04 December, 2010

Wavee -- not worth the money

Dec 17, 2010: I finally received the email to claim my gift card -- it took 7 emails to Wavee in all before this occurred. On the 7th email, a representative who had not previously responded provided all the necessary information. This was the service I expected with my first email. As far as the gift card itself, many are electronic only. I did order one that had to be mailed -- I'm still waiting for it to arrive.

Some of you may be familiar with a new service, Wavee. You bid on items of interest, $0.01 at a time. The highest bidder wins, and gets to purchase the product for the bid price. Sounds good? Well, each bid you make costs $0.75. But consider, an item that sells for $300 took in $22,500 (30000 * $0.75) -- there's 30,000 bids at $0.75 each on an item that sells for $300.

So while you spend your money to be the single winner, Wavee's raking in the dough.

You can also buy items that are up for auction. In some cases, they offer a discount based on the money already spent on your bids. I made 4 bids, $3.00, on a $25 gift card. I was offered the card for $22. Why not? I thought I'd test the service, so I bought it.

Once my credit card was charged, I was notified that I would received an email to select my gift card. It's now 8 days and several emails later, and I have still not received the "golden" email so I can get the gift card.

Since the initial registration, with 100 bids, is $75.00, I'm out nearly $100 and have nothing to show for it -- I do have 42 bid credits left. Based on my experience, I recommend you wave goodbye to Wavee.

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