Puddy Posted March 27, 2011 Share Posted March 27, 2011 (edited) Anyone use them? Have you been happy with them? A business model that seems like a gold mine for the owners. I wondered how they made money selling $100 gift cards for $4.00. For those that don't know you buy these 'bid packs' which cost roughly .60 per bid. The cost of the item being auctioned incrementally goes up by .01 every time a bid is placed. Each bid also adds roughly 10 seconds or so to the timer. So in my example above there were 400 bids to win a $100 gift card. The site received roughly $240 (.60 * 400) for a $100 gift card. Whomever won the auction probably got a good deal depending on how many bids they placed. Seems like a timing game with a lot of luck involved. Edited March 27, 2011 by Puddy Quote Link to comment Share on other sites More sharing options...
Big John Posted March 27, 2011 Share Posted March 27, 2011 Skoreit thread Quote Link to comment Share on other sites More sharing options...
Puddy Posted March 27, 2011 Author Share Posted March 27, 2011 Skoreit thread My bad...I have Holy Roller on ignore. Quote Link to comment Share on other sites More sharing options...
TimC Posted March 27, 2011 Share Posted March 27, 2011 My bad...I have Holy Roller on ignore. Holy Roller sold Detroit for 38 cents. Quote Link to comment Share on other sites More sharing options...
HowboutthemCowboys Posted March 27, 2011 Share Posted March 27, 2011 My bad...I have Holy Roller on ignore. Holy Roller sold Detroit for 38 cents. Quote Link to comment Share on other sites More sharing options...
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