I have seen ads for this site for some time on television and hadn't bothered to look at it until now. I think it is unquestionably a scam.
The Beezid Penny "Auction" Site.Calling it an auction site is, in itself, fraudulent.
An auction by definition is where a third (uninterested) party negotiates a selling price between a seller and a buyer. The buyer is the one who bids the highest price for the auction item. Losing bidders are out nothing but the time involved in the auction.
You could make the case that Beezid is actually a gambling site. If you want to participate in the "auction" you have to pay for each bid. Bids cost somewhere between $0.60 and $1.00 depending on how many bids you purchase at one time. This is sort of like purchasing chips to play in a casino. Under most circumstances you lose your bids (chips) whether you win or lose the auction. At Beezid it appears that the most bids win an auction rather than the highest bid. That's the way a slot machine pays out, too, coincidentally.
And if that was as bad as it gets, well, that would be bad enough. But it's not. By the time you add the cost of your bids to the cost of the item you win (if you ever do, in fact, win something) and then add in shipping you probably end up paying full price or more.
And then there is the conspiracy angle. I'm not a big conspiracy person but Beezid meets all of the criteria for a successful conspiracy. The auctioneer and the seller are the same person (or entity) and that makes for a huge conflict of interest. There is absolutely nothing to prevent Beezid from running completely fake auctions. Let's say that Beezid decides to run a completely bogus auction...say for a $5000 flat screen tv. But what if there is no tv? What if there is never any intention to sell one to an actual person? Beezid could quite easily use software (fake bidders) to continually bid up this tv until it exhausts all real bidders and sells the item to itself. Since the seller is the auctioneer is the seller and has access to unlimited free bids, how can they possibly lose? They can't.
So the logical conclusion is that the auction site is most likely run like a casino where the house wins a guaranteed percentage of all the games. But it does it under the guise of an auction. That's a scam.
