can people really save money through bidding sites?

Hello and Good Afternoon Everyone,

            With bidding sites such as dealdash.com and tophatter.com advertising savings that customers achieve through their sites, I have to ask this question.  Can people really save money through bidding sites?  The savings portrayed on dealdash.com really sounds too good to be true especially when someone is getting a huge flat screen tv for $100 or a laptop for $30.  When I see testimonies such as these, I immediately become skeptical and full of disbelief.  

            What does everyone else think about bidding sites?  If someone has indeed experienced success or perhaps disappointment through them, please feel free to share.  I would be interested in any review about bidding sites rather it be positive or negative.

              Thank you

              George
GMartinAsked:
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CESNetwork AdministratorCommented:
From what I understand you buy the "bids" that are used for each deal.  So for example, you pay $100 for 100 chances to click on the "bid" button.  Then, there is no guarantee you win that item.

So while you may land a TV for $100, you might spend more than that just on the bids necessary to get that $100 price.
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GMartinAuthor Commented:
I see what you are saying.  That makes sense.  Just one more thing.  What happens if the bid on the item is not won.  Will the money used for the bidding be refunded or is that simply lost?

Thank you

George
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GMartinAuthor Commented:
Also, it sounds like 2 things are being paid for in this scenario.  As you mentioned, the bids.  But, also the asking price of the merchandise too.  Is that true?

George
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David Johnson, CD, MVPOwnerCommented:
There is no such thing as a 'not won' item.

How these sites work.

Lets say they have a TV that MSRP is $1000.  if you have 50 bidders, bid start at $0.01, every bid comes out of your account whether or not you win or lose. Every bid increases the time-out by a set amount (1 minute - 30 minutes)
If I've done my math right if the bidders increase the bid by $10 and the top bid is $200 the site collects $2,100

$200 from the winner and $1,900 from the losers
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GMartinAuthor Commented:
Hello and Good Evening Everyone,

              Thank you for your shared thoughts to my question.  After carefully reviewing all of the well thought out feedback, I have come to the conclusion it will be to my best interest to stay away from bidding sites.  

              George
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BillDLCommented:
It's similar in principle to those TV adverts where you phone or text an "answer" and it costs you a minimum of something like 3 bucks over and above your standard provider's charge for the text or phone call.  The prizes can be very expensive ones, like a new BMW and a 2 week all-inclusive vacation to Sandals in Barbados.  When you consider the tens of thousands of people who are effectively spending 3 bucks each for what amounts to one lucky dip raffle, the company holding the competition is getting very rich.  Even though it might seem to be a gamble for the company, these adverts are strategically placed during prime-time TV viewing to induce as many people most likely to enter this kind of competition to have one or more shots at it.  Does anybody ever really go and check to see who won after the competition closes?  My guess is that if the company didn't pull enough money to make a very healthy profit after deducting the costs of the car and vacation, the "winner" would be fictitious or the owner's nephew.  The principle is similar to the bidding sites in that the "entrance fee" is small enough to dismiss in comparison to the potential savings/winnings, so human nature takes over and the owners are getting very rich very quickly.  I wish I had dreamed up such a business plan.
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