Beezid.com - Scam Or Legit?

“Can I really win expensive items for pennies at Beezid? Or is this whole thing a scam?” Perhaps you’re here because you just learned about penny auction sites and learned about Beezid.com. If that’s the case, you’ve come to the right place. I have used more penny auction sites than I care to count; got burned; and won a ton of stuff. Let’s take a look.

So Is Beezid A Scam?

To answer that question, NO – this penny auction site is not a scam. Along with other big players in the industry, this site is 100% legit. Matter of fact, if you check Wikipedia’s page dedicated on penny auctions (http://en.wikipedia.org/wiki/Bidding_fee_auction), Beezid is listed. Moreover, you can check the site’s domain. You can do that by going to http://www.whois.com/whois.

You see, scammers (penny auction site or not) are very careful about domain registrations. They always hide the registrant’s details. Also, a scam site won’t last for more than a few months – maybe a year at most. People will report the site and it’s only a matter of time before the hosting provider closes the site.

The good news is Beezid is clear of such tell-tale signs: The site’s whois discloses the registrant’s details and the site has been registered and running for years now. Here’s a cool tip: To avoid getting scammed in penny auctions, stick with the big boys – sites that have a proven track record.

How Beezid (And Other Penny Auction Sites) Work

To give you an idea of how penny auction sites work, let’s just say they’re in the business of selling bids instead of selling products. Here’s how it work from the bidder’s perspective:

•    Beezid auctioned a $500-iPad starting at $0.00. To bid on the auctioned item, you need buy bids from the house. For a pack of a hundred bids at $0.50 each, you paid $50. Everytime a bid is placed, the iPad’s price goes up by a cent.

•    Typically, an auction has a lifespan of 10, 15, or 20 seconds. However, everytime a bid is placed, the timer is reset. The last bidder wins the item. Now, let’s say you’re the last bidder – you placed a total of 20 bids and the price ended at $14.00.

•    This means the total number of bids ended at 1400 ($14/$0.01) – the house just made $700 from the auction and this translates to $200 in profit. You, the winning bidder, get to iPad for only $14 – a 97% reduction in price!

3 Reasons Why I LOVE Beezid

•    First, it’s not overpopulated unlike other sites. This translates to less competition and greater chances of winning.

•    The roster of products on auction is virtually endless. And unlike other auction sites that auction $10 Amazon gift cards, Beezid offers expensive products and gadgets.

•    You have the option to buy the item at the retail price if you lose the auction. Moreover, the money you spent on bids will be refunded or deducted from the retail price, which means you don’t lose anything at all. Just keep in mind that this isn’t available at all auctions.

Winning On Beezid: 

Here’s a valuable resource you MUST check out: www.ipennyauctions.com. Owned by a penny auctions expert, you will find numerous solid and winning strategies here. He’s so good at this stuff that he was banned by an penny auction site for winning way too much! Follow his strategies to the “T” and you’ll be surprised at how you can easily dominate penny auction sites like Beezid!