Pat V Penny auctions fact or Fiction

Jan. 5, 2010 - PRLog -- Telebid Scam or not?
Firstly, what is Telebid? Telebid is an auction site, but an auction site with a difference. Firstly you cannot just bid on any old auction that comes up, you have to pay to be able to bid.

So how does Telebid work? First you need to register. Once registered you log in and buy bids. Bids cost 50p (£0.50) each and come in a variety of packs from £5 for 10 bids to £250 for 500 bids. Now you can use these bids to bid on auctions. An auction starts at £0.00 at a predetermined time. When someone places the first bid the price goes up by £0.07 and the time that the action ends increases by a random number of seconds from (anything from 1 second to 20 seconds). The time will count down until the time reaches zero and whom ever is the last bidder at that time wins the auction but every time someone bids this adds time to the countdown timer. Let us explain this further:

An auction is due to start at £0 in 4 hours (time now 1300). Someone places a bid and the bid increases to 4hours 10 seconds and the price goes to £0.07. When the count down timer reaches less than 1 minute (in around 4 hours) others will start bidding (maybe sooner) and for every bid the price will increase and so will the count down timer. When the count down reaches 1 second many people will sometimes bid and push the timer high and the count down continues. This carries on sometime for minutes and sometimes for hours until everyone else gives up and the count down time reaches zero and who ever is the bidder at that time wins the auction at what ever price it has reached.



An example: A wristwatch will start a Telebid auction in 4 hours time. Someone has placed a bid which puts the price at £0.07 and ads 10 seconds to the timer. With 2 hours to go someone else places a bid and the price goes to £0.14 and the time has increased by a few seconds. Most bidders will not bill until less than a minute is left. With only seconds to go 10 bidders put in bids and the price increases by £0.70 and the timer increases by 1 minute 10 seconds. And so it goes on until 1 bidder is left when the timer reaches zero (and the price can have increased to £10, £50, or even £300 depending on the value of the watch and what people are willing to bid up to). Sometimes an item will sell for a fraction of the value. A Nintendo Wii for example may sell for £20. The site also sells bids called 'free bids'. 300 free bids (worth £150) are offered for sale at 100% off. In other words if you win that auction you will receive 300 bids to use at future auctions but not have to pay for them.

So how does the Telebid site make money? Ok, let us do the maths. Each bid increases the auction price by £0.07 but COSTS £0.50. Many people are bidding on the same item. Because free bids are free, i.e. you do not pay for them if you win, the price can rise to much more than the actual value. Sometimes 300 free bids can end an auction at over £200. How much does the site make for this? £200/£0.07=2857 bids at £0.50 each bid=£1428 for something that has cost them £150. Another example is a laptop computer valued at £899 but with 100% off finally sells for £400 (but the buyer only pays for delivery). £400/£0.07=5714 bids at £0.50 per bid=£2857 instead of the £899 it cost the site.



What is the catch? Only one person can win each Telebid auction. Therefore there are numerous losers. Is Telebid a scam? That depends on your definition of Scam. Does the Telebid Auction site give you what you pay for? Well you pay for bids and that is what you get. When you use your bids do you get the items you bid for? Mostly, NO. Most people will lose an auction. Is that a scam. No You do not have to bid. Then why did you come here? To try to get something that has been suggested you could get it cheap. This site is playing on your own greed. Does that make it a scam? No. Do people who win auctions get the items that they won? We do not know. We only know that if you bid on and win an auction of free bids then you will receive your free bids. Do Telebid have people or robots that bid and win their own auctions thus denying members a chance to win? We do not know but why do they need to? As you can see from the above figures they make enough profit from each auction without resorting to cheating. Ok, some auctions they will lose some money but overall they make large profits on most of the auctions.

How to win? Don't buy bids. Seriously, only buy your initial bids of say 250 bids. Then bid only on bids. Ignore the temptation to bid on other items. Only bid on free bids and then use the bids you win to bid on more bids until you have several thousand bids. Then you can set bid butlers to bid on other items knowing that you can outbid others. Any bids you do not have to use are returned to your bid account. For example if you have 15000 bids and set a bid butler to bid for a laptop auction 100% free (an auction for a laptop that if you win the Telebid auction you only pay for the postage). You set the bid butler to bid starting from £500 up to £1000 (7142 bids). The auction ends at £800 so you used 4285 bids so 2857 bids are returned to your account. Don't forget to now bid on more bids to top up your bid account.


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Penny & Reverse Auction The New Rage On The Internet ?
By cconcerned citizens
Dated: Nov 28, 2009
Is it true, the traditional ebay style auctions have become a thing of the past ? seems like these pay per bid
auctions are taking over.
There seems to be a great deal of chat and controversy about the origins and the concepts behind these
auctions, for runners in the development of these auctions were telebid, and then swoopo, for the sake of
space we will illustrate just one of these telebid although the concept is identical to swoopo or at least it
seems very close.
so whats the fuss about ?
before we get into the concept let me say this, since the introduction of telebid and swoopo auctions there
have been a huge influx of wannabes, mostly people selling swoopo or telebid clone each with a different
skin( template so they look different ) after having purchased several of these so called clones one thing
became apparent be it deliberate or a flaw in the code, you be the judge the clone have a tendency to fall
part after a certain amount of products re listed and a certain amount of visitors start using the site, meaning
if the site becomes popular and the owners start to see an abundance of members and list a reasonable
amount of products for auction the site seems to slow down,burn up the servers etc. when you contact the
sellers of the script the blame the customer for the problems claiming it's their servers, or someone has
hacked into the panel,or server and ruined the script on purpose. this behavior is suspect, since it is highly
unlikely that after this has happened several time what are the chances of this same problem happening over
and over to different customers. and then you would have to ask the question who benefits if these clone to
don't work as well as the original swoopo or telebid auctions, not the purchaser of the script, not the
customer who is trying to join and win ? the winners seem to be telebid and swoop because as a last resort
customers have no choice but to use their site to win anything.
during our research we have found several odd coicidences, several of the sellers of these clones have

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