Deal Dash "Fair And Honest" Bidding Site

Discussion in 'Financial Cents' started by Brokor, Jul 16, 2020.


  1. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    dd0.
    We've probably all seen the television commercial promoting the "fair and honest bidding" from Deal Dash. I only caught it a few times when I'm at work because I don't watch television at home. I was bored, so I decided to check into this site. As soon as I made my account, I was taken to the portal to buy $30 worth of bids at $0.13 ea. and I could choose between doing this by credit card or Paypal. My eyebrow raised immediately because I recognized the potential for a scam.
    You see, most people won't think about it much because your single bid at 0.13 cents is peanuts compared to the price advertised for the item being sold. The thing is, it's your single bid multiplied by however many other bids there are that adds up. You are not told the total profit per item the company makes as far as I am aware, and the potential for you to be scammed is quite high. You see, you've got to pay for every bid you make, win or lose at whatever rate they have set (currently at 0.13 cents) and the counter resets the auction for every bid placed to 10 seconds, and this continues until nobody else places a bid and the highest bidder wins. In a way, it is like reverse gambling, but there's no luck or chance involved, here.
    So, if you "win" by being the final bidder, sure you can buy that $2,000 television for a $25 final bid, but you also have to pay for every bid you made at 0.13 cents, and every other person has to also pay for their bids as well. Many people end up placing dozens if not hundreds of bids in no time at all, which equates to real money to the Deal Dash coffers every time, plus the value of the bid itself.
    I recognized the scam being deployed, and there's not much that is "fair" and "honest" about this practice, so beware. Further information linked below.

    Is DealDash a bargain penny auction site or a "perverse lottery"?
     
    arleigh, Ganado, snake6264 and 5 others like this.
  2. oil pan 4

    oil pan 4 Monkey+++

    I knew it was a crock from the sellers perspective, as I used to sell a ton of stuff on ebay.
    One of the deal dash ads says something to the effect "new cars sell for under $500". That's BS because taken at face value no dealer is going to just sell a new car for $500, when they could put a sticker on it at the lot for $5,000 and sell it in a day or 2.
    So some how, some way the seller is getting around fair market value for their item or no one would sell anything on there. It's as simple as that.
    Everyonewho doesn't win just helps pay the seller.
    It's like the Bernie sanders version ebay auctioning.
    You know, if it sounds too good to be true, it is.
     
  3. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    Yes, if you do the math, every bid is only in 1 cent increments, and they literally cost 13 cents per bid, or $13.00 for every DOLLAR in bids. No matter who wins or loses, the DD company makes their money, THEY always win.

    This means DealDash rakes in $13 for every Dollar. That $500 car represents 50,000 bids, or $6,500 of real money they receive.
    A scam is a scam is a scam.
     
    Gator 45/70 likes this.
  4. oil pan 4

    oil pan 4 Monkey+++

    I'm sure some portion of that $13 earned per dollar increase in sale price goes to the seller or no one would sell anything on there.
    Assuming DD isn't the sole provider of listings.
     
    Gator 45/70 likes this.
  5. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    As of June 2020, all items on DeadDash are sold by DealDash only, and there are no third party sellers.
     
    oil pan 4 likes this.
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