If you want a good laugh at other people’s expense go take a look at http://www.telebid.com/. It looks like a very cool auction site with some real bargains. There is a 32″ flat screen with 49 minutes to go for £197. What is the catch?
The catch is that it costs money to bid. They state very clearly that bidding starts at 10p and it costs 50p for each bid. And each bid ups the price by 7p. Do some math. £197 means that there must have been 2814 bids (197.00 / 0.07). At 50p per bid that means they have made around £1,400 in bidding fees plus the £197 someone will pay for the set.
In a bizarre twist, they are auctioning packs of 300 bids (worth £150). Bidding has already reached £122 so they have made an amazing £871 plus £122 = about a grand selling something that doesn’t even costs them anything.
Are there really that many suckers around that they will pay 50p to make a 7p bid on an auction site?
WC Fields had it right. “Never give a sucker an even break.”
Bob Browning's blog 
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