Pisobid: Scam Free, Bots Free

Basically, we know how auctions work: An item is displayed with a small value and then people who wants to get the item starts bidding. The price of the item goes higher and higher as the bidding goes on until one is left with the highest bid. Pisobid is just basically it but with a touch of excitement and fun in your own homes.

Known as the country’s premier piso auction site, Pisobid.com is soaring high with the items they have in auction – Smart phones (Iphone 4, Samsung Galaxy, and HTC), DSLR Cameras, macbook, gift items and more.  Just like a regular auction, these items are displayed online and in 1 peso starting price. If someone bids on the item, the item increases by one centavo. Then there’s a 15 second timer that starts as the latest bid is placed and it just goes on and then the last bidder with the highest bid wins.

But still some people are hesitant about the site.  Some say that it is a scam, has bots and the house always wins. I always participate in the bidding and here’s what I observed.

I just discovered Pisobid just last month when my friend told me about the site. After I observed how it works, I realized that Pisobid has no bots and is fair and square. Let’s do the math:

A single bid is worth 6php

0.01cent is added to the price of the item as you bid

Last July 10, an Ipad2 32 GB (Original price: 28990.00php) was auctioned and was later bought for only 22.97pesos.

This means: 22.97 – 1.00 (starting price) = 21.97 (meaning 2197 bids)

Therefore: 2197 x 6php (per bid) = 13,182 pesos, far from its original price.

Last July 9, A ticket for the incubus concert was auctioned (original price: 11620.00php) and was bought for only 5.95php

So this means: 5.95-1.00 (starting price) = 4.95 (meaning 495 bids)

Therefore: 495 x 6 = 2970php, 8650php lesser than the original price.

And believe me there's a lot more. That is the reason why I don’t think Pisobid always wins, it really depends on the bidder’s interest.  I am pretty sure Pisobid is not using bots (because if they do, they should have used them in bidding on those items) or any other dirty tactics for their own benefit. They offer a fair fight for every bidder so that they will get their chance for the price.

You can register here!