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how aunction site like beezid.com make profit ?

Discussion in 'General Business' started by oliviergwada, Jul 30, 2012.

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  1. #1
    hi friends,
    i just want to talk today about auction site like beezid.com.
    I m wondering how site like this make profit by selling item at very low price ?
    let discuss about this
     
    Last edited: Jul 30, 2012
    oliviergwada, Jul 30, 2012 IP
  2. Titing Kabayo

    Titing Kabayo Peon

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    #2
    After I found your post, I emailed the owner and still waiting for his response... :D
     
    Titing Kabayo, Jul 31, 2012 IP
  3. dJpArx

    dJpArx Peon

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    #3
    IMO, bid sites usually get paid by bidders who purchase bids or spend small amount of money to bid on the item. If there are free bids then it can be high traffic to their sites that earns them money.
     
    dJpArx, Jul 31, 2012 IP
  4. jestep

    jestep Prominent Member

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    #4
    It's pretty easy but requires a good number of members. A member has to buy bids to bid on an item. beezid gets the money for any bid placed on an auction and not just the winning bid. Add in that they are probably buying the auction items themselves, and it's a huge profit, again assuming there is a large number of users.

    Most of these sites fail because they get a ton of chargebacks. People don't understand the model when they sign up, and then aren't happy when they realize it costs money to bid, and not just to win. These auction sites usually last less than a year before they can't find a payment processor.
     
    jestep, Jul 31, 2012 IP
    oliviergwada likes this.