If the mods could just leave this up for a night it can be good info for anyone thinking about bidding on these penny gun auctions
.Even though I knew bid runner probably was a scam, I had to try it out for myself. So I invested a hundred bucks and gave it a go. I sat all last night and a few hours today and bid on 6 or 7 auctions. I only use the manual bid placement, not the bidbutler, "the automated one that you have to outbid every bid that appears", as that is just throwing money down the well.
I don't know if you know that I was a Trader of equity’s and options for 15 years. So I know how to time a mouse click. I did it a thousand times a day.
My experience is as follows. Bidding manually, you will get outbid by the automated system every time. This confirms what I knew going in, they don't want some guy waiting until they "usually 2 or 3 of the same people" bid it up, and you come in and steal it. It goes to the guy or "whoever" is bidding every bid from zero to whatever, ten twenty, a hundred, dollars. Which makes no sense to bid 200 bids at seventy five cents a bid to win something that you can buy for 250 dollars. Like 1000 rounds of 9mm ammo. Why would you bid ten dollars, when each dollar is 100 bids and each bit is rounded off to 70 cents, so a dollar is 70 bucks, times ten, is 700 dollars for 250 dollars’ worth of ammo. You wouldn't. so I had to prove it to myself, lesson learned, save your money, buy your wife some flowers. It just isn't worth the time and money. This is just my opinion, and I had been forewarned, but I wanted t see for myself.
I can't say it's fixed, all I can say is if a guy who used to make a living trading stocks and sometimes holding three or four open positions at once, "with real money" on the table, can't time it, then the average guy is going to be out gunned every time. The arithmetic just doesn’t work either. The same two or three people are bidding up like mad, and suddenly just stop, investing maybe 500 bids, and some other person wins it, and it tells you , "your bid can't be taken", Or some such nonsense, I wrote them a note saying basically the same thing that I said here. I doubt anything will come of it, I can't prove anything it's all my opinion.
.Even though I knew bid runner probably was a scam, I had to try it out for myself. So I invested a hundred bucks and gave it a go. I sat all last night and a few hours today and bid on 6 or 7 auctions. I only use the manual bid placement, not the bidbutler, "the automated one that you have to outbid every bid that appears", as that is just throwing money down the well.
I don't know if you know that I was a Trader of equity’s and options for 15 years. So I know how to time a mouse click. I did it a thousand times a day.
My experience is as follows. Bidding manually, you will get outbid by the automated system every time. This confirms what I knew going in, they don't want some guy waiting until they "usually 2 or 3 of the same people" bid it up, and you come in and steal it. It goes to the guy or "whoever" is bidding every bid from zero to whatever, ten twenty, a hundred, dollars. Which makes no sense to bid 200 bids at seventy five cents a bid to win something that you can buy for 250 dollars. Like 1000 rounds of 9mm ammo. Why would you bid ten dollars, when each dollar is 100 bids and each bit is rounded off to 70 cents, so a dollar is 70 bucks, times ten, is 700 dollars for 250 dollars’ worth of ammo. You wouldn't. so I had to prove it to myself, lesson learned, save your money, buy your wife some flowers. It just isn't worth the time and money. This is just my opinion, and I had been forewarned, but I wanted t see for myself.
I can't say it's fixed, all I can say is if a guy who used to make a living trading stocks and sometimes holding three or four open positions at once, "with real money" on the table, can't time it, then the average guy is going to be out gunned every time. The arithmetic just doesn’t work either. The same two or three people are bidding up like mad, and suddenly just stop, investing maybe 500 bids, and some other person wins it, and it tells you , "your bid can't be taken", Or some such nonsense, I wrote them a note saying basically the same thing that I said here. I doubt anything will come of it, I can't prove anything it's all my opinion.
