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Old 11-11-2010, 06:14 PM
 
Location: Eastern NC
20,307 posts, read 18,289,604 times
Reputation: 18134

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Was wondering if anyone here has used this site successfully?
QuiBids - Shopping Redefined
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Old 08-15-2011, 06:51 AM
 
7,376 posts, read 13,039,836 times
Reputation: 6974
bump, curious as well
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Old 08-15-2011, 07:08 AM
 
7,376 posts, read 13,039,836 times
Reputation: 6974
Just read about it. Its misleading.

The way penny auctions work is that you are only able to bid a single penny at any time during the auction. However, at QuiBids.com, you must purchase each 1 cent bid for 60 cents. So an iPad that retails for $499 but was won for the grand total of 2,254 one cent bids (or $22.54) which actually cost 60 cents each means that the iPad just sold for $1352.40.
Though the person who wins the item usually has paid less than retail for what they have received, citing $22.54 as the winning bid is extremely misleading.
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Old 08-16-2011, 09:35 PM
 
Location: Edmond, OK
4,035 posts, read 9,343,601 times
Reputation: 4191
One of our local news channels just did a rather scathing story about it.
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Old 08-17-2011, 11:14 AM
 
Location: Striving for Avalon
1,428 posts, read 2,127,882 times
Reputation: 3379
It's gambling in the guise of an auction.
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Old 08-17-2012, 10:00 AM
 
35,129 posts, read 42,598,295 times
Reputation: 30524
Quote:
Originally Posted by skel1977 View Post
Just read about it. Its misleading.

The way penny auctions work is that you are only able to bid a single penny at any time during the auction. However, at QuiBids.com, you must purchase each 1 cent bid for 60 cents. So an iPad that retails for $499 but was won for the grand total of 2,254 one cent bids (or $22.54) which actually cost 60 cents each means that the iPad just sold for $1352.40.
Though the person who wins the item usually has paid less than retail for what they have received, citing $22.54 as the winning bid is extremely misleading.
I just knew there was a catch thanks for explaining it..
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Old 08-17-2012, 07:30 PM
 
Location: home...finally, home .
8,267 posts, read 18,726,135 times
Reputation: 17856
It sounds like something that Hogwarts would sell.
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Old 08-17-2012, 08:32 PM
 
Location: Tyler, TX
15,210 posts, read 18,501,100 times
Reputation: 8052
I was involved in a startup of one of these penny auction sites. Ours never got off the ground, but yes, the successful penny auction sites are HUGELY profitable.

There's nothing misleading about them. As long as you understand how they work, you can get some good deals. You have to understand that they're not eBay, though, and anyone who plops a chunk of cash into one without understanding what they're paying for is, quite frankly, an idiot.
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Old 08-20-2012, 04:24 PM
 
15,264 posts, read 20,207,809 times
Reputation: 21679
Quote:
Originally Posted by swagger View Post
As long as you understand how they work, you can get some good deals...anyone who plops a chunk of cash into one without understanding what they're paying for is, quite frankly, an idiot.

A friend of mine who didnt understand how quibids works signed up on it and ended up paying @ $50.00 bidding on various items -- none of which she won. (Yes, she was an idiot.)
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Old 08-22-2012, 02:44 AM
 
Location: Yucaipa, California
9,802 posts, read 18,766,965 times
Reputation: 6582
Default QuiBids.com: The Home of Entertainment Shopping

Opinions ?
http://www.quibids.com/en/category-e.../tv-and-video/
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