Apr 06, 2004 07:58 PM
2227 Views
(Updated Apr 06, 2004 07:58 PM)
Baazee.com, well they have this sort of auction called 'MaxBid', where people can buy products for 10% of its market price! For example you can buy Nokia 7600 for Rs.2600, while its Market price is Rs.26000. Here's how it works.
From Buyer point of View:
When buyers buy some goods (with thing called Baazee points attached to them by Sellers), they earn Baazee points. In fact the sellers have to pay quite some amount to Baazee to attach points to the goods. So naturally they charge more for buyers on those products! For eg, if you get a product with 1000 Baazee points, then you might have paid Rs.250 for those points alone!
These points, they can invest in bidding for a product under Maxbid. Under MaxBid, each product has its own 'baazee points required' to Bid. That means, if a product requires 1000 Baazee points to bid, then if you bid on that product you lose all your accumulated points, no matter whether you win or lose the auction. The person who quotes the Maximum Unique bid less than 10% of the product's value alone becomes the winner.
Now this looks attractive. But understand what happens. From nearly 500 people who invest their Baazee points, only one wins. And what's the surity that he's a genuine buyer and not a Baazee staff?.. So, if 1000 points are required to bid on a product, and 500 people bid on that, now which is equivalent to Rs.250, 250 x 500 = 1,25,000 rupees go to Baazee.com! Even if you dont win, you lose your points! Meanwhile remember, you have paid nearly Rs.250 rupees.. thats a waste!
So this is just Gambling on the net, which is illegal. This is a trap to catch customers, who dont understand that their money is being taken actually. Baazee.com is doing cheating business with its MaxBid.
Apart from that, lets consider ordinary shopping at Baazee.com. The buyers don't buy products from Baazee, but from sellers who are not known much to Baazee. So if you dont get a product, after sending money, Baazee at the maximum sends a couple of mails to the seller and becomes silent from then! SO be careful. You may find one or two good sellers. But most are money minded!!
