A site giving "auctions" a bad name

#1

Last nite our local NBC station did an investigative report on an "auction site called Bidz. They sell only Jewelry.

The site is set up to look like an Auction site, but it looks to me like it's just a 1 man show, nothing you or I could sell on. And from what the report had, none of us would want to be involved with that site.

They have all the listings set up with a "compares to" price to make it look like all the items are high quality items at a really good price. But when the reporters got the items they were all junk not even worth the bargain price. They took them to a jeweler for appraisals and he verified that they were mostly stuff you could get at your local Wally-world or flea market.

A joke was that one of the listings said "real stone". The jeweler said, yah granit and gravel is "real stone" too. He couldn't identify what the stone in that item was.

The story started because a viewer and her friends found the site and bought several items but were disappointed with them when they came. The tag line was that the viewer said she would never buy jewelery on the internet again.

Carol

#2

Can someone get their money back if they arent satisfied? Confused

#3

Uh, yes that was in the report -- you pay the shipping PLUS a 15% restocking fee !!!

Carol

#4

So in other words, the site still makes $$ no matter what happens Confused

Reports such as Carol mentioned do make online auction sites look bad but need to be addresses IMHO. It would not surprise me if that particular site shuts down soon only to reopen under a different name. Cool

#5

Carol - thanks 4 sharing!!

Elgato - I so agree with you. Unfortunately, the internet is so 'open' any business person (good or bad) can easily close down shop, reopen with a new name and then continue their business practices...

When I had my recent 'incident' on Yahoo, that's exactly what the user did. The website he 'had' suggests the sales and profits support those in need. Once reported, and some 'heat' came, he did exactly as you state - closed down that site, and opened a new one.

Everything, but the name remained the same - which is so sad for those who are scammed. I don't know 'how', but do wish there was some way to more formally regulate internet businesses....

#6

The bidz name sounded familiar so I searched the forum and found a few threads about them.

http://www.powersellersunite.com/viewtopic.php?t=2791

http://www.powersellersunite.com/viewtopic.php?t=4435

Somehow they are also on http://auctions.nettop20.com/
looking at the screenshot it looks like the site has been revamped or sold to someone else.

#7

The name sounded really familiar. I've seen spam and tons of advertisements (affliate too I think) for them. They really worked at getting "out there." The site does look different now, but I recognize the style of the B in their favicon.

And what did it get them, but "caught."

And what does it give everybody else but a bad name?

Sad

sylvia

#8

Well...I read thru the posts that PSU provided (thank you), and it sure seems back then - they were reputable and 'on the way'.....

The name was familiar to me too - but I discounted that, as I live in that state constantly.... Rolling Eyes

Have they been sold? or is it the same folks, but things aren't going so well?

Bummer - and agree - gives us all a bad name!! Sad

#9

The name had sounded familiar to me too. But when I did a quick look at the site count page, I thought maybe I had been mixing it up with WeBidz.

Now that PSUnite posted the links, I remember that thread where GrannySuz had the problem.

It's not really an auction either if you watch the pages for a while. I watched the home page where there are "closing soon" listings. When they get down to 5 seconds, they cycle back to a higher number and just keep repeating.

I'm sure they will fool a few "occasional" shoppers that don't know what a "real" auction site looks like other than eBay.

Carol

**#10**

Carol - I watched it for a little bit - I think it 'bumps' back up when there are bids within a certain amount of time. I saw a bunch close with 'bids' and saw a few with time added - so either they have that 'functionality' set up to extend the time, or it auto-extends when there are no bids...

I dunno! Cool

**#11**

I think the ones I was watching didn't have any bids at all.

A bit goofy in any way. I like knowing when a listing is ending. If there are no bids just do a whole new re-list not just add a few seconds.

Carol

**#12**

Quote: › The site is set up to look like an Auction site, but it looks to me like it's just a 1 man show, nothing you or I could sell on

Definitely not a 1-man show. Next to Ubid they're probably the most successful non-eBay US auction site. They reported 1st quarter 2007 revenues of $44.7 million. The company is ranked 86th on Internet Retailer's list of the 500 largest ecommerce sites on the web. Their projected full year sales for 2007 are $170-$180 million.

http://www.internetretailer.com/dailyNews.asp?id=22489

SEC filings: http://investors.bidz.com/edgar.cfm

They do allow independent sellers through their certified merchant program (qualifications are similar to those for Ubid):

https://secure.bidz.com/MerchantTools/companies.aspx?action=new