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I assume you’ve come to this site while searching for information regarding the legitimacy of DealDay.com. You’ve probably come across several customer reviews about the website and so far you’ve heard nothing but bad news. However, since penny auction sites have a bad reputation in general, you might be wondering whether DealDay could be different from other penny auction sites. This will be a non-biased article dealing with both the positive and the negative aspects of this particular penny auction site.
(Updated for 2013)
What Is DealDay?
As stated by their company, DealDay.com is a modern shopping site that lets you buy items at up to 95% off of their regular retail prices. The site employs one of the styles common to penny auction sites. It has a membership system where you pay a monthly fee to bid in their auctions. Normally this is considered as the seat auction style. However, in this case, DealDay is different from other auction sites in regards to their bidding auction strategy. Instead of increasing the price of items whenever customers place a bid, the auctioned item starts at the regular retail price and over time the price is reduced by one cent every second until a site member decides to “grab” it.
Grabbing an item automatically entitles the customer to a win meaning they get the item at the price currently being shown under the product. For example, an expensive game console is being sold at $200. As time goes by the price is lowered by a penny every second. Finally, once the item’s price reaches $130, a bidder decides to grab the item. That bidder then becomes the winner of that item and they will have to pay for the $130 cost. Other bidders can no longer grab the item since it has already been won.
In a way this makes a great deal. Bidders can potentially get items at a much lower price and their only competition is other bidders who might be able to afford the item at a higher price. It’s almost like a race.
Real or Fake?
So far the website sounds promising and it seems to have great potential. It also seems to be a legitimate business since they legally earn revenue through monthly membership payments despite selling items at a reduced price. Does this mean that the site is indeed trustworthy and would be a good choice for investment? Yes it is. IF everything is indeed true and with no strings attached. However, is this the case?
DealDay.com boasts claims that a lot of their customers get their products at very low prices; in fact their main advertisement is that their customers enjoy high probability rates of getting branded high-end items for up to ninety-five percent off of the regular retail price. So let’s compare their retail prices with those sold by Amazon and other regular shopping websites.
- An XBOX 360 Slim with 4GB Memory on DealDay currently starts at around $250. True enough the price of the items drops at an amazing rate; up to 25% off before a bidder grabs it. However, checking Amazon.com we can see that the regular retail price for the same XBOX 360 with 4GB Memory is actually just at $196.98.
This means that despite what DealDay claims customers can actually get the same item for almost around the same price whichever method they use whether it be Amazon or DealDay.com the only difference is that you need to pay a membership fee every month to buy products from their website. It’s also better to add that you actually aren’t guaranteed to get items at about 25% off the retail price since a lot of bidders will be competing as well. That means you’ll be stuck with having to pay for membership fees when you could have potentially bought the item from another shopping site without having to worry about fluctuating prices.
(Continued on next Page…Read About the Known Problems + Real Customer Reviews)