“No matter what the stage of the bidding, the second-highest bidder can improve his position by almost a dollar by barely topping the current high bid. Yet the predicament of the second-highest bidder gets worse and worse! This peculiar game leads to a bad case of buyer’s remorse. The highest bidder pays far more than a dollar for a dollar, and the second-highest bidder pays far more than a dollar for nothing.”-William Poundstone, Prisoner’s Dilemma, Doubleday, NY 1992, pp. 280-282..
Bids cost $1 each on BidonCash.com, it’s another penny auction site that strictly auctions off cash, well PayPal cash that is.
I wonder if Martin Shubik ever thought there would be such a thing online…
“The Grand Opening of BidOnCash is finally here. No cameras, phones, or DVDs here… just cold, hard cash, from $50 all the way to $10,000.
No slow, lost or damaged shipments either… your cash will be in your account within 12 hours, ready for immediate withdrawal by PayPal or NETeller, or one of our other convenient withdrawal options.
BidOnCash is managed by professionals with many years of experience in various online and entertainment businesses, with First-Class customer support available 24/7.
Cash is King, and so are you, at BidOnCash.com. Registration is free and easy, so sign up and get your free bid, it might be your lucky day!
Steve Morrow
Customer Support Supervisor”
Is BidonCash.com almost like an online casino? What do you think? Discuss in our forum.
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Nimpkish February 9, 2010, 7:20 pm
What other cash only auction sites do you know of?
auctionwatcher February 10, 2010, 10:40 am
Hello Nimpkish, Horneto was one it is now gone, there is another one in the UK http://www.psychobanker.com/main.php However we are unsure of their legitimacy right now.
Fredrik Jönsson March 18, 2010, 1:45 pm
Look in to the sites company. Soluan Investments Ltd
and the site use a allredy coded softwear, and yes it has robots on it
Stephanie March 20, 2010, 7:53 am
Thanks for looking into this. Now it makes sense why I lost $300USD in a few hours on this site, since bidders are ready to go way over what it is worth each time. Also notice how it is always the same people that have been winning big sums at low end bid prices in the history. STAY AWAY FROM THIS SITE! THERE ARE SHILL-BIDDERS. THEY ONLY LET ME WIN A 30BID PACK AFTER I SPENT $300.
AmyNys March 26, 2010, 10:19 am
I do not recommend joining this site. I have joined on on 3/22 after checking out PennyAuction on Twitter. I put $100 and tried to win $100. Guess what I saw? The same people winning each day using more than 500 bids just to win $100! And you can win 3 items each day. I lost my money. What’s funny is that there is something called BidJames so I believe the people run that and use more than 2000 bids just to win the money. I find that weird. If you don’t believe me, take a look at that site for yourself. I won 30 bids after someone took out BidJames on purpose. After I won, I saw the same person on 50 bids. So why would that person let me win? Hmmmm
Greg August 11, 2010, 4:58 am
Yes I lost $150.00 on winning $30,00 its total scam.
The company is based in Cyprus, it has nominee Direcrtors.
Cyprus is money laundering center for Russians too. It has no controls or real laws their.
They have a professinal SEO company to do blogs and backlinks. They just have wonderful blogs on high ranking PR sites and go on for ever. The bloggers just say wonderful things, its done by a local bloogers in India.
Nice set up for sure and will convince any dummy.
I am IT pro and can see by index on google and stats that it has fake users.
The IP address for users mainly come from Cyprus and Romania. The hosting is in Romania which is East Europe, where curruption is like having a burger and fries.
PLEASE DO NOT PALY THIS SITE!!!!! EVER!!!!!!
The main killer is any site like this should have paypal, if not its not legite.
As paypal only let in good and reputable people and do checks.
At least with sites with paypal, you can get your bids back if they do not pay.
Again I say ………… do not play it!!!!!!!!
Hermes Bids October 16, 2010, 9:59 am
hermesbids.com is an all cash auction website. I think its better than bid on cash. No robots just regular autobidder functionality
UR MOM!!!!!! June 16, 2011, 6:19 pm
Fuk i just got 100 dollars for 5 cents hahahahaha sukerz