Jumping in at the right time seems to be the only true way to win. When is the right time? I even expected that people would be working and therefore unable to watch the end of the auction. This is not practical because this site is accessible all over the world, so no matter what day of the week it is or what time of day, there are always thousands of people on the site looking for good deals.
It might be you and one other bidder down to the wire and then all of a sudden, a new guy jumps in with fresh bid counts and maybe even more money than you.
You have to have a little luck and sometimes a lot of money. In this case, I was given a copy of this Quibids buying guide that is supposed to help you win at Quibids auctions. I was wrong! While there are certainly no ways to beat the Quibids system and ensure never-ending victories, there are a few things you can look out for and in time, you can theoretically increase your chances of winning. I mention that because without pictures, you get 10 full pages of actual text that will help you at Quibids.
If you decide to buy it, remember these two things: 1. On the PayPal checkout page, tell Mike that Ledfrog. It looks like the guy who wrote that guide just simply disappeared! Sorry…it actually was pretty useful. While you are right about the cost of bids, you're wrong about how the system works. Of course these numbers can vary drastically per auction, but you get the idea. At any rate, this doesn't mean Quibids is a scam. In fact, it's quite the opposite.
It can't be a scam if they tell you what you're getting into before you start. There are no strings attached or any hidden terms, so it's like saying gambling is a scam, right? I have the photo's and the emails to prove it. There you go! Please give more details on your success if possible. Send reply to my email privately if you don't want to reply on this blog publically. Quibids and the other sites like it are actually great ideas… for the sellers!
Unfortunately only the web sites do the selling. As others have pointed out, the idea is to make money selling the bids. That is why the timer keeps getting reset, to extend the bidding so they make more money.
The chances of you ever winning an "auction" are very remote and the vast majority of people just end up wasting the money they spend on bids without ever winning anything. You are all wrong, if i pad goes for dollars retail and it sell for 40 dollars there are dollars in bids placed but u have the buy it now option.
So if 4 people use the buy it now option the only profit is in the shipping and the diffrence between whole sale and retail and anyone who does not use the buy it now option. If someone used the buy it now option, they have to pay the Quibids price minus the amount of money they spent on bids, so Quibids doesn't lose anything in this transaction.
The reason they don't lose anything is because the "retail" price listed on their website has its own markup. So unless this practice has changed, I can promise you, Quibids is still making tons of money on every item they sell. I agree that these sites are great and smart ideas "for sellers" They make a fortune. The only downfall is i DO believe some are scams. I have personally used numerous pennyauction sites. I have been with bidrack for a while with no problems, but quibids I have to say, wasn't to happy with, same goes for beezid.
Again, I have read mixed reviews. First of all, by "sellers", you mean the penny auction companies themselves, right? Because there are no other sellers like on eBay. Aside from that, please explain the scam. If you are under the impression that you're being ripped off or that the business model is setup in such a way that the "buyer" always loses than that's your opinion, but this still doesn't prove that a scam is a play here. But consumers would be well advised to simply steer clear of sites like these.
Send your tips or feedback to david. David Lazarus is an award-winning business columnist for the Los Angeles Times. His work runs in newspapers across the country and has resulted in a variety of laws protecting consumers.
Strike at Kaiser Permanente averted two days before deadline. Stocks close higher, but indexes still end week in the red. Real Estate. All Sections. About Us. B2B Publishing. Business Visionaries. Hot Property. So the thing with these auction sites is that you don't actually pay for a winning bid. You BUY packs of bids. Then when you bid it increases the amount of the auction by a penny and adds 3 or 4 seconds to the clock. So basically its the last person to spend a bid wins. There are also a bunch of weird automated programs that can bid on your behalf and I get the impression that there is some form of cheating going on, on these sites.
I can't be sure, but that's just what my gut tells me. Bottom line, you don't pay money or the auctions you buy packs of bids. Is it worth it to you to buy some bids and roll the dice?
I think it would be impossible to know if you're acutally bidding against another user that has a limited number of bids or against the auction company that would have unlimited bids. I'm sure they have it figured out for each item how many bids they need to make a profit. I would stay away. This is a lot of great advice, but has anyone acutally ever tried it? What did you win and how much did you pay? I didn't get the iPod. I tried it once.
Used the intro offer pack of bids to win a few auctions for more bids, when I had worked up to about bids I went after an iPad, and lost. Eventually the bids ran out and I refused to spend real money on more. And time, I wasted a ton of time. I'm just not sure its worth that. I wish I had thought of making one of these sites about 10 years ago They are raking in some serious cash. I won a Wii on there a year ago ended up spending 25 bucks to get it in total bids, it was good because it was a gift for someone :P.
No way. I'm not a big fan of the bidding websites personally.
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