# BidFire bids on KDX



## legalbs2 (May 27, 2009)

Just saw this site by accident, www.bidfire.com, I think.  Anyway, people are bidding on a brand new KDX.  This was the bid at the time I was on that site:  

BidFireWelcome to the fire sale!Logout HomeHow Does it Work?Winners’ CircleHelpMy Bidfire
Recent Auctions

50 Bids

Total Time
25:24:52
Final Bid
$13.30

They are still bidding at it is now up to:  $33.90.

Check it out.


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## geko29 (Dec 23, 2008)

Complete and utter scam.  These types of auction sites have been popping up like crazy because it's beyond easy for the owners to buy stuff (even if they pay full retail or worse), sell it for 5-20% of MSRP, and make 1,000% profit.  To use the Kindle DX as an example:

The bidding starts at $0.
Each bid costs $1 to place, and raises the selling price by 5 cents.
If a bid is placed within a minute or so of the end of the auction, 30 seconds is added to the clock.
When no bids have been received within a minute, the auction ends and the last bidder gets the item for the price listed.

What this means for the Kindle DX, which is currently at $58, is that Bidfire has made $1160 ALREADY, and the auction isn't even over yet--and it won't be for a while.  There appears to be about 5 people repeatedly bidding on it, so in all likelihood each of them has dropped a little over $200 so far, and they haven't even won the item!  4 of them are going to go home several hundred dollars poorer, and with nothing to show for it.  And the last one will get a KDX for $350-450 total cost (guessing it'll end in the $125 range, plus bidding costs).

Stay far, far away.


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## legalbs2 (May 27, 2009)

You are so right, geko29!  I just had to mention it here to help others avoid the trap.  People do not realize they probably will not win and be out of pocket whatever amount of money they purchased.  I purchased $10 and it was a donation, of course.  Love to watch the bidding though.


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## cloudyvisions (May 21, 2009)

I thought it looked a bit fishy when I visited the site...the timer and all just looked suspect.


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## geko29 (Dec 23, 2008)

Final tally on the DX:

$75.65 final bid + $1513 bidding fees = $1588.65 gross revenue
less $489 purchase price = $1099.65 net profit, a 225% profit margin.

Not bad for 5 minutes work.


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## LauraB (Nov 23, 2008)

So you have to pay even if you don't win?? Sounds like a gambing site, more than an ebay type bid  site, yikes.  I'm glad you posted that infor geko29. Because I must have read the OP wrong, I didn't get warning lights from her post, but I sure did yours, and stay away I will


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## drenee (Nov 11, 2008)

Thank you for posting how these sites work.  I watched the bidding for a while last night and even tried to read "how does it work", but I could not get a good understanding of how it worked.  Thank you for the explanation.
deb


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## Ann in Arlington (Oct 27, 2008)

geko29 said:


> Final tally on the DX:
> 
> $75.65 final bid + $1513 bidding fees = $1588.65 gross revenue
> less $489 purchase price = $1099.65 net profit, a 225% profit margin.
> ...


So the "winner" got a bit of a deal on a Kindle if it is, in fact, brand new, never registered, and the losers got soaked.

"There's a sucker born every minute." -- P.T. Barnum


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## geko29 (Dec 23, 2008)

Ann in Arlington said:


> So the "winner" got a bit of a deal on a Kindle if it is, in fact, brand new, never registered, and the losers got soaked.
> 
> "There's a sucker born every minute." -- P.T. Barnum


The "winner" barely got a deal, since she (going by the registered name) probably spent over $300 on bids in order to secure the $75 price. So maybe she saved $100 at best over ordering one direct from Amazon. And yes, everybody else got thoroughly soaked.

However, I wouldn't doubt that it's brand new, never registered. The profit margin is too huge to make doing anything else worth the effort. There's even a distinct possibility that Bidfire never had it in their possession, and will now order one from Amazon to be drop-shipped to the winner. That's what I'd do, anyway.


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## Ann in Arlington (Oct 27, 2008)

geko29 said:


> The "winner" barely got a deal, since she (going by the registered name) probably spent over $300 on bids in order to secure the $75 price. So maybe she saved $100 at best over ordering one direct from Amazon. And yes, everybody else got thoroughly soaked.
> 
> However, I wouldn't doubt that it's brand new, never registered. The profit margin is too huge to make doing anything else worth the effort. There's even a distinct possibility that Bidfire never had it in their possession, and will now order one from Amazon to be drop-shipped to the winner. That's what I'd do, anyway.


I'd count a DX for $375 as a good deal. . . .but too risky a way to buy when it's not a sure thing. . . .I can see how the price can really climb, though, as once you have $40 or $50 invested in bidding, you don't want to drop out and have 'wasted' your money. Stupid way to buy something, but there it is. (My opinion ONLY, of course!)

Makes sense about how they fullfill the auction. . . . .still sleezy. . . . .


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## Betsy the Quilter (Oct 27, 2008)

Ann in Arlington said:


> "There's a sucker born every minute." -- P.T. Barnum


Not to hijack this thread but...
http://www.historybuff.com/library/refbarnum.html
and
http://en.wikipedia.org/wiki/There%27s_a_sucker_born_every_minute



Betsy


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## drenee (Nov 11, 2008)

I agree with you, Ann, way too risky for me.  I'm not a risk taker, so I would not like the anxiety of this type of auction.
deb


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## Ann in Arlington (Oct 27, 2008)

Betsy the Quilter said:


> Not to hijack this thread but...
> http://www.historybuff.com/library/refbarnum.html
> and
> http://en.wikipedia.org/wiki/There%27s_a_sucker_born_every_minute
> ...


  Look who else is ornery today! 

(I sit corrected. I'd stand corrected, but right now I'm sitting. . . .)


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## Betsy the Quilter (Oct 27, 2008)

Ann in Arlington said:


> Look who else is ornery today!
> 
> (I sit corrected. I'd stand corrected, but right now I'm sitting. . . .)












Betsy


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## MarthaT (Mar 3, 2009)

I feel bad for those spending all that money on nothing


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## pidgeon92 (Oct 27, 2008)

People allow themselves to be taken advantage of every day. That's why we have to wade through hundreds of spam emails daily. If it didn't work, they wouldn't send them.


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## drenee (Nov 11, 2008)

^^ boy, is that the truth.  My ex was one of the most gullible people I have ever met.  He drove me crazy with the things he wanted to try because he believed the advertising.  
deb


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## legalbs2 (May 27, 2009)

geko29 said:


> Final tally on the DX:
> 
> $75.65 final bid + $1513 bidding fees = $1588.65 gross revenue
> less $489 purchase price = $1099.65 net profit, a 225% profit margin.
> ...


You and I love our calculators, I would guess! You are right again. I did send an email to the lady that purchased the Kindle 2 for $21.50 final bid and asked her how much it really cost her. She stated she purchased $100 worth bids -= 115 bids and spent $30.00 to win the final on the K2 on that item only. She still spent $100 in total and has $70 more to spend on another bid. Still a good deal for a K2.

I asked how she did it. She stated she buys the $100 and waits until the last minute to start her bidding. If there are more than two people bidding, she does not buy into it. That takes a lot of self control and free time. But, she only paid $30 for the K2. The other bidders, total number unknown, walked away with ziltch for their money. I guess you pays your money and takes you chances.

I cancelled my account.


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## danfan (Apr 17, 2009)

legalbs2 said:


> You and I love our calculators, I would guess! You are right again. I did send an email to the lady that purchased the Kindle 2 for $21.50 final bid and asked her how much it really cost her. She stated she purchased $100 worth bids -= 115 bids and spent $30.00 to win the final on the K2 on that item only. She still spent $100 in total and has $70 more to spend on another bid. Still a good deal for a K2.
> 
> I asked how she did it. She stated she buys the $100 and waits until the last minute to start her bidding. If there are more than two people bidding, she does not buy into it. That takes a lot of self control and free time. But, she only paid $30 for the K2. The other bidders, total number unknown, walked away with ziltch for their money. I guess you pays your money and takes you chances.
> 
> I cancelled my account.


I got engrossed just watching one of those auctions the other day. I can see how people get sucked into it - then keep on bidding as they must win to make it worthwhile.
That said, pick a quiet time of day & not much competition, I am sure there are bargains to be had as long as you have good self control.


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## legalbs2 (May 27, 2009)

I am sure you are correct, danfan, but you still have to spend $100 for the chance of being the highest bidder.  If you are not, you spent $100 for your "fun".  I know there are no guarantees in life, but that only proves that life is a crap shoot at best.


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## danfan (Apr 17, 2009)

legalbs2 said:


> I am sure you are correct, danfan, but you still have to spend $100 for the chance of being the highest bidder. If you are not, you spent $100 for your "fun". I know there are no guarantees in life, but that only proves that life is a crap shoot at best.


Oh I agree! And I've seen people get into way too much debt on "simple" out of control buying on ebay - so throw in this where they have to keep bidding or lose the item AND the money, it's a disaster.

And, speculating wildly of course, I'd be paranoid that I wasn't bidding against a real person; that some piece of software was getting the price higher. I love auctions, but years ago, I got suckered into an "auction" that was basically a big set up. One of those where the first few items are genuine bargains - big TVs going for pennies on the dollar. Didn't take long to realize that the winners were plants. And then the bidding was for "whatever is in the box." First item, an expensive watch goes dirt cheap. Everyone gets frantic and the next mystery box is $5 paperweight just sold for hundreds.

Makes me paranoid about any of these things that can't be properly checked & verified.


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## legalbs2 (May 27, 2009)

My hubby thinks it is a type of pyramid scheme.  But, I think it is a lucrative business for sure.  Offer a KDX and when someone wins the bid, purchase a KDX and, like geko29 said that they just drop ship it to the winner.  Well, getting a K2 for $30 and have another $70 to bid on something else is not a bad deal.  I know it can be done, but I can see getting in trouble.


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## danfan (Apr 17, 2009)

Pyramids popped into my head too. Not that I think it is one, but the same concept of many people pay, few people gain.


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## DandyAndy (Nov 6, 2009)

Okay, I checked out this BidFire site.  I think there's something really fishy going on there.  I was particularly interested to see an auction for a $100.00 Amazon gift card.  The card eventually sold for $28.65 which meant that BidFire made $473.00 on the bids placed plus the $28.65 for the $100.00 card.  While I don't care that they make money, the thing that I found interesting was that one bidder (the winner) made over 400 bids for this item.  Okay, each bid cost one dollar.  That means that this person spent over $428.65 for a $100.00 gift card.  Either he/she is really stupid, or there some bid rigging going on.


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## JimC1946 (Aug 6, 2009)

I have a nice bridge in Brooklyn, New York I could make someone a heckuva deal on...


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## kevindorsey (Mar 4, 2009)

There are some legit sites where legit deals are made though, and some of them start at 0.  Not sure about this though, don't have any exper.


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## wildstallion (Dec 27, 2009)

bidfire.com
i watched a few kindle dx auctions each time it was obvious that inside bidders are both pumping the real bidders for all their cash and also that the inside bidders are also the "winners". They stay on as long as there are outside bidders bidding and then as soon as the real bidders finally give up and leave the last two insiders go back and forth a couple times and then one conveniently quits. I've seen it happen with each auction i've monitored. STAY AWAY! I would love to be able to find out if amazon ever gets any orders for the product from this site. I'll bet not. This is utter scam.


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