People who can't do math
Hmm. This website (to which I am NOT linking) looks at first glance like a fun way to get a great deal - 16GB ipad for $200 - but it's a trap.
So you click the button, and bam - you've bid on an item.
The price looks stupid low - $1 for an olive oil sprayer? $220 for an ipad?
And even if you don't win, you can still get the item for the "value price." And the cost of your clicks is discounted from the "value price" so you can get it anyway!
Here's the catch. In addition to paying the bid price (plus shipping) if you win, you have to pay 60¢ per click - even if you lose. (Since each bid raises the price by 1¢, that $256.14 iPad made the company roughly $15,400 in bid fees.) Say you made 100 bids on that iPad before you gave up. That's $60 down the drain.
the istore lists a 16GB wifi-only ipad for $499, with free shipping.
The "value price" for this item is $699.
So if you decide to throw good money after bad, you end up paying $639 for a $500 ipad.
WTF? Apparently, consumers don't like to do math.
Hint: If it seems too good to be true - it is.
So you click the button, and bam - you've bid on an item.
The price looks stupid low - $1 for an olive oil sprayer? $220 for an ipad?
And even if you don't win, you can still get the item for the "value price." And the cost of your clicks is discounted from the "value price" so you can get it anyway!
Here's the catch. In addition to paying the bid price (plus shipping) if you win, you have to pay 60¢ per click - even if you lose. (Since each bid raises the price by 1¢, that $256.14 iPad made the company roughly $15,400 in bid fees.) Say you made 100 bids on that iPad before you gave up. That's $60 down the drain.
the istore lists a 16GB wifi-only ipad for $499, with free shipping.
The "value price" for this item is $699.
So if you decide to throw good money after bad, you end up paying $639 for a $500 ipad.
WTF? Apparently, consumers don't like to do math.
Hint: If it seems too good to be true - it is.