- YEC Member Spotlight: Thomas Kjeldgaard, CEO and Founder, SplashPost Young Entrepreneur Council
Should I buy electronics from online bidding websites?
Trying to start buying some gifts for the holidays. Some online auction sites seem too good to be true with some prices. Are most of these sites legit??7 months ago - 2 answers
Most sites use robots, so you're bidding against robots. if you think about it logically if you can get an ipad for £10 why isnt everyone doing it? Your best bet is sites such as ebay with good reputation and resoultion center7 months ago
You pay to bid, that is the issue.
You can "buy" items for significanly less than they are worth, but you need to outbid (timewise, not moneywise) other people. In this case, it is VERY hard to win those battles. You pay per bid, so each time you make an offer, you are paying a fee there.
They make their money on the fees, not the sale of the item; what does this tell you about their business?