A few weeks ago, I wrote this article on Dibbing.com. Yesterday, I came across another auction site, this one is a penny auction site called Biddi.com.
Biddi works in a completely different way to Dibbing. I like Dibbing, I do not like Biddi.
Let’s start by explaining how Biddi works. First, as always, you find a product you like. Once you’ve registered and bought your bids, you can place a bid on that chosen product. If you are the highest bidder when the auction timer reaches zero, you are the winner.
However, like most auctions, including eBay, the activity increases as the auction nears its closing time. Unlike eBay, however, Biddi extends the auction by 45 secs everytime someone places a bid. Each bid costs 50p and will increase the price of the item by 1p – hence the penny auction.
The site itself looks good and there are some nice features, its the integrity I’m coming on to questioning. Here’s a live example of why I have some reservations about Biddi.
Yesterday I watched an auction for an Apple iPad 16GB. The auction was due to close at around 4.45pm but as people were still bidding on it at that time, the auction was extended by 45 secs everytime someone bid. The auction actually ended at 11.34pm.
What this means, if we are to believe that there is no system driving this auction artificially or that staff are not manually driving the bids up, is that people were bidding on this item for 7 hrs solid.
Seven hours? I’m sorry but I simply do not believe that there were that many people bidding on that item for that long.
The final sale price was £27.74 which if true, and the item is actually delivered (more on that shortly), then 2,774 bids were made – the vast majority in those last 7 hrs.
The maths of this are quite interesting. At £27.74 there were 2,774 bids (each one at a penny), which at 50p per bid means Biddi made £1,387 gross profit. Take the cost of the item off that and they are left with at least £950 net profit.
Deliver is £9.99 which means they will make quite a bit of profit on that too. Dibbing charge £4.99 delivery in comparison, which I can live with.
Check out the Bidi.com Facebook discussion board. Someone won an iPad several weeks ago and has yet to recieve it. Hmm.
We’d like to hear your views and experiences on Biddi.com. Add your comments below.
Background on Biddi.com
The company behind Biddi.com is KSB Trading Ltd, who’s registered offices are at 90 Broad Street, Birmingham, B15 1AU .. just in case your item doesn’t arrive.
Google them for more info.
* * Update * * * Update * * * Update * * * Update * * * Update * * * Update * * * Update * * * Update * *
Biddi.com has Shut Down
Quick update from the Biddi.com website. Dated 24th January 2012, the above message is posted on their home page and confirms what we all feared, that the Biddi.com website has shut down. The full message reads;
WE ARE IN NEGOTIATIONS WITH SEVERAL LARGE COMPANIES ABOUT A REVAMPED AND EXCLUSIVE OFFERING.
WE HAVE DECIDED THAT TO ALLOW US THE TIME TO DO THIS WE TAKE THE SITE DOWN UNTIL THE REVAMPED SITE IS LAUNCHED IN AROUND 4/6 WEEKS. WE WILL UPDATE THIS PAGE AS SOON AS WE HAVE FURTHER INFORMATION.
IN THE INTERIM ALL PREVIOUS WINNERS WILL BE CONTACTED INDIVIDUALLY AND WE WILL LOOK TO DELIVER ALL OUTSTANDING WINS PRIOR TO A RELAUNCH. WE WILL BE ABLE TO OFFER ONLY EMAIL SUPPORT DURING THIS TIME
THANK YOU FOR YOUR SUPPORT
Whilst they state that “email support” will be available during this time, they don’t actually publish an email address, typical.
Many people will be out-of-pocket, following the closure of the Biddi.com website. So what can you do?
- Contact your Credit Card company and register a complaint.
- Read this useful guide – Your rights when paying by credit card – for more information, as you may be entitled to your money back via your credit card company
- Contact PayPal and register a complaint – must be done within 43 days
- Contact the Trading Standards Institute to make a complaint
- Contact the Police if you feel a crime has been committed
- Read this useful guide on Company Administration
- Claim through the Small Claims Courts
- Visit them at their offices – 90 Broad Street, Birmingham, B15 1AU
The official offices of Biddi.com are in the centre of Birmingham, at 90 Broad Street. However, the address registered at Company House for the parent company, KSB Trading Ltd is actually 95 Broad Street, Birmingham. Follow this link for more info on KSB Trading Ltd.
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Please use the Comments facility on this page to keep others informed on what you’ve done, what you’ve heard (if anything) from Biddi, and what successes you have with regard to getting your goods or money back.