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Review 8/13/2010
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This Internet site and business model is a scam and should be taken down. The explanation of how the site works is ambiguous and very misleading. Selling packages of bids that have no inherent value in relation to the final purchase price is the epitome of misleading. This is not an auction but rather a raffle and should be advertised that way. In an auction the highest bidder pays and in a raffle everybody pays for a chance to win one prize. So even from the first four words on their web site "authentic designer handbags auction" the client is lied to. Merrian Webster definition of Auction:
Main Entry: 1auc·tion Pronunciation: \'o?k-sh?nFunction: noun Etymology: Latin auction-, auctio, from augere to increase — more at eke
Date: 1595
1 : a sale of property to the highest bidder Merrian Webster Definition of Raffle:
Main Entry: 2raffle
Function: noun Etymology: Middle English rafle, a dice game, from Middle French, dice game in which all the stakes can be won in a throw, literally, rake for a fire, from Middle High German raffel rake for a fire, from raffen to snatch, gather
Date: 1766 1 : a lottery in which the prize is won by one of numerous persons buying chances This site is not an auction site but rather a raffle site and this falls under the category of misleading advertising of the worse sort. At this site you do not buy rights to an auction but are buying rights to a raffle and should be advertised as such. Very soon this site will be investigated and taken down. In the meantime they will continue to fleece people out of their money with deceptive advertising practices.
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