I was curious about Beezid.com and spent most of the day attempting to understand what, at first, seemed to be an interesting possibility of bidding on useful electronics and gift cards for a very reasonable amount.

I even admit to purchasing 50 bid points for $40 to see if, I too, could be a lucky one, to bid on something I might want. One auction that appeared to have only 15 seconds left on it would be hit by another bidder and watched as these 20 second auction went on for hours. Soon my bid points twindled to 18 and I knew that I had been had.

I watched one auction end for an internal auction of 200 Beezid auction points retailing for $120. This poor bidder b5036687 kept bidding, then he/she would get slammed at the last second and then he/she would bid again. This kept on and on. the same 20 second auction must have gone on for, at least, an hour. Finally the end came and b5036687 won what he/she had been wildly bidding on.

I then checked how much this all cost b5036687 in bid points and it was 248 at a total cost of $173.60. Remind you he/she was bidding on the bargain of 200 bid points for $120. The bottom line was the bidder lost Big Time.

Yes, he/she should have been more aware of the fact that every time you hit the bid button it cost you a point. There were repeat bidders, bidding against this bidder and yes, there was a point where I begain to think this might be an internal scam, because those other bidders were spending way to many points for what the bid was worth. i just began to do the math and something was very wrong.

I warn all of you that might be intersted in Beezid.com to just sit and watch the bid names when the bids get hor and heavy for an important item, you will see the scam unfold before oyur eyes. I should have taken my own advice, but foolishly bought my 50 bid point for $40 without throughly spending more time doing my homework. Please don't make the same mistake as I. Beezid is a SCAM. But, I must say, they are clever, no doubt, distant relatives of Scary Madoff.