Funky Shark Review

| October 18, 2012 | Reply

Product Name:  Funky Shark

Product Authors:  Kevin deBellefeuille, Haydn Stevenson and Scott Walker

Headline:

A Brand New Income Opportunity…That Pays Daily

Price: $39.95 plus $14.95 monthly

Money Back Guarantee:  30 days

What Do You Get?

– You get admission to this penny auction

Where To Buy: http://rewards.funkyshark.com/learn/businessid

Brief Summary:

Funky Shark from Kevin deBellefeuille, Haydn Stevenson and Scott Walker is a penny auction site, which is a type of all-pay auction in which all participants must pay a non-refundable fee to place a small incremental bid. When time expires, the last participant to have placed a bid wins the item and also pays the final bid price, which is purportedly significantly lower than the retail price of the item.

What’s It All About?

This is a penny auction product, where you buy bids say at £1 and then with these bids you bid for a product on the auction. The price of the product increases by 1 penny per bid. At the end of the auction, the person who made the final bid gets the product. It is possible to win items such as cars, ipods, t.v.’s and holidays etc. However, all the other participants pay a non-refundable fee to purchase bids and therefore lose money.

The auctioneer makes money in two ways: the fees for each bid and the payment for the winning bid. Once the auction is over, the auctioneer collects the final cost of the item in addition to the money already collected by selling bids. You are also encouraged to propose other people to Funky Shark with the promise that if they enter an auction and win you will receive a substantial bonus.

Do I Need Experience To Make This Work?

No experience necessary.

How Much Money Do I Need To Get Started? 

Any amount, but the more money you spend the higher the chance of winning something.

How Much Money Can I Make?

You could win an expensive car or more likely nothing.

How Much Time Will I Need To Make This Work? 

Very little time is involved.

Will I Need Any Equipment To Do This?

A computer and an internet connection.

Value For Money?

Not for me, but if you want to take a gamble it could be very good value.

Does It Live Up To The Claims In The Promotion?

If it did everyone would soon be very rich.

Quality Of Customer Service:

Queries are answered by email and a refund should be no problem if not satisfied.

Review

I have never encountered a penny auction that will make you endless profits like what is mentioned in the promotion. There is only one guaranteed winner and that is the auctioneer. For example if a laptop worth £400 sells at a final price of £40 and a bid costing £1 raises the price by 1p, the auctioneer receives £4000 for the 4000 bids and £40 as the final price, a total of £4040. Therefore there is a profit of £3640 (4040- less 400).

If the winning bidder used 30 bids in the process they would have paid £30 for the bids and £40 for the final price, a total of £70 which would give a profit of £330.

From the above example, the auctioneer has made a profit of £3640.It is said that 50% of the profit is shared out among participants, but that still leaves him a nice profit of £1820. £1820 shared amongst all the rest will give a very small return for each player.

If you are a gambler, this could be for you. For me, however, the chances of buying a product for around 10% of the normal retail price are very remote.

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Category: Lifestyle, Saving Money, Website

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