Skeleton Jelly 2 Posted May 24, 2011 Share Posted May 24, 2011 And if they don't, smart money says the websites have ringers out there making sure it happens.Ok, that would make it a scam then, right? Like what?!How did you not know this?? Link to post Share on other sites
speedz99 145 Posted May 25, 2011 Share Posted May 25, 2011 Ok, that would make it a scam then, right?Well yeah.How did you not know this??I don't know! Link to post Share on other sites
dna4ever 2 Posted May 25, 2011 Share Posted May 25, 2011 I've been drinking a little bit and have found this to be fairly entertaining. Just watching the main webpage and watching the live bids happen. There is a big 55" TV that was at 20 bids and keeps getting down to like 2 seconds only to have like 3 or 4 instant bids. I keep watching this over and over and I'm not bored yet, weird. Link to post Share on other sites
dna4ever 2 Posted May 25, 2011 Share Posted May 25, 2011 The $15 gift card that is up to 47 bids right now is pretty sweet. Link to post Share on other sites
dna4ever 2 Posted May 25, 2011 Share Posted May 25, 2011 The $15 gift card that is up to 47 bids right now is pretty sweet.SOLD! Link to post Share on other sites
dna4ever 2 Posted May 25, 2011 Share Posted May 25, 2011 ive watched this one dude (mfmcaleer) place no less than 30 bids already ....624 bids and going strong for a $200 mini notebook. Link to post Share on other sites
hblask 1 Posted May 25, 2011 Share Posted May 25, 2011 A variation of this is an old psychology experiment, where you have to pay your highest bid, whether you win or not.So you bid 5 cents, you owe 5 cents, even if you lose the auction. If you later bid 7 cents, you don't owe 12 cents, just your highest bid (7 cents).Once you make your first bid, there is no logical stopping point, because you'll only owe 2 cents more for your next bid, and if you don't, you lose the $30 you bid on that new car -- so it's $30 for nothing, or $30.02 for possibly something. The two additional cents is irrelevant compared to the $30. Next thing you know, it's $500, then $5000, and you are screwed, because $5000 for nothing or $5000.02 for a shot is a no brainer. And it just gets worse as the bids zoom past the value of the item.The only way to win is to not play.But I bet enough stupid people would do it.I don't think there are any sites like this.... but Scram has got a domain, so I expect to see it soon.EDIT: This probably wouldn't work well for low priced items like the gift cards, but would be the scam of the century for, say, a Lexus SUV. People wouldn't be able to resist stealing it for hundreds but would suddenly be in over their head. Link to post Share on other sites
dna4ever 2 Posted May 25, 2011 Share Posted May 25, 2011 Easily up to 80+ bids so far .....I'm tired of copying and pasting, but no way I'm going to bed until I see the result Link to post Share on other sites
dna4ever 2 Posted May 25, 2011 Share Posted May 25, 2011 here is another one that has my attention"5024 bids (ie $3014.40) for a MSRP $2000 item Link to post Share on other sites
dna4ever 2 Posted May 25, 2011 Share Posted May 25, 2011 our laptop boy is still going strong ... Link to post Share on other sites
hblask 1 Posted May 25, 2011 Share Posted May 25, 2011 Do you think if you someone could write a program that could read those numbers, you could come up with some statistics on an optimal bidding strategy? Or do you think it is too fractal for that? I'm guessing the site has an algorithm for when to put things on there based on historical and real time data. I just saw a Target gift card go for one cent -- and two more popped up instantly. They know their audience. But you don't have to beat the site, just the other bidders. Link to post Share on other sites
Spademan 94 Posted May 25, 2011 Share Posted May 25, 2011 I own a really good auction domain name.That is all.Having the rules up on the site makes this JUST on this side of moral for me.I would help run such a site, Scram.I am not kidding. Link to post Share on other sites
dna4ever 2 Posted May 25, 2011 Share Posted May 25, 2011 Do you think if you someone could write a program that could read those numbers, you could come up with some statistics on an optimal bidding strategy? Or do you think it is too fractal for that? I'm guessing the site has an algorithm for when to put things on there based on historical and real time data. I just saw a Target gift card go for one cent -- and two more popped up instantly. They know their audience. But you don't have to beat the site, just the other bidders.Only thing I know is this guy has already spent more on bids then what he could have bought this laptop for on amazonWatch the madness live .... http://www.quibids.com/auctions/884130187-...-101-Netbook-PCi just noticed when the auction ends it shows how many bids the winner made. I REALLLY hope this guy wins so we can see how many bids he made on this thing. Link to post Share on other sites
dna4ever 2 Posted May 25, 2011 Share Posted May 25, 2011 damn, i think our dude gave up about the $12.70 mark, haven't seen him bid last 20 or so Link to post Share on other sites
dna4ever 2 Posted May 25, 2011 Share Posted May 25, 2011 the dude that won bid 54 times, not counting the dude I was following that easily had 100 -150.1374 x .60 = $824.40, sigh. I totally wish I had thought of this.noticed this auction doesnt show up on the 'sold' main page area, only the 1 and 2 cent successes appear there.reality is, the dude that won got a damn good deal, paid about $45 for a new laptop Link to post Share on other sites
brvheart 1,752 Posted May 25, 2011 Author Share Posted May 25, 2011 Yes, people are stupid and part of Quibids success is due to that stupidity. But that's not what the link is suggesting. Bazerman would do this experiment in the Harvard Business classes he taught. I don't think most students at Harvard are retarded.I didn't realize it was a Harvard class. That makes it way better.Also: DNA... if you don't win the auction, Quibids allows you to click the "Buy Now" button and all of your bids on that item reduce the cost of the item. So if he bid 100 times, he could click buy now, and then pay retail price minus $60. Link to post Share on other sites
dna4ever 2 Posted May 25, 2011 Share Posted May 25, 2011 Also: DNA... if you don't win the auction, Quibids allows you to click the "Buy Now" button and all of your bids on that item reduce the cost of the item. So if he bid 100 times, he could click buy now, and then pay retail price minus $60.pretty safe to say nearly no one does this unless they have just gotten so carried away they have had so many bids?the people that bid 100 times on a $2100 TV are not going to spend the other $2040 to buy it, they just lose that $60. Take that times how many thousands of people every day?that tv i put up earlier is up to $61.75 and still going .... http://www.quibids.com/auctions/106979785-...Hz-HDTV-with-3D Link to post Share on other sites
brvheart 1,752 Posted May 25, 2011 Author Share Posted May 25, 2011 pretty safe to say nearly no one does this unless they have just gotten so carried away they have had so many bids?the people that bid 100 times on a $2100 TV are not going to spend the other $2040 to buy it, they just lose that $60. Take that times how many thousands of people every day?that tv i put up earlier is up to $61.75 and still going .... http://www.quibids.com/auctions/106979785-...Hz-HDTV-with-3D Oh, I'm well aware. I'm just saying that if you REALLLY want an item, you know for absolute certain that you can: 1) Buy it from them. And it will be brand new in the original packaging. 2) The most you will pay is the list price 3) You have an excellent chance to win the item at a much lower cost than retail. 4) Worst case scenario... retail price.Ps. That TV will probably end at around $100. MacBook Pro's usually end at about $150. Link to post Share on other sites
XXEddie 0 Posted May 25, 2011 Share Posted May 25, 2011 This is realllllllly entertaining to watch. Link to post Share on other sites
XXEddie 0 Posted May 25, 2011 Share Posted May 25, 2011 brvheart, do you know if you can combine the charge from multiple auctions to buy an item? Meaning...I want a MacBook. Values at $1500. I try 4 auctions making 55, 83, 33 and 92 bids total but never winning. 55+83+33+92 = 263263 x $.60 = $157. Can I then still buy a MacBook for $1343? Link to post Share on other sites
NellaKreb 0 Posted May 25, 2011 Share Posted May 25, 2011 Diamond earrings just went for $0.11My new favorite PC show. Link to post Share on other sites
brvheart 1,752 Posted May 25, 2011 Author Share Posted May 25, 2011 brvheart, do you know if you can combine the charge from multiple auctions to buy an item? Meaning...I want a MacBook. Values at $1500. I try 4 auctions making 55, 83, 33 and 92 bids total but never winning. 55+83+33+92 = 263263 x $.60 = $157. Can I then still buy a MacBook for $1343?No. It's just the bids you placed on that particular auction. (At least from what I understand. I haven't used the "Buy Now" button, so I'm not totally sure without reading a bunch of fine print. It just doesn't make sense that they would let you do that.) Link to post Share on other sites
coug2828 8 Posted May 25, 2011 Share Posted May 25, 2011 Of course, that'll mean you have to be up at 4:30 in the morning just to save a few bucks on crappy little items. I'm sure the big things always get jacked up. And if they don't, smart money says the websites have ringers out there making sure it happens. this is the scam Link to post Share on other sites
NellaKreb 0 Posted May 25, 2011 Share Posted May 25, 2011 I saw "pokerman1" had a 3 cent bid on diamond earrings before the vultures swooped in with 10 seconds left and kicked the bidding up to the Sold bid of 50 cents. Is pokerman1 someone here? If it is, GL in your future bids. And GL to anyone else here making bids. Link to post Share on other sites
NellaKreb 0 Posted May 25, 2011 Share Posted May 25, 2011 this is the scamYeah. It seems like what happens is that every now and then, they let a high priced item go for super cheap (for promotional uses) and then put the ringers in for the next few auctions. But that's from the little I've seen there and heard here.If you could find the cycle frequency of how often whatever you're interested in goes for pennies on the dollar, you can beat their system (barring stubborn bidders).I'd think that would be a good place to start for any 'exploitation' algorithms, for all the math guys out there. Link to post Share on other sites
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