beezidBeezid is a Penny Auction Site, which means they have things like Kindles, DSLRS, TVs, Computers, and the like that sell for a few cents to a few dollars. The catch? You will spend a lot more than a few dollars to win them. Beezid is a fun site and in the past few days I have won three items and one Bid Pack. I won some cologne, a set of meat thermometers, and a wireless keyboard. The easy wins are for items no one wants.

Beezid is like Storage Wars in that no one wants to let you win, they want to make you pay as much as possible in time, bids, and actual cost.  Winning means staying in the game until everyone else stops bidding.  And there is ALWAYS someone else bidding.  Or so it seems to me anyway.

Buying Bids can be expensive, 50 Bids from the Beezid store cost $30 and 2000 Bids cost $1000. Of course, no one buys Bids there, they are constantly for sale in the regular Auction pages and I got my first 200 Bids for 5 cents. The competition for Bid Packs can be intense and flat out nuts. I watched one Auction for 50 Bids were the two people bidding on the Bids each spent over a 100 Bids.

And this seems to be one of the keys to winning on Beezid, be willing to have a Pyrrhic victory on every Auction.  The other key seems to be blind luck and good timing.

Since Bids cost random amounts of money, the actual sales prices of the items are hard to know. If the final price was $5.00, for example, then the bidders in that auction spent 500 bids to get it to that price. That would be $50 to Beezid if the Bids cost 10 cents each, which, of course, they seldom do. By the same math, the person who won the $5 auction could have spent anywhere from a few cents to $25 in Bids, making that item with a $19.95 compared at price not such a great deal after all. Then there is the added complication of many Auctions have multiple Bids per click instead of one bid for click. Auctions with 15 Bids a click are like Dollar Slots, you need deep pockets to play those machines.

Which brings me to the real feel of Beezid – a casino. The odds are stacked against you, but you see people win all the time. So those TVs are going for $2?  Hey, I could use one of those. And there are a lot of things that sells for pennies.

Damned if I know how to win them though.

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