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 Post subject: online auction sites.
Unread postPosted: Thu Aug 25, 2011 10:22 am 
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Can anyone comment on the online auction site, ziinga.com, where one can purchase cameras and other electronic equipment on-line. One has to first deposit a certain amount of money via credit card, whereafter that money is used as credits to bid. When the clock runs out, one gets the purchase at the lowest price.

Does anyone know if this is a safe site, and whether everything is above board? They do show happy winners having saved large amounts of money, but has anyone on this forum used them with success?

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 Post subject: Re: Ziinga.com?
Unread postPosted: Thu Aug 25, 2011 10:28 am 
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They are scam artists if I do a quick search.
Best stay away from sites like that. If it sounds to good to be true, it usually is not good.

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 Post subject: Re: Ziinga.com?
Unread postPosted: Thu Aug 25, 2011 1:45 pm 
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Most of these online auction sites have automated bidders that will out-bid you on an ongoing basis. While I am not aware of any that are legit and above board, keep in mind that they, like all businesses are out to make profits and cannot afford to sell much stuff below their cost. I believe that there may be certain auctions on each site that do operate as a legitimate auction, being able to identify which are legit is only possible AFTER the auction has closed.... too late if the bids are costing you R5.00 or R10.00 each. Rather go to a licenced casino and use your winnings to pay retail price.... you will probably save yourself some heartache in the longer term AND have better luck in getting what you want.

Remember that these sites collect the closing bid amount from the successful bidder AND all the bid costs from all the unsuccessful ones out there, so a closing big of R4,000.00 for a retail item of say R10,000.00 may seem like a good buy for the winning bidder, but the business has possibly raked in R5 or R10 for each of the R1.00 incremental bids above the starting bid (R1.00 ??)...... ((4000 bids x R5.00) - (R5.00 per bid that the winner made, say 20 = R100) + (R4,000 final bid))..... they make R23,900.00 less cost (of R10,000) :think: R13,900 PROFIT while the buyer only pays R4,000..... nice for the buyer, but the rest (some additional R9,900) comes from the suckers willing to try their luck while funding these organisations..... :big_eyes:

Rather long winded response but my advice still stands.... stay away from them or suffer the disappointment and consequences....

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 Post subject: Re: Ziinga.com?
Unread postPosted: Thu Aug 25, 2011 5:37 pm 
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Thank you DuQues and Scottm for some excellent and sage advice. :clap: :clap:

DuQues, the links clearly show there are many other similar sites that seem to scam the unwary!

Scott, your explanations put everything in perspective - thanks for taking the time to explain. Ziinga increments at 10 cents a time, but I noticed that the auction increases time just before the time runs out - so, yes, automatic bidders are at work.

Summary: I'll certainly stay clear, and others are advised to do the same!

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TR: NECTAREAN NICETIES OF THE NORTH
TR: PRIMEVAL PLEASURE

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