www.designer-bid.com

StripedBoxers

Hey folks,

Has anyone here used https://www.designer-bid.com ?

I've heard a few bloggers talking about it, had a look and to me it seems too good to be true, so I'm thinking it is?

They sold an apparently real Michael Kors bag for €5? They have iPhones etc.

https://www.designer-bid.com/Auctions/Closed-Auctions

https://www.designer-bid.com/Auctions/Detail/14628172901921

This YSL one for €16

https://www.designer-bid.com/Auctions/Detail/14633232741511

This Christian Louboutin bag for €14

https://www.designer-bid.com/Auctions/Detail/14626196836491

This Chanel for €29

https://www.designer-bid.com/Auctions/Detail/14622051028781

This iPhone 6s for €23

https://www.designer-bid.com/Auctions/Detail/14617438720241

I've only heard bloggers talking about this, so I am suspicious. I think it was James Patrice who launched this website ages ago or maybe I gone completely mad.

Surely these items aren't genuine?

idunno78

I think there real items alright. I saw him on a out it alright a few weeks ago. From
What I can make out you buy bids then you use them to bid on the item you want!! But you don't get them back if you don't get item! Then if you win item, you have to pay that amount as well! If that makes sence? I'm crap at explaining! That's what I understood from the terms and conditions of website! So you think your gettin its at one price but you have actually paid on the double for it! I wouldn't bother with it personally!!

StripedBoxers

idunno78 wrote: »

I think there real items alright. I saw him on a out it alright a few weeks ago. From
What I can make out you buy bids then you use them to bid on the item you want!! But you don't get them back if you don't get item! Then if you win item, you have to pay that amount as well! If that makes sence? I'm crap at explaining! That's what I understood from the terms and conditions of website! So you think your gettin its at one price but you have actually paid on the double for it! I wouldn't bother with it personally!!

I understand what you mean, but when you say you pay double do you mean you pay for bids plus the winning total or double the item price?

For example: €60 for bids plus €30 for the phone so €90 in total

or

An iPhone is €760 so double that is €1,520

Would you pay €90 or €1,520?

How can they afford to have them so cheap?

I found this page here with a list of designer stuff, a classic Chanel bag, a YSL, Chloé, a Céline, they are worth thousands and all auctioned for less than €100? That seems unbelievable to me. How could a business stay in business and make money when they spend that money on bags and auction them off for next to nothing compared to the price in BTs etc.

https://www.designer-bid.com/our-blog/Post-Detail/Getting-Ready-for-our-Launch

It seems too good to be true I think.

Graham

StripedBoxers wrote: »

How can they afford to have them so cheap?

They sell bids.

You get 500 people, submitting say 20 bids at 60c per bid. Auction company gets €6000, 1 person has a winning bid so gets the product for a few euro.

They don't make money off selling the products, they make money off selling the bids.

You spend a pile of money for bids until you finally realise your chances of actually buying anything are almost non-existent.

idunno78

I meant like you pay for bids and then you pay for the item if you win! Graham explained it well there!

idunno78

I had a look earlier on. It's 25€ for 15 bids... That's the lowest amount. Then each bid is 1c. The last 15 seconds of auction if someone bids it goes back to 15 seconds until bidding stops..

Graham

It might be easier to think of it as a raffle rather than an auction.

The last person to buy a ticket (bid) wins the right to buy the prize at a discounted price. The discounted price goes up 1c for every ticket sold.

Pay-to-bid auctions have been described as a type of gambling many times in the past.