Beezid may be a scam or some illegal online auction that targets people who spend thousands of $$$ and vast majority wind up with little in return. This I do not know.
But I do know this. I used a software program called Beezid Pro that supposedly gives you many statistics about live and completed auctions to assist you in bidding. This may or may not be legitimate--- I do wonder if it isn't just part of the Beezid empire --- another way to get $$$.
In any case, if Beezid Pro works properly --- the least Beezid.com is a loosely disguished gambling site. People who buy very large amount of $$$ ($1000 at a time or more) so they have enough "chips" (bids) win the vast majority of auctions for larger prizes.
Bids cost about 60 cents each (depending on how you get them). Bidders who buy 200-500 bids believe they can win these larger auctions --- since they often are won in less than 200 bids.
Truth: they won't win very often. When the high rollers want an auction--- they will just keep bidding --- sometimes considerably higher than the items valued worth. The result: the higher roller will win many auctions at reasonable prices and will sometimes drop $$$ on an item --- but they won't invest in an item heavily and not win it (if they are good). High rollers know the other big players --- and use good timing to get into auctions thus giving them a further advantage.
Low rollers: think there 200-500 bids can win anything. They cannot. Yes, they will get a few bones here and there ... but the people with tons of bids win a large % of the time.
Beezid says items like ipads go for $15 ... true --- but at 1 cent posted per bid toward the auction price --- that 1500 bids--- at 60 cents a bid --- that ipad brought in $900 for Beezid. Ipads can often go for $50 - 60 --- even over a $100. You do the math. High rollers win more often --- but as in any well-crafted gambling operation, the house is the big winner.
I could say more --- suffice it to say this is most certainly a gambling site. People invest $120 rreally have no chance to compete ... like gambling ... you feel if you only had a few more "chips" to participate in more "auctions"or bid a bit higher ---you'd be winning big, too. That's the addictive pattern used by any gambling enterprise. Before the person knows it --- they have bought bids several times --- and invested more and more $$$.
Stay away from Beezid and look for good deals on computers, electronics, av equipment, etc online from reputable sites --- look for refurb deals posted daily on sites such as techbargains.com, dealnews.com and dealio.com ---- in short and long run you will be ahead. Remember the old cliche that applies here as it often does in life: if it looks to good to be true, it probably is.
Participate at Beezid.com if you wish. Just know you have entered a "high-stakes" card game and not an auction. To win --- you need to treat it as such. You will need to invest many $$$ to be one of the consistent big winners --- this may or may not put you in the black over time. And remember --- the ultimate winner is Beezid.