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. Was this information helpful? | 
when i saw the site for the first time i was so impressed and bought bids and started to study how this works and how this company makes money. It just takes
little brain to know how this works and even if there are genuine 10 bidders come at a time the company can make money. Infact i too made a similiar site but did not market it. it seems bid20.com just wants to make money without taking any risks.
if they even play right i am sure everyday they can still make good money and even the winner still get the product cheap.