- Report: #1130208
Complaint Review: HotCloseouts2013 - Internet
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Author Not Confirmed
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HotCloseouts2013
Not Known Internet, USA
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Web:
hotcloseouts2013.com
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HotCloseouts2013 Z BiddyRewards eGiftCardFulfillment Purchased an I Tunes e-gift card through a bogus type penny auction site. Never recieved! Internet
I have saw internet bidding sites and found one that I thought was legitimate. I was wrong. First of all, They misrepresented how their site worked and showed how buying bids was necessary to bid on items. I bought some bids and tried to play thier game. It didn't take me too long to figure out that in order to win a bid on anything of any value was impossible. As long as two or more people were bidding on the same item each time a bid was made, the clock was reset with 15 seconds giving anyone bidding plenty of time to place another bid.
As bids cost .60 cents each and anything of value was bide on non stop, they were litterally making tens of thousands of dollars on say an I-Pad or I-pod or T.V.. In other words they were making profits in the 5 to 6 digit range on anything of value. I say this using their described way of doing their business. In my case I "bought" an I-Tunes card with a face value of $25.00.
Even though they made astronomical amounts of profit, it was made even larger by not delivering the goods purchased. I have never recieved the I-Tunes card (which they said was backordered) nor any further communication from them after their email telling me that it was backordered. It has been 1 day shy of a month today! They had things set up in a daisy chain type set-up involving the 3 companies mentioned above, and each one explained how they were not responsible for the others part of completing the transaction. All in all, I have to hand it to them, they had things set up to make hundreds of thousands of dollars on a single item as bids were made on items of any value at a minimum of 1 bid @.60 every 15 seconds with the bidding going on days and weeks on the same item. I saw several electronic notebooks, I-pads, I-pods being bid on for over a week! Perhaps longer.
Do the math. Anyone bidding on an item knew the process and how it worked. It was kind of like the lottery, you could throw hundreds of dollars in bids toward an item, but as long as someone else or several someone elses were bidding it was impossible to win.
I said I "bought" the I Tunes card, which you could do at any time by paying the full retail price they advertised and you could subtract the worth of the bids you had placed on that item at half of their puchase price (.30) and then pay the difference with a paypal account or credit card. This didn't stop the item from being available for anyone else to continue bidding on that item and it was the only way I could see not to just kiss your money goodbye! I figured I would take my licks, lesson learned. I didn't think there would be any issue getting the card, again if they just delivered the goods people either bought like me or actually won a bidding war on an item, they had it made. They were making huge amounts of money on things that people were bidding on with practically no chance of winning.
I would love to see this company sued, big time! If anyone can find out who was running it!
Sincerely, Dumb @*%.
