[Resolved]  Abcindya / Bid20.com — biggest fraudy start new fraud

Hi All,

Well, i wont say that Bid20 is a fake site, but suely the founders of the site have done some homework before starting the same.

Lets say a product worth 5000/- goes on auction. They place it at 38/-. Most of the time the product is sold at nothing less than 400/-. Each bid is 1/-. So, i[censored] calculate, the revenue for the company is (400-38)*20 = 362*20 or 7240/-. Whereas the product is just worth 5000/-. So the profit that they generate is 2240/- on one product. Nice business model i must say. A person who buys the bids and places bids doesnt realise the profit made by the firm coz he is only interested in getting a product for a cheap rate, which many people get. One would feel desprate or cheated when he is not able to win anything...and thats only HUMAN.

BIDDING is nothing but a GAMBLE. You dont win everytime.

Regards,

Arun

Absolutely fraud site. No genuine buyer can win any product. Just buy bid package, lose on bidding (as it looks very attractive to get a product at 90-95% discount) and in the end you will get nothing. I can only appreciate the promoters how easily they are fooling people. A simple formula they have adopted - for each bid they get approx. Rs.20/- and number of bids multiplied by Rs.20/-, in most cases, is more than the MRP of the product. I have learnt this by losing Rs.900/-, but thank God I have not purchased a large bid pack, otherwise I would have lost more than Rs.3000/-. However, if wealth is lost - nothing is lost, and this experience can help me to save money in future by not participating in such fraud auctions.

3 :

OWNER
WINNER
LOSER

I just came across this thread and found it hillarious... 70% of the people here categorize the website as Fraud, because they did not win or they have spent money on several bids and probably used it unstrategically.
I am also amazed at all the people who are totally concerned at Bid20.coms profit. Are you concerned about Microsofts Profits? McDonalds? Nope? Just because Bid20.com's Math is so transparent it doesnt make them any less of a company. Every company has a business model. The concept of this one is after you become a member, you can win products for 70-90% off.
Ofcourse the Bids has to be placed at Rs1 per bid... If it was Rs2 or Rs3, imagine this - Rs10k phone sold for Rs4000 with Rs1 per bid. That means 1000 bids right? Ok now imagine if each bid was Rs2 or Rs 5... the phone would have been sold for Rs8000 or Rs10000 meaning you save only 10-20% on the actual MRP... that doesnt sound like a great catch to me...

Regarding the 15 second increments, I believe thats what happens in a live Auction too. The host goes Once, Twice, Thrice... which gives time for other people to bid...

Gamblings is defined as investing money on something that is uncertain with intent of achieving more out of it... In that way Stock market is gambling... Companies investing on Employees is gambling... and so many other things... Bid20.com is an auction. If you carefully know how to play your chips, you can win.

I have spent almost around 10k on the site and still havent won anything, Purchasing bids was my decision, spending them was my decision, clicking on "Bid" was my decision. but that doesnt mean that the site is a scam.

On the negative sides -
I agree that the website has some issues. Once the timer went down to SOLD and the bidding still went on.
Another time, it was after around 7-8pm and I clearly clicked on "Bid" button, but the auction got sold to the previous buyer! It was like they closed the shop so they ended the auction... :D
Maintaining such a website is not childs play.

All being said, We are always FIRST in line and THE BEST at pointing fingers at others. Its becoming our culture... but please do not let it be our tradition.

Happy and Safe Bidding!

Just another Customer

We recommend to all our subscribers to get clear and detail knowledge of the system before buying bids.still if anybody has any doubts they can contact us at [protected]@bid20.com, we provide assistance within 1 working day
Enjoy Bidding,
Happy Bidding

i agreed about ur views, because i lost near about 8000/- i requst every body don, t wast ur money.they are totaly fraud, if they are not fraud they write down the winner addres and contect number.a single man cannot bid two items at a time. but in there sight a persons bids two or three items. a persons puchase a 500 bids, how can purchase 2 items. kindly aware to all by the emails about this sight.

Hi People

You can register all such complaints with http://www.core.nic.in. It’s a website run by Ministry of Consumer Affairs, Govt of India. It has been instrumental in resolving all my complaints so far. Hope they would help you guys too.

Jaago grahak Jaago...!!

The Owner should be flogged in public.

Dear All,

Why will any company/website sell any product @90% discount? Are they fool? No, they are making money thru selling the bids and sometimes a lucky winner gets the product (Most of the time its dummy user)

they r cheaters...
dont trust them ...

They are complete fraud.

They do not send any product even after winning.

This has happened to me.

BEAWARE of this SCAM

THANX A LOTT...u all helped me sumhow...

bid20.com is a total fake!!! Yesterday I was monitoring their site and I saw a PS3. The MRP was 19, 900. About 4 names were continuously flashing on the screen. The bid timer reached zero and the amount at that time was about Rs.300. As soon as it become zero a really strange id called 'googlebro' bid's at 0 secs and then the timer goes all the way to 15. This goes on and on till the cost reaches 1495 and then again googlebro bids and wins. This account is probably randomly generated and totally fake because their site mentions that at 0 secs the timer stops and the highest bidder wins.

BID20.COM IS SEEMS LIKE FAKE.. I REGISTERD.. AFTER REGISTRATIONI TRIED TO ..UNSUBSCRIBE. I DIDN'T FOUND ANY UNSUBSCRIBE OPTION ON WHOLE PORTAL. ., , .. THAT MEANS IT I SFAKE... DON'T EVEN TRY 2 BID ON THIS SITE. ..IT'S A GAME OF CHEETING..

Thanku guyzz @~!@!!!

I really thankfull to you all ...

i am going to purchase that bids but after reading this, i dicided not to invest money in this site ./...
i also feel now bid20.com is a totally froud site...

i suggest to invest in shares rather than these sites... :)

Thank you sooooooo much

This website is fraud .

See some of its terms

1. "We reserve the right to refuse service to anyone for any reason and to close his or her user accounts at any time."

that means they will decide when to say good bye to you. They can refuse to give you anything after taking all the payments...So even if you win, do not pay for the product otherwise you make yourself fool again.

2. "Bid20.com Reserves the Right to demand payment if customer has more than 5 unpaid items in their account or if the total amount of auctions won exceed Rs.50, 000/-. To avoid this situation please Pay on Time."

So after winning if you will not pay for the product then they can demand for the payment for the item which they are not going to send. If you do not do so, you are in trouble. LOL They have the right to ask for the payment without sending the product.



3. "Shill bidding is prohibited on the site. Shill bidding is the placing of bids or causing bids to be placed on any product for the purpose of artificially increasing or otherwise manipulating the bidding process on Bid20.com or the bid price of any product listed on the site, or influencing user behaviour on Bid20.com. A limit of daily spending limit can and will be enforced if we consider that someone has a tendency towards shill bidding or winning by intimidating other members, and we reserve the right to suspend the member without any prior notice. Other restrictions may apply."

Hmmm, Quite generous!! They are there not to make profit. They want to give everyone a chance to play, not to win the product.If you try to win, you will be shill bidder and product will not be offered... How was that??? Any way they have every right of not giving out the product lol.



4. "Bidders are restricted to win a maximum of 2 products in a week time. In case you win more than 2 products in a week, you will not be eligible to claim on third product. "

Hope the 2 product will be shipped to you.

Still hoping...???

So there is only lose lose situation at bid20.com

Such a big fraud, making fool of every body and govt is at sleep...

Hope I am able to clear some doubt of millions...

How was that... ???

Ritesh

please people dont put your money here it looks like you can win but it is all fake please save yourselves and all the people here thank you for saving my 8000rs as i was going to buy a bid package with it save yourselves and learn from others mistakes

narottam

REMEMBER IT IS BIDDING/GAMBLING YOU ARE HAPPY WHEN YOU WIN YOU COMPLAIN WHEN YOU LOOSE. IT IS A GAMBLING SITE. BE VERY MUCH AWARE WHEN YOU ARE BIDDING.

I agree with the comments given . I opted to bid hence put the amount for the same by bank transfer. without winnoing my my has been lost even i was not allowed to bid. how this has happened, i don't know. i sent an e-mail requesting abcindia for refund.they said no refund available either you win or not.
please beware of cheats. do not bid at bid20.com it is an request. thanks

MANISH: "REMEMBER IT IS BIDDING/GAMBLING YOU ARE HAPPY WHEN YOU WIN YOU COMPLAIN WHEN YOU LOOSE. IT IS A GAMBLING SITE. BE VERY MUCH AWARE WHEN YOU ARE BIDDING."


Hey they do not send product. So they are fraud. Gambling sites do send products but they do not send. Also their own people bid on the product so this is not fair gambling at all.