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The Water Cooler
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gun auction website
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<blockquote data-quote="Buddhaman" data-source="post: 1567895" data-attributes="member: 12404"><p>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).</p><p></p><p>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.</p></blockquote><p></p>
[QUOTE="Buddhaman, post: 1567895, member: 12404"] 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. [/QUOTE]
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