This Entrepreneur Was a Genius!

By
Services for Real Estate Pros with Marte Cliff Copywriting

After noticing the ad on TV a few times, this morning I decided to see what www.beezid.com was all about.

You may have seen it - they shout about getting brand new merchandise for pennies on the dollar. I thought that sounded pretty unlikely. The old "if it's too good to be true, it probably isn't true." 

If you haven't been there to check it out yourself, here's what I found:

Yes, you really can buy things like $1,000 big screen TV sets for $40 - and $100 Target gift cards for $8.

BUT... the people who are behind that website are making a fortune to let you do so.

And another BUT...

If you get carried away, you might well spend more than the cost of the item you want, because each bid comes at a price, and unless you learn to be a very savvy bidder, you're going to "spend" a whole lot of bids.

Bids cost from 60 to 90 cents each, depending upon how many you buy in a package.

Each bid increases the price by one cent... So when an item is down to the wire and has several people bidding against each other, you could easily spend a hundred bucks - or perhaps much more.

For a while this morning I monitored the progress of a $1,049.99 big screen TV. It finally sold for $38.54, which means there had been 3,854 bids placed - most of them during about a 2 hour period. Meanwhile, even if all those bidders were "big players" who buy their bids in bulk, the company took in $2,312.40 to sell that thousand dollar TV.

I first looked at the site about 5 hours ago - and I noticed the user name of one of the bidders (because it had to do with fishing and my guys are all fishing nuts.)

He bid and bid on that TV but it eventually went to someone else. But when I looked a few minutes ago, there he is, bidding on something else.

I wonder what that guy (or girl?) has spent on beezid so far today?

I believe this site could become the latest gambling addiction...

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Rainmaker
421,547
Jean Hanley
Specializing in Folks Who Want To Buy/Sell Homes
Coldwell Banker Kivett Teeters

Oh wow, never heard of this site.  Sounds interesting.  I will most definitely check it out....without credit card in hand.  lol  It's amazing how so many po=eople can find ingenious ways to make a buck.

October 23, 2010 06:17 PM
Rainmaker
795,339
Marte Cliff
your real estate writer
Marte Cliff Copywriting

Jean - That was my idea too... without credit card in hand! It could be dangerous. However, after looking at the sale prices of some items and seeing what they "usually" go for, I think you could be successful if very, very patient.

October 23, 2010 06:34 PM
Rainmaker
589,728
Margaret Goss
Chicago's North Shore & Winnetka Real Estate
Baird & Warner Real Estate

I think I just lost $27!!  I should check back in in the morning - when I'm drinking coffee and not wine!

October 23, 2010 06:48 PM
Rainmaker
795,339
Marte Cliff
your real estate writer
Marte Cliff Copywriting

Margaret - Oh no! Did you buy a package of bids and use them all up already?

October 23, 2010 07:51 PM
Rainmaker
453,501
John Mulkey
Housing Guru
TheHousingGuru.com

Marte - I've seen the ads but wasn't sure how it worked.  Thanks for the primer.  Now I don't need to check it out.

October 23, 2010 08:30 PM
Rainmaker
536,368
Lynda Eisenmann
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co
Preferred Home Brokers

Hey Marte,

You know I've been wondering about these ads, I've only seen them a couple of times. So if I understand it correctly someone would spend $$$ just to be a bidder, whether they're successful or not, right? And you don't always know how much you're spending because it also depends on how many other bidders there are?

Sounds sort of crazy to me!

October 23, 2010 09:14 PM
Rainmaker
795,339
Marte Cliff
your real estate writer
Marte Cliff Copywriting

John - It's sort of hypnotizing to watch the bids come in...I'm still feeling amazed that someone smart thought of this. Gotta hand it to them.

Lynda - Yes, you pay 60-90 cents per bid. But, I guess if you're going to get a thousand dollar TV for $38 it might be worth it to spend $100 on bids. I think the trick is to wait to bid until the item gets close to the price things "usually" sell for. If you go up and click on categories you can see the closed bids.

October 23, 2010 09:36 PM
Rainmaker
161,050
Ryan Case
877-828-0710
SCA Real Estate

So that is how those companies can sell those things for $30!! I always wondered how it worked.

October 25, 2010 01:10 AM
Rainmaker
795,339
Marte Cliff
your real estate writer
Marte Cliff Copywriting

Tom - It was a mastermind plan. After reading through a few pages of their sold merchandise, I saw only one or two items that they lost money on. On the rest they doubled or tripled their money.

October 25, 2010 01:28 AM
Rainmaker
49,121
Mary Anne S. Daly
Queen of the Loan & Radio Personality
O'Donnell Financial Group, NMLS #232164 CA BRE #01380812

I heard about this kind of site and I think you hit the nail on the head when you said "gambling addiction". 

 

October 25, 2010 06:05 PM
Rainmaker
795,339
Marte Cliff
your real estate writer
Marte Cliff Copywriting

Mary Anne - Yes, I know a few people who should NOT know about this site!

October 25, 2010 07:26 PM
Anonymous #12
Anonymous
Anonymous

"But when I looked a few minutes ago, there he is, bidding on something else."

That made me laugh out loud!

Thanks Marte! (feature!, feature!)

October 27, 2010 01:25 AM
Rainmaker
795,339
Marte Cliff
your real estate writer
Marte Cliff Copywriting

Hi Alex - Glad to give you a laugh! I really was amazed at that person. I haven't gone back there to observe again in the last couple of days, but I wonder if he (or she) is still there clicking those dollars away.

October 27, 2010 01:52 AM
Anonymous #14
Anonymous
Anonymous

I have to give you an update.  Last night I hopped on the beezid site to take a look.  I watched for an hour.  I was mesmerized!  The same people kept bidding and bidding and bidding.  True entertainment.  Thanks for sharing!

October 28, 2010 01:12 AM
Ambassador
501,044
Pat Haddad
Carmel IN Real Estate Expert
Keller Williams Indianapolis Metro NE

Marte--Sounds almost like playing the lottery---and probably about as financially rewarding.  Thanks for the overview.  I think I will be passing on this.

October 28, 2010 02:08 AM
Rainmaker
795,339
Marte Cliff
your real estate writer
Marte Cliff Copywriting

Alex - that was my experience too. I kept thinking "How much are they spending!?" It's almost hypnotic, watching those numbers and names flash by.

Pat - Yes, playing the lottery, or perhaps shoving quarters into a slot machine.

October 28, 2010 02:40 AM
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Rainmaker
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