Anybody try the Guns 4 Pennies auction site?
Once you read a realize how their auction system works its not worth even messing with. You have to buy bids, so every time you place a bid it cost money, Then when it gets down to the end the final bid has to stand for an hour before the last bidder is the winner. Then you get to buy the gun for whatever your winning bid price is. So at first it seems like a good deal until you factor in how much money you spent just on bidding on the gun to be able to buy it
I can't link to the Google feature, but you can always go to Google and type in "guns 4 pennies"
Sounds like another one of those auction scam sites. If you've seen the Quibids commercials you know the basics behind it. You buy bids and then you're allowed to bid on a gun. If you win, you pay the final bid price for the gun. So you and 200 other people all bid, at $0.10 a bid, and the final price is $100. At $0.01 increments per bid, the total amount of bids is 10,000, and at a cost of $0.10 per bid the total spent on just the bidding by all bidders combined is $1000. It looks promising based on their past auctions only reaching $30-40 but once word gets out people will flock to it. Of course being guns you stand a better chance of winning due to the exclusive nature and fear-mongers (i.e. the gov't is watching, can't bid online folks).
Correction, I just registered to see what the bid cost is, they average $1 a bid unless you buy high packages of bids. 30 bids $29, 50 for $45, 100 for $80, 200 for $150, 500 for $350, and 1000 for $680. So the lowest you'll run is $0.68 per bid which means that Guns4Pennies rakes in almost $8000 if the bidding gets to $100.
Correction, I just registered to see what the bid cost is, they average $1 a bid unless you buy high packages of bids. 30 bids $29, 50 for $45, 100 for $80, 200 for $150, 500 for $350, and 1000 for $680. So the lowest you'll run is $0.68 per bid which means that Guns4Pennies rakes in almost $8000 if the bidding gets to $100.
....and.....looks like they don't even own the merchandise. They simply handle the "sale". They have got to be giving the person with the goods something.....why else would a business list a gun with them that might "sell" for a dollar. (100 bids at a penny each)
When I have time I am going to dig a little and see if I can get an idea of the average number of bids on an item. Course it will be different if the gun is an old RG revlover vs a Kimber 1911. If there are only five bids on an item....no big deal. If there are thousand bids.....big deal.
Sounds a bit like gambling to me. You're raising your stake in the game a buck and a penny everytime you bid. I see your bid and raise you a bid.
Now if a feller could figure out how to bid only one time at the end.
The killer is that the auction timer restarts with each bid.......and.......the time amount it resets is different for each auction. May be 5 seconds.....may be 5 days.
When I have time I am going to dig a little and see if I can get an idea of the average number of bids on an item. Course it will be different if the gun is an old RG revlover vs a Kimber 1911. If there are only five bids on an item....no big deal. If there are thousand bids.....big deal.
Sounds a bit like gambling to me. You're raising your stake in the game a buck and a penny everytime you bid. I see your bid and raise you a bid.
Now if a feller could figure out how to bid only one time at the end.
The killer is that the auction timer restarts with each bid.......and.......the time amount it resets is different for each auction. May be 5 seconds.....may be 5 days.
Like I said in my previous post, this is a more exclusive bidding site that Ebay due to who is willing to bid online for a gun. I know there are people here who don't even want to fill in a 4473 and alot of gun owners prefer local sales. It may be a worthwhile investment if you have extra money and wait for the right gun to come along but for me and the majority of people this is a rip-off. At least with the 5 second add on you don't run the risk of someone with a better connecting taking the last bid at the end (like Ebay).
When there are plenty of other gun auction sites and local sites (like Armslist) why bother with PAYING to place what may be a losing bid?
Sounds like a scam. The only 'winner' is the auction house.
Sounds like a scam. The only 'winner' is the auction house.
That's what I'm thinkin. Hell, there are plenty of great deals in our classifieds alone.
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