Updated Information..... I still have not found any additional information on CEO Luke Teng as far as his involvement in other MLM programs. Basically Better-Living Global Marketing sell bids to affiliates for their Bidder’s Paradise penny auction website. The penny auction site works basically like most other penny auctions, except Bidder’s Paradise also has a “special price” function in their auctions. If an auction reaches a certain price, the auction will end with the last bidder winning the auction to keep the total paid by a auction bidder from having to pay more then "50% of Hong Kong retail cost". Bids for the auction site are only available in packs sold in bundles of 2,000 bids each for $1,160. Purchased bids can be used for Bidder’s Paradise auctions or given away to other auction customers.
Affiliate membership appears to be free, however an affiliate is required to both buy a minimum of one bid pack and pay a $15 annual membership to earn money. Meaning that the starting affiliate membership cost is $1,175 ($1,160 plus $15). There is also a affiliate’s "reserve wallet" from which a percentage of an affiliates earning go and these earnings can only be used to purchase additional Bidder’s Paradise bid packs. There is a monthly membership charge of $11.62 from affiliates "reserve wallet" balances.
Bid pack purchases are paid a daily profit sharing earning for 99 days, paid out 6 times a week (skipping Sundays), with the program matching all profit sharing payouts and placing the matching funds in an affiliate’s "reserve wallet".
The program pays out a 18% commission on sold bid packs ($208.80), with an additional 2% ($23.20) being placed into an affiliate’s "reserve wallet". They show three different affiliate levels as follows--- Manager, Director, and Vice-President. Again I try to find out what the affiliate membership rank qualifications are, but again I could not find anything out about them.
There is also a company-wide 2X12 matrix for every bid pack purchased. For each position under the affiliates purchased bid pack position, affiliates are paid $3.87 monthly. Each bid pack position has a potential 8,190 matrix positions under it and can earn a maximum of $31,695 a month if it fills up with bid pack positions.
A Leadership bonus is paid out using a uni-level wideX5 matrix. You are placed in the top position of the matrix structure with your recruited affiliates positioned under you (level 1) and your affiliates placed in the positions under them (level 2) and so on down five levels. The program pays out 3% of bid packs sold by your down line affiliates and is paid out as follows-- 2.7% ($31.32) directly to you and 0.3% placed in your "reserve wallet". The number of levels that you are paid down depends on your affiliate rank as follows--. Manager– 3 levels, Director– 4 levels, and Vice-President – 5 levels.
The Business Volume bonus is paid out using a 2X forced matrix. You are placed in the top position of the matrix structure with two affiliates positioned under you (level 1), and two affiliates positioned under them (level 2) and so on down any number of levels. These 2X forced matrix positions can be filled either by your sign ups or from your up line or down line. Whenever a bid pack is sold, it is credited to either the left or right side of the binary (depending on which affiliate sold the pack). For each bid pack sale matched on both the left and right side of the matrix $52 is paid to you, with $6.50 placed in your “sustainability wallet”. The Business Volume bonus is capped at 8 bonuses per day.
My Opinion...... Has my opinion changed about Better-Living Global Marketing program? NO I HAS NOT... In fact the more that I learn about this "passive" profit sharing program, the more that is scares me. The fact that the starting investment is over $1,000 and it's comp plan is largely based on the "failed" ZeekRewards "passive" profit sharing penny auction program, is a big concern for me.
Added that the programs web site states that "In August 2012, after witnessing the global penny auction phenomenon, Mr. Teng launched Bidder’s Paradise, a high-end penny auction site and used Better Living Global Marketing as the marketing arm". It should be noted that the launch month of Better-Living Global Marketing happened the same month that ZeekRewards was shut down as a Ponzi scheme by the SEC. This program just replaces ZeekRewards and Bidder's Paradise just replaces the Zeekler auction site in my opinion.
To date, not one MLM "passive" profit sharing penny auction has taken off, based on of the penny auction itself. Every program since ZeekRewards have only found success because of their comp plan, which is basically taking in money from new affiliates and using it to pay out existing affiliates and I see no difference with this program. And this is exactly how this program is marketed. Don't believe me, here’s how the Better-Living Global Marketing present their daily profit sharing plan "with daily profit sharing projections of $8.75 per day, based on payments made throughout early 2013, affiliates are urged to reinvest after the total 99 returns have been paid out."
In fact the program has re-investment plans already set up in each affiliates back office. Invest in the “good option” and for $1,175 you receive $1,939 after one year or you can invest in the “better option” for only $3,525 and receive a $5,884 ROI in one year. Want more, a “even better option” costs $8,225 and delivers a $16,547 ROI in one year. And for the high rollers out there, there is the “greater option” which cost $17,625 and delivers $40,323 ROI in one year. And of course these ROI's are totally "passive" earnings, with no referrals. Just invest your money, perform some daily task (I assume a online daily ad) and watch your eWallet balance grow.
Of course Better-Living Global Marketing are telling their affiliates that these commission earnings are being paid out with Bidder's Paradise profits, which can be proven un-true. The first RED FLAG is the lack of retail auction customers in the program. Just walk down any US street, ask anyone you see if they would be willing to purchase over $1,000 in penny auction bids, for a Hong Kong penny auction site, that is a confusing jumble of Chinese and English, without "hyping" up the comp plan first and see how many takers you get. Another indication that there very few retail auction customers is the FACT that the affiliate web site average is 2,192 daily visitors, yet the Bidder's Paradise auction site is currently only averaging 1,512 daily visitors. Add to the fact that affiliates are required to use 20 bids in auctions to qualify for their daily profit sharing payments, there is NO DOUBT that 99% of this auction site traffic is from affiliates.
The second RED FLAG is that, by now you must agree that this is but another affiliate funded ROI scheme. And every bid sold brings with it a plus 100% ROI paid out daily profit sharing liability for the affiliate program. In addition to this is the ongoing liability created by the program wide 2X12 bid pack matrix, with at least $3.87 per month per position also being paid out. And this does not even include the liability from the other added paid commission bonuses.
True the required forced re-investment (made possible by the correctly named "sustainability wallet" and "reserve wallet") will help keep this program afloat a little longer, but when new affiliates stop investing and existing affiliates start withdrawing their earnings from their third eWallet, it is not going to take long for the program to run out of money, then look out.
With both Better-Living Global Marketing and its affiliates recommending to new affiliates to buy in at the $17,625 level, the program making a guarantee $40,000 plus ROI within one year, and the program moving ever closer to its first year anniversary, it doesn’t take a genius to see a program collapse well before your typical 2 year "passive" daily profit sharing program life span. DO I NEED TO SAY MORE?
Just My Opinion,