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[Resolved]  www.bid20.com — Is this website legal?

Dear Sir,

I cam across a company which is selling products through online Auction. It is selling products at 80% discount to their retail price.

By doing some simple math i came to know that the company is making profits around 16times on each of the product it is selling. Doesn't this online auction falls under gambling? Is it legal? Please look into this.
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Complaint marked as Resolved Aug 14, 2020
Complaint comments  63 CommentsShareTweet

Comments

Yes, this is pure gambling. I don't think online gambling is legal in india.
Bro Its completely legal. I have got two products at 90% saving. There is no fraud any in this. You can contact their help line via e-mail they will clear you all.

Hope you will also be benefited with this site. You can also see the site like this a ebay.in etc. Its like this type of site.
am not sure abt weather it is legal or not, and yes it is pure gambling, * if you notice the website for some time, you will see that there are few fake a/c that has been put up to outbid the once already ter, i checked and confirmed because the max bids avail on the website is 500 i guess and wen i started calculating the user id it crosses 500 and gogin, may be may be the user is such as that into gambling that he dont mind shedding 8000+8000+ an goes on, but to cover it up, there are few I.d that work alternatively, People please be aware of such sites, * you will end up loosing Money unless u got surfless money to shed, .. i am monitoring a Bid from last 4 Hours now and total number of Bids on that crossed 4000 that means that if each Bid from a user cost lets keep 30 rs . 4000x 30, now you guys do the math, , its quit luring and quit pulling when u see items works 20 k in few 100's, but please be aware that the websites they put up is not for our benifit, hehe, if you think so, think abt it, :) cheers
Even I have observed few fake ids who'll always outdo ur bid. When they end up winning it, the product is launched again for bidding. So the profit the website earns is not just 16 time in such cases. it goes into a multiple of 16 if these ids win the product. In addition, some itmes are overpriced also and the MRP. While and online search for price of such items reveal the same price sometimes, but the actual market price is less by around 20-25% than what they show. And rightly said, they don't care for your profit.
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I WANT TO KNOW ABOUT THIS BID.IN DETAIL..SO PLZ MAKE ME CLEAR TO UNDERSTAND IT PROPERLY, SO THAT I MAY BID IN THIS.
ACTUALY I WANT TO KNOW THAT IF I BID AMOUNT ...AND AFTER MY BID ..ANY OTHER BIDDER BID MORE THAN MY AMOUT ..THEN THE AMOUNT WILL DE DEDUCTED FROM MY BANK A/C OR NOT...
this is a copy of a german wesite www.swoopo.com . the company has a dubious reputation as no one is sure whether they have an automatic system that keeps on bidding to lift the rates up. this online auction format has come under a lot of criticism globally because it is not transparent at all. it's completely gambling just like in a casino. the house always win. and here too.
I would like to know how may of the users who have posted comments here learnt the business model of the website?? Has anyone done any calculation about the profit or loss this company generates?? Well.. Just follow some basic steps and you will come to know that its not all profit for the company people... Give this a try... suppose you own this company.. you have to purchase some 14-15 items daily which costs at least Rs. 70000 in the market... As the company ppl claim that they get items on discounted rates, lets assume that thay get some 20% discount on Rs. 70000.. The also they will get those items at Rs. 55000 per day... Now just go thu their sold list items and see at what price they have sold the items... take average of 25% of the MRP.. that comes out to be 25% of Rs. 55000 that is Rs. 14000. Now to cover up the loss they have to get the amount form bidders in terms of bids buying... their basic bid package costs Rs. 22 per bids... to cover up[protected] = 49000 total no. of bids that need to be sold comes out ot be around 2220. The basic package gives some 40 bids per package.. which means 2220/40 = 55 users need to buy minimum bid package everyday in terms of working on no profit- no loss formula... 55 users per day buying bids seems highly impossible... and even if the site people do some fake bidding, which is called "Bid Shilling" in technical terms, they wont be able to operate only on profit mode... This business model is a classic one and need continuous daily monitoring... and I truly respect the one who has invented this, be it some german or indian or anyone... Finally what matters is the thing that one out of 100 users is benifitted and in providing benifit this one user the company is benifitted from the rest of 99 users.. This in no way is gambling... One who is an advanced bidder, will definitely come to know how and when to bid for an item to increase the chance of winning.. Dumbos are not gonna win anything for this business model... If you see other business models, there is someone who has to sacrifice and someone who is to be benifitted.. And thats what defines the business I guess!!!
I found a review of Bid20.com on this site, it's very negative - http://www.bid2loot.com/directory/penny-auctions/1-directory/15-bid20
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@Fundooo I think don't bother on bid2loot.com.You can directly contact with their customer support number.These which review u have seen in that site also written by user like us.Use your mind and just do it and then say something about this site.I personally feel and experienced that this site is very good because I am a user of this site and also I have benefited with their policies.Hope you will also enjoy this.
Thanks
first of all the bid 20 has all this diffrent payment options ..but the sad thing is nothing seems to be working ..yesterday i tried to purchase a bid using my icici debit card but after entering all my details it shows that my card is invalid .so i was pissed off after giving all my information ..i tried twice but nothing happend so i ..called icici customer care and checked with them they told me that i cannot use my debit card to place a bid on this site ...hencei sent e-mail to the customer care of bid20 but still theyre telling me that they are accepting the paymnet through visa card...so i wanna know if someone else has had the some problem ...if no then how to make payment using icici debit card to bid20.com
Yes I totally agree I am pretty sure that they are making fool of people by simply asking their own people to bid in the online auction. Can you please look into this the link for the same website is www.bid20.com
Hi all,

I am Kumar from Tamilnadu, and i have got 2 products thru Bid20.com and the the products are the original...and they couriered thru Bluedart...packing also good. In my view as a customer i got the branded products at least 50% offfer from the current market price. so nothing is wrong in that.i am enjoying to do the Bid.
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This website is completely fraud which aims at only earning profits and also selling the products to its own people.
If you will notice, whenever we see the sold list, it shows the products have been sold at quite low price showing higher savings but in reality when we try to buy the same product next time, the cost keeps on increasing indefinitely till the time our bids are not over.
This simply clarifies that there is a computer system working for this site which plays the game in such a manner as no one is able to get any profit other than the company itself. Also by any chance if any individual tends to get any product, the profit margin which this company gets is almost 200 % from the same.
I will suggest either to buy the product from any store directly so that the product can be checked and seen and will cost only what the price is. You wont waste any of your funds just trying to buy at low price, which will never happen.
Nokia E72
Yes this is a legal website. Also this is pure gambling. the profit for the COMPANY is that ppl buy bids for amounts like 40 for 900 etc... for a case study consider a 13 000 rs pdct sold at a starting big of 250rs... ppl will buy bids for more than 13 000 just to try for this pdt ... so... i[censored] buy a pack of bid and get it for u.. its v profitable for the customer.., ie price for bids + price after bid = X . here X will be still less than 50% of the original price . ie 13000.


for eg : u bot the pdt for 3000 INR . u used a bid pack of 900 INR . so ur total expense will be 3900 INR plus shipping of 200INR plus 100INR for internet and current usage. so a maximum expense will be 4200INR... so is 13 000 or 4200 BIGGER ???

Get the profits when u can... ebay also started up their site like this... the more famous the site gets... the more larger will be the profit for the COMPANY ...


of course there are a lot of risks. RISKS :: u might loose ur money which u put in first for buying the bids i[censored] dont get the product u gambled for... that will be purely a disaster .. and once u fail.. ulll definitley drop out...


curious.. ::: they sold out a brand new HONDA CITY worth 8 00 000 for just 28 000

since then they stopped cars.. so PPL go n bid for highly priced stuff i[censored] r just wanting to get the PROFIT run... contact me at ma email i[censored] want some tips and advice on this ... DIXON
has anyone verified whether the products that they are selling is actually being promoted by the companies or not? i agree that many fake id's are there as it is not possible that u can see the same names bidding over and over just to increase the sale of bids.
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Hi,
From last 3 months i m observing this site, but i m still confuse to spend money for this. And is that safe to give you card details on this site to purchase bids??? Is that possible that they can missuses my card detail.???? pls guys help me... : (
According to my understanding what is happening at this site, can not be called bidding. Bidding means, more than one people offer a price for an item, the person who offers highest gets the item. All other people who dont get the item, dont lose their money. On this site, everyone who is bidding is losing money even if they are not getting the item...
Bid20.com is a scam!!! You have to buy bids at approx 16-22 Rs. per bid. However when you place the bid the price only augments by Re 1 not 16-22. So if a bid has price 600 it has earner close to Rs. 12, 000 not 600 as shown. The winner of the final bid can easily be an associate or relative of the site owners. So you will end up spending thousands without winning anything.

Beware of wasting money on this site!!!
this looks to be completely a foul play, i have been trying to bid since morning and the products i am biding are not getting bid and i see they have been sold even after my bid so what is the check on the same.
this is a fruad in nature
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