- Business and Employment
QuiBids Advice- How to win (how not to lose) on the penny auction wesbite
QuiBids auction site
More and more people are flocking to "Penny Auction" websites in order to save a buck - but its not working out for everyone. Why? You got to know the game, and play it wisely.
There are great offers available, it requires patience and skill.
I hope you find some useful information on this lens!
You Don't have to lose a FORTUNE!
I have seen all sorts of reviews, from people saying it's a scam, to people who win the $1500 laptops for $5. For starters, its not a scam. And yes QuiBids make money, that's what they are there for. But they only make a 10%-15% profit. This is because while they make huge profit on some items, they lose on many more.
Take a look at the screen shot of my wins. My biggest deal was 0.90c for a $100 Sony iPod radio. I have also won many blu-ray movies for under 50c. You see, I am starting out small. I have not yet tried to win any of the big items (tv',s ipads, laptops etc..)
I want to keep this as simple as possible. This is not an auction like eBay.
Follow these simple rules to make you don't loose money
> Firstly, familiarize yourself with the website. Browse for a few days before your bid. See what sells, how many bids certain items get and what times do they sell. Add items to your Watchlist for this reason.
> Start small, buy a small bid pack and go for items with not a lot of bidders.
> Buy bid vouchers. This saves you a lot of money. Downside is they don't count towards the Buy It Now price if you don't win.
> Don't wait until the last second to bid. Every time you bid, time is added on to give others a chance. If you really want something and someone bids before you, bid straight away. Why? This doesn't really add much time onto the auction. if you wait until the last second, hey presto there is another 10, 15 or 20, seconds added on to the auction, giving more time for someone else to stumble into the auction. Also it shows you are determined! But watch out for bidders who seem ever more determined, you could use up all your bids against someone like that!
> Bid-O-Matic. This does the bidding for you up to 25 bids. If you are bidding against someone who is using the auto bid feature, wait for someone else to bid against him, chipping away at their auto bids. Then you will have more bids left!
Basic Rules/Guidelines of Quibids
1. You need to buy a bid pack to start off @60c/bid.
2. You can only win 3 items per day - bid vouchers not included
3. You can only win 8 items in 28 days - bid vouchers not included.
4. You can only win 2 items over $285 in 28 days
5. You can only win 1 item over $1000 in 28 days
Some bidding advice - Read up on some auction material
Addressing the negative reviews I've read
Its a scam.
No its not. If you win something you will receive it.
You lose your money if you don't win.
Not true. You can still use the "Buy It Now" option even after the auction is over (Up to 2 hours). Then whatever you spent on bids, will be deducted from the final price.
Its a rip-off
Not if you bid smart. Quibids makes some big profits on certain items, but not on the ones I have won!! I like to think of QuiBids as a cross between gambling and eBay. You don't always know if you are going to win every time you put a quarter in a slot machine, but it's fun when you eventually get something back, even if you only break even. Don't waste you bids and know your limits!!
So far, I have won over $350 worth of goods, spending a little over $100.
Quibids Explained - YouTube
Take the time to familiarize yourself with the ENTIRE process. Watch this video.