Bidsson is a New Penny Auction Utilizing Network/MLM Marketing, Offers New VW, Is it Legit?

bidssonBidsson.com, which according to their about page is a  Delaware headquarted company, “owned by several entrepreneurs and is a part of the Bidify company structure who is owned by the same people. (www.bidify.com).”

Curious to find out more about who is behind this company seeing as they have left us with very vague info…

Who Owns Bidify?

Domaintools Whois Info Registrant:

Bidify LLC

Larus Palmi Magnusson ()427 N Tatnall St #15902 Wilmington

Delaware,19801 US Tel. +35.48928857

Creation Date: 01-May-2011Expiration Date: 01-May-2016

The 427 N Tatnall St in Wilmington, DE appears to be an address/mailbox that can be purchased for $16.95, according to www.earthclassmail.com/Delaware-Address:

“A Virtual Presence In Delaware

Street address available:

“Street Address
427 N. Tatnall St.
Wilmington, DE 19801-2230
Just $16.95 per month in addition to Monthly subscription fees
Will-call pickup not available”

Does Bidsson really have a real office in Delaware? 

Also, Google cache shows that the Bidify.com domain used to be registered to Mr. Magnusson to an address in the Seychelles. “Unit 117Orion MallPalm Street Victoria MaheK1S5P5 SC Te”

Interestingly enough, their previous address that was listed for Bidify, the Unit 117, Orion Mall, Palm Street address points to belong to SFM LTD, an offshore corporation registration company. 

Bidify Offshore Corporation in seychelles

What is Bidsson?

bidsson-home-aboutBidsson’s young age isn’t stopping them from offering high-end items. First a cruise, now a car.

Currently this penny auction site is offering a rather high priced item, a new economy car from Volkwasgen, the Volkswagen Up. While Bidsson tells us they are a Delaware based company, the currency reflected in the auction’s page is the € Euro and the Up is currently only available in markets outside of the United States.  The Up is valued at approximately $9,800 USD.

Bidsson only shows bidders the last 20 winners under the ended auction history page, there are items that have generated over 2k bids. 

Bidsson turns to network marketing to expand their penny auction business.

When looking further at Bidify.com it appears that this company is using a model of marketing similar to a multilevel/affiliate system.

According to the Biddson/Bidify marketing presentation found on the Bidify.com site,

“Bidify is managed by Larus Palmi Magnusson of Iceland. Bidsson is a penny auction available to the global market.
And, “Bidify and Bidsson are privately held corporations, owned by several entrepreneurs from different parts of the world.”

“In Bidify every-day people can qualify for leadership bonuses based on their performance. The leadership bonus can be up to 50% of the daily net-profits from bidding and purchases made by retail customers through the Bidsson auctions. Bidify affiliates have access to their leadership bonus report from their Bidify affiliate online source. When your sample bids are used by a retail customer, you earn bonus points. The bonus points are added to your bonus point balance.”
A 20 Euro monthly administrative cost is required to keep one’s affiliate account in “good standing” and a monthly personal volume of 50 Euros is the minimum required amount, this means an affiliate/marketer must spend €50 each month to even promote in hopes of generating commission from this company.

“There are bonus “tiers” that yield product sales bonuses. A minimum of 50 “pv” must be maintained monthly and 300 Euros in group sales volume.”

Bidify MLM

 

“In Bidify there are six different ways of earning cash rewards.

  • Retail Bid package purchases made on Bidsson.com by your personally referred customers.
  • Personally referred affiliate’s sample bid purchases through Bidify.
  • Downline affiliate’s sample bid purchases through Bidify.
  • Personal sample bid purchases, once they are given away to customers of Bidsson.
  • One-Time bonus on personally sponsored and downline affiliate’s subscription purchases.
  • Monthly bonuses on personally sponsored and downline affiliates monthly subscriptions.

One-Time Bonus is paid out on every affiliate subscription package sold. There are two different ways you can earn a One-Time bonus. Personally referred subscription package sale and  Downline subscription package sale 15 levels deep”-http://www.businessforhome.org/2012/04/bidify-review-2012/.

bidify

Bidify, the MLM marketing site for Bidsson has over 22k likes on their Facebook page, over 11k likes on their Facebook status update about a previous cruise ship auction. Bidsson’s Facebook has over 11k likes and highlights the world’s most expensive car at $2.4 million, the Bugatti Veyron Super Sports in their cover image:bidsson

bidsson-likes

Wow!

bidifyfb

Bidsson currently has no Twitter followers.

bidssonOther penny auction sites that promote their model via a MLM model are Zeekler and DubLi.

Is Bidify/Bidsson legit? What’s your opinion of this site and its business model?

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6 comments… add one
  • Michael July 10, 2012, 12:28 pm

    Hello PAW. I am currently an affiliate of of bidify, the marketing arm for bidsson penny auctions. So while I may be naturally inclined to promote the bidsson site, I will be as unbiased as possible in this post. Being an affiliate, I am very familiar with the backgrond and operation of bidify and bidsson.

    I can touch on some of the comments you made in your article:

    Why does Bidify have a US office? Bidify used to be entirely located in Seychelles during their pre-launch phase. In an effort to ensure legal compliance in the United States, they hired Kevin Thompson, a well known MLM attorney in the United States. We can assume that upon receiving advice from Kevin Thompson, Bidify decided to move their office to Deleware. No doubt that they may still have something going on in Seychelles, but they made a step in the right direction by listening to their US attorneys and now basing themselves in the US. I think the goal here has more to do with the US tax laws associated with international businesses. Making a US office may eliminate the challenges that US citizens will face come tax time… Just my opinion though.

    Features of Bidsson: Bidsson’s payment processor is skyfri AB, which allows you to fund your bidsson account to buy bids using Solidtrustpay or credit card. They claim the paypal feature will be in effect soon. They just enabled a max limit of 15 won auctions over the past 30 days. I’ve personally bid on multiple items, but have only won a 100 bid package. Bidify affiliates are allowed to actually sell-back the item for cash, minus a 20% restocking fee. I elected to sell-back, which was a smooth process for me. If you’re NOT an affiliate, you are allowed to sell-back for additional bids and not actual cash.

    Impression on the Bidsson Auctions: I’ve never tried bidding on the big ticket items. But they are auctioning off these items very frequently! Over the past several days, everytime I have logged on, I have seen the 7 night cruise (retail of $2,500). They just auctioned off a Breitling Chrono Galactic Watch (never heard of that brand before but apparently it retailed for 4,500 euro). They were able to auction it off for somewhere around 440 euro (44,000 bids). Soon thereafter, they have the volkswagon up for auction. They’ve only been up for about 3 weeks, yet they’re putting up some big stuff! If you take a closer look at the volkswagon, they state that they will purchase the car in the US to eliminate any challenges with overseas shipping. However, you’ll have to cover any other processing costs for the car (not sure what those are).

    Some of the shipping prices are very expensive (like 30 euro) for items that only retail for about 60 euro. That’s pretty steep and I get deterred from taking part in those auctions. They do offer many gift cards though, which have zero shipping costs. Once again, I’ve only won a bid package auction, so I have no experience with the shipping of products.

    I hope that someday they will implement an auction site that talks in US dollars. Right now, it’s a hassle for US customers to get used to the euro. Some people have been able to get good deals if they auctioned at the right time. I’ve seen many auctions go for less than 1.00 euro ($1.25). But then again, whenever I log on it seems that a lot of people are on…

    Anyway, I think i did a decent job at being unbiased. I think the auction is progressing well. The owner claims they already have more than 100,000 customers. If I come up with any more updates, I will share.

    Reply
  • בידיפיי July 18, 2012, 6:53 am

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    Reply
  • norge August 9, 2012, 10:32 am

    I am also a Bidify Affiliate, as well as having a founder’s position.
    There are numerous articles and blog posts throught out the web, some positive and some sceptical.

    I was the one that introduced Bidify and Bidsson to the forum, asking for opinions. In the mean time I am happy to say that Bidify so far has exceeded my expectations. My team is getting affiliates, people win auctions, and the earnings are increasing day by day.

    For now I’m using my daily bonuses to increase my earning base, and will do so for quite some time. So are my team members. One can choose whether to do that or to have the money put to your cash account.
    As for the monthly costs we simply turn off repurchase for a day or two (depending on your bonus payout, of course) to cover the 20 Euro monthly fee and the 50 Euros for personal volume (PV – 50 PV gets you 65 bids to shop for at Bidsson and generates income to your upline). That way you don’t need to put more money into the system.

    My earning base is increasing rapidly, and so is my affiliate network. We see that people think it’s a bit complicated at first, but gets the hang of it really quickly. Besides we keep our affiliates close and help then with whatever they need.

    I wrote a text I use on appropriate occasions, I hope this is one:

    The Bidify marketing system is rewarding, easy to understand and fun. Everyone can do it.
    Bidify is the marketing arm of Bidsson.

    The new and global Bidsson penny auction are running hot, covering over 200 countries world wide.
    You can shop for vacations, iPads and other electronics, tools, cosmetics, and even cars, in addition to other retail products.

    Signing up as a Retail Customer is fast, free and easy.
    There is no cost to register as a retail customer, and NO credit card is necessary. You will get 25 free bids to shop for. If you then click the “Like”-button you will get 25 more.

    People looking for THE opportunity will want to join the Bidify affiliate program and earn on their own downline.

    Bidify’s daily profit sharing program has everything you need to achieve your success!

    You get sample bids which are then given away to Bidsson customers (by Bidify, you don’t have to give them away yourself).

    When customers use your sample bids you earn on everything they shop for the next 120 days (like Zeek, but they have 90 days).

    Watch the presentation: http://bidify.com/index.php?page=presentation (as we speak the Bidify website is taken down for planned hardware upgrades)

    How much you can earn depends on the affiliate package you bought and on your own downline (up to 15 levels).

    In addition you get fingertip control of your business:

    – Full access to the Bidify opportunity when the Compliance Certification Course is completed.
    – Access to the personal Bidify Pro Marketing System.
    – A personal replicated Bidify Website
    – Complete access to Bidify University
    – Option to qualify to earn bonuses according to the Bidify Bonus Plan

    Our team will support you no matter where you’re from – hope to get to know you soon!

    Take a look at http://www.bidify.com/norge for details and registering, and you’re welcome to our affiliate team blog at
    http://www.bidify.no/wp
    Follow us on twitter too: @BidifyNorge

    Reply
  • S Holmes August 23, 2012, 7:31 am

    Bidify is run by former CEO of the Plexpay Network Ponzi/pyramid scheme Frode Jørgensen, with icelander Larus Palmi Magnusson.( http://www.bidify.com/index.php?page=about ).
    You can see Frode’s picture in the image of the article “Bidify Review 2012” (about mid-way down this web page)

    The Ponzi/pyramid scheme Plexpay Network was run out of Trondhein, Norway, with a mailbox company Evolve Trading in the Carribean money laundering haven Nevis.

    In the USA, Kansas and Alabama issued Cease and Desist orders against Plexpay and Frode Jørgensen, and Kansas fined Frode J and Plexpay 50 000 $.

    However, the legal “issues” were significantly worse in Norway than in the USA:

    On 20 September 2005, Plexpay was raided & shut down by Norwegian police, and Frode J arrested.

    In December 2007, the local court in Trondheim sentenced Frode J to 2 1/2 years prison, plus confiscation of assets, for establishing and operating an illegal pyramid scheme. Other Plexpay leaders were also convicted.

    On 15 Dec 2009, after appeals, the Norwegian Supreme Court sentenced Frode Jørgensen to 2 1/2 years prison (1 year suspended sentence) and confiscation of assets, for operating an illegal pyramid scheme.

    Frode Jørgensen has also run the Ponzi/pyramid schemes AmityFunds and Juugo, after Plexpay Network was shut down by the police.

    As the SEC recently shut down the penny auction/pyramid/Ponzi scheme ZeekRewards, charging its owner with operating a Ponzi scheme, Frode Jørgensen & Co have obviously feltthe grass burning under their feet.
    So the Bidify web site has been shut down “for maintenance” (a common excuse from collapsing ponzis and pyramids), and in all probability, the money has been transferred to anonymous accounts in the Seychelles, Panama or similar location.
    One thing Frode Jørgensen must have learnt from his Plexpay fiasco, including asset confiscations and time spent as (an involuntary) guest of the Norwegian state; Get the money off to an offshore money-laundering haven as quickly as possible!

    So, although Bidify LLC is officially a US (Delaware mailbox) company; If the US authorities should decide to prosecute they have little chance of getting Jørgensen and Magnusson extradited from Norway and Iceland, and with these people free from the risk of lengthy US prison sentences, it is unlikely that the people who have invested in Bidify will ever recover any money.

    Reply
  • Clark West September 13, 2012, 11:26 pm

    After Zeek went down you have to be a sound company with deep pockets. Zeek was the Enron of penny auctions. When you start to see similar results you can contact me and I can put you into a substantial 6×9 near the top of a true e-commerce business. Picture Amazon+EBay+Quibids. Take a look at BidXcel.com and sign up under “Freedom4u” and “Sherry Martin” before open enrollment closes. I applaud your efforts and wish you luck.

    Reply

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