Mark J Abrams

BIDZ Shareholders Fight Against Alleged Illegal Shorting

I have been a Bidz shareholder since 1999, long before it went public. I strongly believe in the company and management. I have seen a great company trashed over innuendo, half truths and illogical conclusions from the facts.

I have purchased over 600 items from the Bidz website and have never had a problem with any of the merchandise, the delivery, billing or any other issue. I have taken a significant portion of the jewelry to a trusted source (a certified gemologist) to have it appraised and in every case, the jewelry appraised for a significantly higher price (typically 3-8 times) than I paid for the merchandise. As some of the naysayers point out, the "compare" price does seem high. My experience is that in most cases, the price that one would pay for the merchandise would be lower than the compare price, but that does not mean that you could not find someone selling the merchandise for that price. If fact, I have found similar merchandise for the compare price when shopping in some of the "expensive" stores. It is difficult to feel cheated when I got such a great price, in spite of the fact that I could have purchased the merchandise for less than the compare price.

The F rating from the Better Business Bureau in my opinion is not justified. My personal experience with the company completely negates the F rating in my mind. The fact that they have only a handful of legitimate transactions with issues with over 10,000 transactions per day makes the problems such a miniscule percentage that it boggles the mind that the rating continues with the BBB.

I could go on for a long time about Bidz, but it has all been said before. The shorts are continuing to pass around their lies, but their day of atonement is coming soon. The Bidz shareholders are uniting to fight this wrong and we have enough right, determination and money to win the battle.

DISCLOSURE: I am very long on the stock. I have published a few comments on other blogs under Mark A. I have also been involved in various civil actions where I have been to the US Court of Appeals, the California Supreme Court and the US Supreme Court. I have spent over $1M in legal fees when some bureaucrats stepped out of line and I am in favor of going after the Bidz naked shorts along with all their brokers with the same vigor. I have joined in with the investors who organizing the legal attack against the naked shorts.