One of my friend after spending close to 2500/- brought to my notice about this website. Am a software professional with previous experience in bidding websites. I along with one of my colleague opened
an account in MagicBid and bought a pack of 20 bids that cost us 600/-. We were online for almost 8hours continuously. We were closely observing 2 electronic products :
The cost of a bid start from Rs 30 and goes low to Rs 15 if you wish to go for 7500/- pack of 500 bids. Case 1: MoserBaer 2GB MP3 Player MRP: Rs 1, 490, which you can get it for 1100/- from any electronics store. The MP3 player was auctioned for Rs 69. Considering the fact that there were 69 bids from different users, lets assume the average bid price to be 20/-, the company earned 69*20=1380 from the bidders. Case 2: Canon 10.1 MP PowerShot MRP: Rs 6, 295, which you can get it for 4990/- from eZone. The camera was sold for Rs 1650. Considering the fact that there were 1650 bids from different users, lets assume the average bid price to be 20/-, the company earned 1650*20=33000 from the bidders.
My friend was tracking the trend of the bidding, and I was tracking the bidders. I was observing almost 30 users. I observed that they have:--Fake bidders (both manual and automatic)--Different set of bidders, each set having 6 to 7 fake bidders.--Fake bidder bids on multiple products as the same time even if its the last 3 seconds for both the products which possible only if you have a automated system.--Fake bidders out bid each other to poke the real bidder to keep bidding. --At last if the fake user wins the race, no loss of product rather profit in terms of the bid money.--If at all a real user wins the company would have got 10times the market value of the product.
Just to see whether they track the online user I did not do any action on my browser for 15mins, and as I expected there popped a message saying "Are you still there". They track the online users and their bid in their bin. They try to exhaust the bids for the online users using the fake bidders. I saw one of the bidders had bid almost 400 times for the camera. Assuming that this fella has least bid price say 15/- he almost spent 400*15=6000. Over and top of it if he had won the auction he would have paid the 1600/- 250/-(shipping). Total : 7850 for a product that can be easily bought for less than 5000 from the market. Is this guy a real bidder??? A big time fake bidder.
Its a completely fraud organisation which shows testimonials of the winners without their contact details. I understand all the users would not be ready to reveal the identity but not even one has it. They should have made it optional for the users to choose to show identity or not.
Having Verisign Trusted does not mean they cannot have fake bidders and Certified E-Commerce Merchant does not mean they are shipping the products. When the bidder is fake whom will they send the product. Its a 8 month old website and has almost 6600 auctions done i.e almost 28 products everyday. AMAZINGLY FRAUD. Please pass on the message to your known one so that they do not fall into this pit. FRAUD FRAUD FRAUD FRAUD!!!
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