Anyone used Quibids?

[Suicide Bobb 5,000+ posts]

First off, I'm ONLY INTERESTED IN THOSE WHO HAVE USED IT. Nobody else, period. I'm not going to listen to you tell me that Quibids is a scam if you haven't used it.

For those that have used Quibids...what's your impression? Did you make money off of it? My buddy's friend bought a 55" LED T.V. for only $75 on there, that got me pretty excited lol.

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[Imtjnotu 5,000+ posts]

did he actually get the tv in tho?

 

[Suicide Bobb 5,000+ posts]

did he actually get the tv in tho?

Yep!

 

[Slayerx 10+ year member]

I've used it. It's somewhat of a gamble, and I gave up after throwing away about $35 lol

So it was $75, but how much is he out on bids? Still a good deal since he actually got something I'm sure lol

Way I see it, to be sucessful on that site, you'd have to be able to afford those things anyways and be able to invest some serious cash; be willing to toss a chunk of change away on nothing. I'd rather spend a few bucks a week on the lotto lol

 

[Suicide Bobb 5,000+ posts]

I've used it. It's somewhat of a gamble, and I gave up after throwing away about $35 lolSo it was $75, but how much is he out on bids? Still a good deal since he actually got something I'm sure lol

Way I see it, to be sucessful on that site, you'd have to be able to afford those things anyways and be able to invest some serious cash; be willing to toss a chunk of change away on nothing. I'd rather spend a few bucks a week on the lotto lol

How did you throw away $35?

 

[Imtjnotu 5,000+ posts]

If he got the tv then I say do it

 

[MANTI5 10+ year member]

Is it like that beezid place where you buy bids, then on top of that, pay the winning price?

 

[Slayerx 10+ year member]

How did you throw away $35?

On bids

Is it like that beezid place where you buy bids, then on top of that, pay the winning price?

Yes

 

[Suicide Bobb 5,000+ posts]

Yes

What I mean is, how did you lose those bids?

 

[MANTI5 10+ year member]

In that case, it's not a scam site exactly, it's just a big gamble. No different than the lottery, you buy chances to win except with this site when you win you pay again.

 

[nikosbuddy 5,000+ posts]

Its not a scam my friend has gotten 2 things on there, ever bid is 60 cents wether its you or someone else, your bidding on the item. Your bid counts as a penny but costs you 60 cents. so when a laptop gos for say $17.86 ending at 17.86 you would pay the total of the auction, $17.86, when in reality everyone else that bid to try ad won, lost there .60 cent bid so when it all is said and done thats actually 17.86 (1786 bids x.60 = 1071.60) 1071+17.86+ shipping.... so all in all you get it for cheap you spend a couple 60 cent bids and if ya win hey ya get something rediculously low, theres more and more people doing it everyday. I am not responsible with debit cards so qbids will not be in my future :/

 

[Suicide Bobb 5,000+ posts]

Is it like that beezid place where you buy bids, then on top of that, pay the winning price?

Let's take an iPad for example. $500 new, and that's likely how much the company paid for it.

Each bid costs you $0.60, and they come in a 100 pack for $60 total. Each bid is worth $0.01.

Typically, iPad auctions end at around $50. Multiply $50 by 100 (since each bid is worth $0.01), and you get 5000 bids placed, each of which the company made $0.60 off of. That means the company gets $3000 in the pocket off that one auction. Add in the $50 final price and subtract the $500 initial cost, and they net $2550 in profit.

The consumer pays $50 for the final price, probably $30 for shipping & handling, and however many bids they made times $0.60. In the end, the consumer gets a $500 ipad for probably under $100. It's a win-win situation!

Of course, the company still has other things to account for. Advertising (which they also make money off of for having other sites advertise on their website), the warehouse (and maintenance), the costs of the goods, website development (which includes maintenance, improvement, design, etc.), licenses, patents, a customer service line...the list goes on. But the sheer amount of money they make off one sale, of which they do probably hundreds daily, makes this a very profitable business from the looks of it.

I would love to hop in and compete by making a similar service but without requiring the purchaser to pay the final price and without fixed amounts of auction win's per 28 day period, but one, I don't have the money to invest, and two, it's a pretty difficult market to hop into. I doubt that Quibids has a monopoly on the penny auctions, it's just that the idea is so hard to believe that requires HUGE amounts of advertising (and difficult kinds of advertising at that) in the beginning, and it only runs smoothly with high traffic, something that is extremely difficult to generate from the beginning. But if I had the money to invest and could persevere until traffic picked up, there is much gold at the end of that rainbow //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[Chriszle 10+ year member]

I just recently started using it. I suggest being patient and watching if your going to try it out.

 

[killa101 10+ year member]

I have not yet heard enough good things to go near of these sites yet. Sure, there are people are out there that do actually win but at the same time I have read of people not getting items they won. There is also speculation that bots can place bids on these sites. So if an item may not make money they simply have a bot bid to keep the auction going until it makes money or just have the bot win it so they don't have to sell the item.

The other thing that doesn't make total sense to me is why would anyone make the first bid? Unless there is only second left until the auction ends I don't see why you would bid early on when the price is low. Even if the bids only did come at the end I don't really see there being that many bids to get the price up to where they would make money. If an item sells for $20 that means there would have to be 2000 bids on a single item. Sure, that may be plausible but it is another thing that makes me suspicious of the site.

In the end you can try it and see how it works. You may only lose a few bucks bidding on items. But even in the best case scenario it is a gamble to ever win something.

 

[rumdada 10+ year member]

You have to get lucky plain and simple my little brother won a $500 gift card off of there for $22 bucks ! So my dad thought he'd give it a go he just ended up blowing $50