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Posted: 8/11/2011 2:52:08 AM EST
Well? It looks like a scam to me. Anyone here used it and bought a gun (or anything else?)



www.guns4pennies.com
Link Posted: 8/11/2011 2:54:55 AM EST
[#1]
It's screaming "scam" to me.
Link Posted: 8/11/2011 2:57:53 AM EST
[#2]
Are they accepting GPal for payment?
Link Posted: 8/11/2011 2:58:20 AM EST
[#3]





Link Posted: 8/11/2011 3:04:46 AM EST
[#4]
When I misread the title my first reaction was "no gun is worth that!"

Then I started considering that I may have more fun with full-auto guns, and the trade didn't seem too bad.
Link Posted: 8/11/2011 3:06:53 AM EST
[#5]
Quoted:
It's screaming "scam" to me.


I know, it sounds like an ATF front to me.
Link Posted: 8/11/2011 3:07:39 AM EST
[#6]
Same guy?

http://www.ar15.com/forums/t_1_130/1217302_hey_Ed__what__my_money_s_not_good_enough_for_you_.html
Link Posted: 8/11/2011 3:08:45 AM EST
[#7]



Quoted:


When I misread the title my first reaction was "no gun is worth that!"



Then I started considering that I may have more fun with full-auto guns, and the trade didn't seem too bad.


Ha same thing, Penis wait wut?!!?



 
Link Posted: 8/11/2011 3:09:03 AM EST
[#8]
I read that as "Guns4Penises" and thought, "I'm in!"  
Link Posted: 8/11/2011 3:13:41 AM EST
[#9]
It's just a penny auction site.



You have to buy your bids with each penny bid typically costing at least a dollar.




If you win an auction it has really cost you a dollar for each of your bids plus the winning bid amount.




If you get into a bidding war you could place hundreds of bids and come away with nothing (which often happens because bidders have invested hundreds of dollars in their bids so they are unwilling to give up and there is no fixed auction end time, each bid in the last 15 minutes typically extends the end time for another 15 minutes so bidding wars can go on for days).
Link Posted: 8/11/2011 3:16:12 AM EST
[#10]
It looks like a standard penny auction site, but with guns. Probably not a scam, but not really an efficient way to buy a gun either.

Google penny auctions. You have to pay to bid on items, so they make their money selling bids rather than making it off the item selling price.

Posted Via AR15.Com Mobile
Link Posted: 8/11/2011 3:17:41 AM EST
[#11]
As I've been reading more about it, I understand it more... here's how it works.



Each bid costs you ~$1 (depending on how many "bids" you buy")

Each time someone bids on an item it goes up $.01

So if you bid 20 times and win an item for $1.37 you actually paid ~$21.37 for it, and all the other people who bid on it lost their $$ they paid for the bids.



So it works out great for the winner, and everyone else gets the shaft.



I suppose it makes sense. They gave me 5 free bids for registering. I wonder how high the SPAS-12 that's up for grabs will go.



They have all the legal stuff listed (FFL requirements, etc.), and a google search shows a few people HAVE had success... I'm not buying any bids though.



Right now the SPAS-12 is at $127ish, which means there have been 12,700 bids on it, at ~$1 per bid. So that means if it sold RIGHT NOW, the winning bidder would pay $127 + bids, and they will have sold it for $12,727.



Damn I need to make a website like this.
Link Posted: 8/11/2011 3:47:34 AM EST
[#12]
Typical 'penny auction' site.

They claim that you are winning the auction 'for $24.59 for a gun worth $400!!!'....

However each penny you bid (or someone bids) cost them $0.25 to place the bid...so that $24.59 actually netted the auction site 2459 x 0.25 (over $600 for the gun).

Yes, the winner paid a few $$ for the gun, but it's like a raffle...you buy tickets for $1, but to put them into the drawing, you have to give the guy $25 for each ticket you want to use.

AFARR
Link Posted: 8/11/2011 3:49:43 AM EST
[#13]
I need to get into this business

Quoted:
As I've been reading more about it, I understand it more... here's how it works.

Each bid costs you ~$1 (depending on how many "bids" you buy")
Each time someone bids on an item it goes up $.01
So if you bid 20 times and win an item for $1.37 you actually paid ~$21.37 for it, and all the other people who bid on it lost their $$ they paid for the bids.

So it works out great for the winner, and everyone else gets the shaft.

I suppose it makes sense. They gave me 5 free bids for registering. I wonder how high the SPAS-12 that's up for grabs will go.

They have all the legal stuff listed (FFL requirements, etc.), and a google search shows a few people HAVE had success... I'm not buying any bids though.

Right now the SPAS-12 is at $127ish, which means there have been 12,700 bids on it, at ~$1 per bid. So that means if it sold RIGHT NOW, the winning bidder would pay $127 + bids, and they will have sold it for $12,727.

Damn I need to make a website like this.


Link Posted: 8/11/2011 3:51:13 AM EST
[#14]



Quoted:


I need to get into this business




Quoted:

As I've been reading more about it, I understand it more... here's how it works.



Each bid costs you ~$1 (depending on how many "bids" you buy")

Each time someone bids on an item it goes up $.01

So if you bid 20 times and win an item for $1.37 you actually paid ~$21.37 for it, and all the other people who bid on it lost their $$ they paid for the bids.



So it works out great for the winner, and everyone else gets the shaft.



I suppose it makes sense. They gave me 5 free bids for registering. I wonder how high the SPAS-12 that's up for grabs will go.



They have all the legal stuff listed (FFL requirements, etc.), and a google search shows a few people HAVE had success... I'm not buying any bids though.



Right now the SPAS-12 is at $127ish, which means there have been 12,700 bids on it, at ~$1 per bid. So that means if it sold RIGHT NOW, the winning bidder would pay $127 + bids, and they will have sold it for $12,727.



Damn I need to make a website like this.






You are about 3 years too late, the first sites to come up with this made good money but there is a lot of competition now (predominantly in electronics, there may still be niches to exploit).

 
Link Posted: 8/11/2011 4:02:27 AM EST
[#15]
Link Posted: 8/11/2011 4:18:45 AM EST
[#16]
Link Posted: 8/11/2011 4:24:48 AM EST
[#17]
Those are not really a scam, per se...

If it costs you money to BUY bids, then it is just a craptastic business. You KNOW what you are getting.

The whole idea behind winning an auction is that it is a game of WILL.

The person who is willing to stay the longest, and keep their bet at the top will win.]

Im sure they have some sort of "15 second rule" or some such, where once a person has bid, someone else has 15 seconds (or so) to out-bid them.

If someone falls asleep, or has a heart attack, they lose the auction.
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