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  #1  
Old 04-05-2012, 4:39 AM
dwilliams222003 dwilliams222003 is offline
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Default What say you????

Just got this in an email from buds. What's your thoughts??

http://Bidgunner.com/
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  #2  
Old 04-05-2012, 5:18 AM
efillc efillc is offline
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http://www.ftc.gov/bcp/edu/pubs/cons...ts/alt041.shtm
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  #3  
Old 04-05-2012, 6:12 AM
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t0kie t0kie is offline
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Never heard about it & I think it's kind of complicated. Got to buy to bid?

Personally, I'll stay away from it.
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  #4  
Old 04-05-2012, 7:40 AM
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kemasa kemasa is offline
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It is a scam, but a nice deal for the seller. I guess the saying about a sucker being born every minute is true. Only if you can place one last bid would it make sense, but that is not going to typically work.

Why does it not surprise me who sent it to you?

I have to wonder what the sales tax issue would be. If you pay $200 to "win" to buy it for $50, do you pay sales tax on the value of the item, the $50 or the $250? That might be a nice reason to refuse shipments from them.

Interesting location for the business. It seems to be on an airport. The company name on the FFL appears to be an aerial photography company.
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Last edited by kemasa; 04-05-2012 at 7:52 AM..
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  #5  
Old 06-01-2012, 8:24 AM
jmpgfoto jmpgfoto is offline
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Exclamation IT PROBABLY WORKS IF YOU KNOW WHAT YOU ARE DOING!

This seems to be a scam but after reading everything and watching their YouTube video I think I understand how it works. Before you dump on it watch the video and read their info.

Looks like a sweet deal for Bud's the suppliers/operators of Bidgunner. You might score a good deal but you need to be careful and not overbid. The biggest problem I see here is that on anything really desirable like a S&W 500 revolver you are going to have lots of other bidders. Since everyone has to BUY BIDS a lot of money is going to be spent which is good for Bud's. Say you buy $300 in bids but you lose the auction you have just lost $300 unless you apply that to purchasing the gun outright at Bud's retail price. So, many people are going to lose their purchased bids since only one wins the gun. I would guess there will be a lot of unhappy bidders when the auction closes. For Bud's it's a no lose situation. They sell the bids, big items like this will have lots of bids so Bud's is going to profit and more bidding losers will probably buy the gun outright after the auction to avoid losing their purchased bids. If you decided to bid note there are some little catches. The auctions don't have a finite end. Bids placed near the end of the auction will extend the ending time of the auction! Also, some auctions have a RESERVE and if that is not met you don't win. The big thing in all of this is you are buying the opportunity to make a bid paying at least $0.65 (or more) for each bid and if you don't win you lose that amount times however many bids you place so you better be very careful with those bids and you probably want to wait until the auction is almost finished before bidding.
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  #6  
Old 06-01-2012, 9:21 AM
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kemasa kemasa is offline
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It is a scam since most people don't realize what it is really going to cost them. While you can "buy" the item for a low price, you have to buy all the bids in advance and each bid increases the amount by $0.01, so it is really 65 or more times that amount that it is being sold for.

One aspect that you also need to consider is sales tax, especially since the BOE considers ALL money received by ALL bidders to be the amount to determine the sales tax. Since I doubt that bidgunner.com would release the actual amount paid to them in bids (if they could even calculate it), a CA FFL would have to calculate it based on the highest amount that it could have been paid so as to not have any legal issues with the BOE, so the sales tax would be based on around 85 times the selling price (highest cost of a bid). Due to this issue I would not be willing to receive any firearm from bidgunner.com.

Where do you see that you can credit your bids to buying the firearm?

Quote:
Bid Packs expire after six (6) months.
Quote:
All bids have no cash value.
Quote:
In all cases, end users ("You") expressely waive all rights to litigate against, recover damages from, or recoup the value of bids purchased and/or placed in auctions. In such a case where Bidgunner.com ultimately ceases operations either voluntarily or due to any other circumstance, including those whereupon such cessation of operations is due to regulatory or legal action against Bidgunner.com, You the end user, accept the risk that any and all purchased bid value will be lost and waive all rights for recovery.
Yeah, it is a scam.
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Last edited by kemasa; 06-01-2012 at 9:31 AM..
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  #7  
Old 06-01-2012, 2:41 PM
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AOIguns AOIguns is offline
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Quote:
Originally Posted by kemasa View Post
It is a scam since most people don't realize what it is really going to cost them.
I disagree with you and you proved it right there in your statement. Just because people don't understand doesn't mean it's a scam. The lease on my building has parts I don't understand, but that doesn't make it a scam if I get evicted after not paying rent for a couple months. Sure, apples to oranges, but you get the idea. They just have to realize what their cost per bid is and add that into the cost of what they're bidding on. It's simple math really. Could you get a great deal? Sure, if you don't end up in a bidding war. Is it a scam? No. Is it a good deal? That remains to be seen. Buds is a very large reputable dealer, and if this truly is their creation I don't see it being a scam at all. This obviously isn't their idea as there are many of these sites around. Just not sure I would put my personal money into it.
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  #8  
Old 06-01-2012, 3:00 PM
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kemasa kemasa is offline
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Perhaps you should look into how Bud's got their name and then reflect on what it says about them. I heard about a lawsuit against them for stealing the name of a place 15 miles away.

Not a scam? Then read this hype about how great they are:

http://www.pennyauctionsreview.org/

Penny auctions sites are NOT about selling the items, it is about selling the bids, which makes it a scam.

See also:

http://www.aarp.org/money/scams-frau...r-ripoffs.html

http://www.ftc.gov/bcp/edu/pubs/cons...ts/alt041.shtm

Do some investigation and see what you find.
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  #9  
Old 06-01-2012, 3:02 PM
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Baconator Baconator is offline
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meh. I won some stuff from one of those penny auctions. Even with paying for each bid I still came out ahead.
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