at least had .55 cents spent on it. Say an item retails at $100.00 and the auction ends at the price of $10.00. So it takes 1,000 bids to get to $10.00 and let’s assume its at the lowest cost (.55 cents). So, 1000 x .55 = $550.00 dollars + the $10.00 for a grand total of $560.00 on a $100.00 retail item, Beezid profits of $460.00 and that’s assuming at the lowest cost of .55 cents. My GAWD!!!! Sure you might have gotten the item cheap, but Beezid banked a lot of coin.
Be prepared to spend $550.00 to be able to get the best deal possible.
Items are ship directly from their suppliers. No tracking numbers, so you can’t track the package.
Takes time to learn how to effectively use penny auctions.
They also freeze a price on certain items, (which at first seems like a good deal but isn’t), so people continually hit the bid hoping to win an auction, and meanwhile, Beezid profits just keep climbing.
One of the Highest cost per bid out there .90 cents. Horrible Horrible Horrible!!!!

Who is Beezid For?

Beezid is for intelligent people looking for good deals on a competitive online auction site. Intelligent, because you must know what you are doing and understand penny auctions, so read up on this, and take advantage of promo bids and other option to purchase items without losing your hard earned money to Beezid. Because it is sooo easy to waste money with no reward here. Research, research, research!!! There are deals to be had, but in order for the deals to be had, someone loses money along the way. Are you that someone? BEWARE!!!

Beezid Tools & Training

They offer a short training video located in their Help section.

Beezid Support

They have the ubiquitous FAQ section along with the ability to send a 1000 character email to the Beezid Support Team, along with mailing address and telephone number. I can hear it now, “I want my money back!!!”

Beezid Price

As stated above Beezid prize structure varies, starting at $27.00 and all the way up to $550.00 to be able to purchase Bid Packs. You have to spend $550.00 to get the best deal on your cost per bid. I also break it down in this list. So every time you bid, you are spending at a minimum .55 cents, with no guarantee of anything.

30 BIDS for $27.00 (.90 cents per bid) *** Worst Deal!!!
50 BIDS for $40.00 (.80 cents per bid) |
100 BIDS for $70.00 (.70 cents per bid) |
200 BIDS for $120.00 (.60 cents per bid) |
500 BIDS for $300.00 (.60 cents per bid) |
1000 BIDS for $550.00 (.55 cents per bid) ***Best Deal!!!

So, if you’re inclined to start bidding the accept all major credit cards, Visa, MasterCard, Discover, American Express and PayPal.

My Final Opinion of Beezid.com

Is Beezid a scam? While in my opinion, Beezid appears to ride the razor’s edge between being a scam and a legit company. It falls, more on the side of a legit company. It falls in that grey area, neither black nor white. Would I recommend this to my family members absolutely not? There are better ways to spend your money with a guarantee of winning something. If you’re looking for cheaper items, I would suggest Ebay.com or Craigsist.org.

I am sure a lot of people jump on this website without reading or knowing anything about how penny auction works, therefore pissing their money away. Some people do get items cheaper than retail, but I believe a lot more of it actually an astronomical amount of money goes into Beezid pockets. More than should in my opinion. It is way too easy to lose money on this site. So do your Due Diligence, research the company, inform yourself if this looks interesting to you. As the lifeguard signs say, “Swim At Your Own Risk” Or as I say for Beezid, “Don’t go swimming at all.”

Beezid at a Glance…

Name: Beezid

Website: www.beezid.com
Owners: CEO and Founder Max Bohbot
Price: Various Bids amounts but a minimum $27.00 for 30 bids
Overall Scam Rank: 5 out of 10

VERDICT: LEGIT, but buyer beware!

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