Based out of Montreal, Quebec, Beezid.com is a penny auction website that claims to feature hundreds of auctions running all day, every day for new, brand name, factory sealed products, including cameras, computers, iPads, TVs, gift cards, jewelry, and much more. As such, Beezid claims that their unbelievable deals on just about anything has helped their customers save more than $14 million since opening their doors in 2009.
In all honesty, it’s difficult not to get excited about the possibilities that penny auction websites such as Quibids and Beezid.com offer. After all, who wouldn’t want to get a flat screen TV for $2.37, or a Playstation for $1.66? But is Beezid a legitimate source for inexpensive items, or will it just cause your hard-earned money to buzz right out the window? Keep reading to find out.
An Intro Into How Beezid Works
Websites such as Beezid.com are known as “penny auctions,” since each bid you place increases the overall “price” (more about this in the final section) of an item by one cent. As such, the company often advertises that their customers can obtain popular, high-dollar items for “insanely” low prices. In fact, Beezid claims that the average auction winner obtains their item at 94% off retail.
With this in mind, Beezid.com features 5 different auction categories:
- Cherry Auctions – Because every new member is entitled to win up to ten Cherry items plus Bid Packs, this is where you’ll want to start out after signing up for Beezid.com.
- Guaranteed Win (GW) – You’re guaranteed to win with your first bid pack purchase. If not, you’ll receive every single one of your bids back.
- Bid for Free – After completing your first Bid Pack purchase, you can participate in these auctions, which won’t cost you any bids. Instead, you’ll pay the winning price at the end.
- Promo Auctions – Special events where lock limits don’t apply. Includes auctions such as All Bids Back, Price Freeze, Trophy, Free Shipping, Cash Money, and more.
- 2 Bids (also known as Booster Auctions) – Allows you to cluster bids together and place them as one single bid, which accelerates the auction’s pace.
If you find an auction you’re interested in, clicking on it will display the included item, its full description/specifications, and image, as well as the current bid, auction type, time remaining, and how much it takes to bid. Here, you’ll also be able to view shipping, returns, and warranty information.
When you’re ready to place a bid, simply click on the green “BID” button. Afterward, 1 bid will be deducted from your account, and the bid amount in the auction will subsequently increase, usually by one penny. If the auction has entered the final 4 seconds when you (or any other user places a bid), it will keep returning to 4 seconds until this time runs out without any additional bids being placed.
Like most other auction sites, Beezid offers their “Autobeezid” and “Beezid Sniper” features, which can help you win auctions by placing bids when you’re not at your computer, or to give you an extra edge over the competition.
Beezid.com Pricing & Refund Policy
Beezid.com is free to sign up for, and you’ll receive 25 Promo Bids after doing so.
Important note: During the signup process, you’ll be asked to enter your credit card information in order to purchase a $60 bid pack, and the website will make it seem like a requirement. However, if you click on the “My Account” button on the top navigation bar you can bypass this page, at which point you’ll see your free Promo Bids.
Outside of this, you’ll eventually run out of Beezid bids and will need to purchase more. When this time comes, bids are available in packs of 36, 60, 100, 200, 500, and 1000, and range from $0.55 - $0.90 per bid (the more you purchase the less each bid costs). We’ll talk more about this in the final section.
If you win an auction, Beezid claims that the item will be shipped directly to you from the manufacturer, which can take 2-3 weeks to arrive. Also, keep in mind that if you choose the Buy it Now option within 24 hours of an auction ending, you’ll get to purchase the item outright and will receive all of your bids back.
What Do Other Consumers Have to Say About Beezid?
Overall, penny auction sites such as Beezid appear to have a low reputation among customers, with the most common complaints as follows:
- That you’ll often spend more on bids than you would have by purchasing the product at retail prices.
- Auctions for high-dollar items are almost always won by very experienced bidders with thousands of bids to their names.
- Even if you do win, auctions usually include very high S&H charges.
- Will often show pictures of popular items (e.g. cameras, computers, etc.) that display “Stand By” on them, but never actually go up for auction.
- Rude customer service personnel who are more interested in convincing you to purchase more bids than they are about solving your problems.
- Numerous accusations of “Robo-bidders;” e.g. robots that don’t represent an actual person, which are used to drive up the price of an item.
- Items not in stock, even after the auction is complete, and that Beezid didn’t follow up with any kind of consolation.
Bottom Line: Is Beezid.com a Scam?
With all of this in mind, if you’re looking to score some of the most popular items at up to 98% off retail, is Beezid.com the best way to accomplish this? Perhaps not, considering the following:
Understand How Penny Auction Websites Work
The most important consideration to keep in mind before signing up for a penny auction website like Beezid is that although each bid you place is counted as a penny, what you’re actually spending is significantly more. For example: If you purchased a 100 Bid Pack for $60, this means that each bid you place will represent $0.60 of actual money. As such, if you spent $5 worth of bids to win an item, this translates into $300 of real money (500 X $0.60).
Learn the Ropes
Because online penny auctions can represent a steep learning curve in order to become successful, it’s important that you read the entire FAQ section of the Beezid website before diving in. And don’t think that you’re ready to go after winning a Guaranteed auction, as these generally just act as teasers in order to draw you in.
Otherwise, Beezid might turn out to be a very expensive lesson learned.
Because Beezid.com makes winning penny auctions seem almost effortless, thousands of customers have been drawn in and lost a lot of money in the process. As such, they become frustrated and immediately begin throwing around the word “scam.” As such, the company seems to have a very low level of customer satisfaction, due to the fact that they’re not very upfront about your chances of winning, or how much you might have to spend to get there.
Bottom line: While we would recommend spending your hard-earned money on something other than a penny auction site like Beezid.com, if you do decide to sign up, keep in mind that it will likely take a great deal of practice to win any of the big ticket items, which is the opposite of how the site promotes itself.
3 out 3 people found this review helpful
They stole $70 dollars off my card when I signed up.
Bottom Line: No, I would not recommend this to a friend
1 out 2 people found this review helpful
It's fun but not really worth it. By the time you finally win one of the bids you have spent about as much as it is to buy. Not on all of them the gift cards for restaurants are easy to get, but the restaurants aren't really to convenient. Too far away. I would recommend because some people just may get lucky, hit it at the right time. But it is fun and frustrating at the same time. It will get as far as going, going, go and someone bids, and it starts all over again.
Bottom Line: Yes, I would recommend this to a friend