These days, online auction sites are becoming big business, as consumers are drawn to the allure of scoring valuable items for pennies on the dollar. One auction site, called Bidz.com, claims to offer jewelry and other high-ticket items at discount rates; however, there are numerous complaints regarding a Bidz scam. Before you give your credit card information to this company, read the following review.
The Bidz.com Scam
Like other auction sites, such as QuiBids, MadBid and Skoreit, Bidz allows consumers to compete for items by placing bids. That said, you don’t have to look far to find complaints regarding a Bidz Scam involving bait-and-switch practices in which a bidder wins an item only to receive something quite dissimilar to the one pictured in the auction.
According to the Los Angeles Times, there are also several complaints regarding the site's irregular bidding patterns. According to the newspaper, persistent member complaints have prompted the Better Business Bureau to grade the company with an 'F' rating.
The Times also reports that several critics have expressed concern over the company's relationship with a jewelry supplier named Saied Aframian, who was imprisoned at one time for receiving stolen merchandise.
In its defense
It should be noted that Bidz.com is a public company that originally attracted significant attention from investors. According to the site's founder, David Zinberg, the company continues to experience strong growth due to "the allure of its auction style" combined with "management's hard work."
However, according to the LA Times, the company's two largest stockholders are Zinberg and his sister; and they've been actively selling significant amounts of shares as rumors of the Bidz scam spread.
Based on numerous online user complaints and the LA Times' scathing report, I can see no other option but to make my Bidz.com review a negative one. If you're interested in scoring cheap merchandise, beware. As in most aspects of life, you get what you pay for. I simply wouldn’t recommend offering your credit card information to a company with this sort of reputation.
Upon publication of this review, KinofHowTo.com was contacted by Jorge Gonzalez, a customer service manager for Bidz.com. According to him, since the 2008 publication of the LA Times story mentioned in this article, his company's BBB rating has improved from an F to an A+.