You can register for free and at the same time get an amount of credits for you to place your bids. And as long as your bid is the lowest unique bid, you will win the item. The site auctions a vast array of items. Ranging from branded LV bags, to a Porsche Cayman. And the final price of these items are unbelievably low. So you may be wondering now, how do they actually earn money? Well, here comes the catch...
Every bid you make requires 1 credit. My personal experience is like this. I make my first bid, then the system tells me if my bid is the unique lowest bid. If my bid is not the unique lowest bid, then I will have to bid again. This process carries on until I hit the unique lowest bid. I then wait for the auction to end. Hoping that no one else "outbids" me. For 6 long hours, no one "outbids" me. Suddenly, bids start coming in 5 mins before the auction ends and I got "outbid". I tried to "outbid" them, but I ran out of free credits and began to realize how the site earn money.
Once you run out of credits, you will have to buy in credits with real money. Each credit is US $1. That means, every bid you take, you are losing $1. So even if you manage to win the bid at $15.47 for an iMac, you still have to consider how many bids did you make. The total cost is the total bids you make, plus the actual winning price. Of course the total cost will still be far cheaper than the actual market price of the product. But think again, you are the winner of the auction, which means the rest who did not win the auction, had wasted all their credits (money). If the iMac is sold for $15.47, we can be quite sure that there are 1546 non-unique bids, from $0.01 to $15.46 before that. Let say each of the 1546 prices has 2 bids, that will mean that at least 3092 credits had been used. This is actually how the site earn money.
Initially, I thought this could be a scam site, but after figuring out how they can earn money this way, I doubt that possibility. Anyway, I find this site's idea pretty cool, but I am not sure if it will last. Do you have any experience with this site?
2 comments:
I have won auctions at Tribber. And I have lost. Tribber is great if your opponents give up quickly, and expencive if your opponents are stubborn/pig headed.
You may end up spending 1000 dollars without winning, and you may end up spending 200 dollars on an iMac.
It is impossible to say that it is great, or that it is bad - it depends on your opponents :)
To me Tribber has been good, I have won a lot of auctions, and I know I can't winn them all...
If you use Tribber, knowing you may not win, then you have the right attitude... but if you can't afford to loose every now and then you should stay away.
There is only one winner for every auction - everyone else participating must loose.
It is fun to win, and it is exiting too :)
As long as you know what you are doing here, I have no problem recommending Tribber.
Yeah! My first and last bid is for 50 tribber credits. Some bidders can be very persistent and it can become really annoying.
What you say is correct, if you want to have fun in tribber, then you must afford to lose at times.
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