Tim answers:

Just another penny auction site.

Tim answers:

Http://www.mywot.com/en/scorecard/dealfun.com

Tim answers:

Sort of. Its more like a gambling site. "Bids" (actually a bet that you will win) cost 60 cents. Each bid that a person makes raises the price of the item one cent and resets the bid clock allowing another person time to "bid." You are basically placing bets, raising and re-raising until someone drops out of the competition. The vig for the house (dealfun) is insane. For example, an Ipad 2 that sells to the winner for $150.00 has had 15,000 bids placed on it. At the rate of 60 cents per bid, that's a take of $9,000 for Dealfun, and the winner still has to pay $150.00 plus shipping for it. Of course, the 100+ losing bidders get nothing but the "fun" of having placed their bets.

The strategy then is to wait to place your bet/bid as close as possible to the price where everyone else drops out. Unless you are a great statistician or psychic, you are more likely to be a loser than winner. My guess is that less than 1% of bidders on high end items win. Those are really bad odds, but not quite as bad as the lottery.

Conversely, the odds of winning $600 in cash to buy an Ipad 2 are far better in more traditional types of gambling. For example, in Blackjack you win at least 48% or so of the time and there is no house vig, so Dealfun is more like a carnival game or Keno than an auction.

Tim answers:

DO NOT GO ON THIS SITE. I joined dealfun.com believing their hype. When you go to bid on items they claim that the last item was won for a really low price, yet I have so far never witnessed anyone winning any of the items for the supposed amount they claim. In fact I bid on won item that I saw won for $105 yet when they released the item again, they claimed that the last person won it for $8! Lies. Also, when you bid on items the price goes up 1 cent, and the timer is supposed to go up 15 seconds. I have bid on 2 items where I was winning, and twice someone has won without the timer increasing 15 seconds like it should. This site is a complete rip off, if you want to save money your best bet is ebay or graysonline.com they don't make you pay for bids.