OohIlove.com Saves You Money by Letting You Spend $800 on a $100 Handbag

What: Kathryn reviews the penny auction shopping site OohILove.com, which gets you to spend more money than necessary by appealing to your competitive nature.

The Review: So here’s how the site works. You buy bid credits- sold in 30 to 800 bid packs for a $1 per bid- which gives you the right to “bid” on an item. Every time you place a bid (even via the automatic bidder) you use a credit, which means you’re paying $1 to bid on an item (versus eBay which is free). So let’s say a Louis Vuitton Speedy bag is shown at auction for $3.50 (this is an example of a real price you can find on the site). You bid on the bag (costing you $1). After you bid the auction price increases by $.02 and the time of the auction increases by 10 seconds and you can keep doing this until the auction ends, paying $1 every time you place a bid. So, if you use 100 bids to purchase the Louis Vuitton Speedy at $3.50, you pay $103.50 for the bag, which is a great deal for a high end designer handbag.

However, according to reviews from other users it can take $50 to $100 in bids to score an item AND many accuse the site of using fake bidders to increase the price (thus causing you to bid more). While I can’t confirm or deny this, I do suggest that you read about the site here and here before signing up for the site. The site does have a fair return policy, you can return unworn/unused items within 14 days, and guarantees authenticity, which doesn’t happen on eBay. Regardless, it’s a pretty smart business idea. Just think- add the $50 or dollars you spend on bids across 100 other bidders and the site makes $5,000 off of a $700 handbag.

Verdict: Maybe. Before you bid, do a quick search to find out what the piece is selling for on other sites (including eBay) and make sure to add the cost of bidding to your maximum price, so you don’t pay more via bids than the item is actually worth.

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Comments

  1. Diana says

    I was a fan of oohilove, but now I really feel like I have been treated unfairly.
    What do you think I can do?
    First, communication is almost entirely by email. They have a customer service number, but I have only been able to leave messages with no return calls.
    For about 1 and 1/2 months, I have been bidding and bidding and bidding. It really can be addicting. I don’t think I am even in what I have spent, but I am not way behind either.
    After losing many times using manual bids, I decided the best strategy for me is to pick the bag you want, use bid assistant and stay with it. Sometimes I save 80% but other times I have saved 0%.
    I have bought many bid packs and I have spents thousands on bidding.
    Because I do not want oohilove.com to retaliate and never send me the bags I have won, I will leave out the specific dates that I am referring to.
    On Oct. __, I won a LV bag with 100 bids and paid for delivery and auction price for the bag. Four days later, I won another LV bag worth about $1000 and I spent $1000 in bids. To sum up, I got a great deal on Oct.__, and four days later I paid over full price for the second LV bag. I paid for the bags immediately(shipping and the auction price). Remember that the bids used are bought in bid packs and I spent over $1,000.
    After 2 weeks of waiting for the LV bags, I wrote an email and after sending a second request for delivery information, I got an email that really floored me.
    The email from oohilove support stated that oohilove made a mistake and had credited my account with bids by mistake. I never noticed that I had bids that shouldn’t have been credited. There is no way for me to check to see if there were mistaken bids credited to my account. If there were bids credited by mistake, there were not very many and anyway I just continued to replenish when I ran out anyway.
    Anyway the email continued to say that the first LV bag was no longer mine and that they would credit my account with 100 bids.
    I was then informed that the 2nd bag for which I paid over $1,000 in bids would be sent out.
    I am so upset about this. What do you people think? Any ideas?

  2. says

    The original site to ever do this was called PennyPurses.com. They are still around and sell brands like Coach, Michael Kors, Juicy and others. The great thing about the site is that they do not have nearly as many people so its much better chances to win a purse.

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