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Quibids: Scam or Not?? You Decide

Updated on January 4, 2014
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Quibids!

Quibids seems to be one of the hottest auction sites since eBay. Even though the site has not been around for that long, it is doing very well. I mean who wouldn't want to win a brand new Macbook Pro for about $70 because I know I do. They offer a wide variety of electronics, gift cards, jewelry and etc. The thing that attracts so many people is the ability to purchase these items for unbelievably cheap, which is why it appears to be a scam. However, if they are selling these things for so cheap how are the making money?


How Quibids makes their money.

1 bid = $0.60 so for every bid someone places on an item means that Quibids makes $0.60. Although that may not seem like a lot, trust me it is. Example: you have about 100 bids and you decide you want to go for something big like a $200 gift card. Every time someone bids the auctions goes up $0.01. Lets say that the bidding gets up to $55, which seems all good because your saving about $145. Well while you are saving that $145, Quibids just got 555 bids on that auction at $0.60 a bid meaning they just made $333 from that same auction plus the $55 you have to pay for the item, which is a total of $388 for an item that is only worth $200. Ingenious, I would like to think so. Although you are getting the item for way less than its worth, Quibids is making way for from all the other people that bid on the auction. So now you understand how Quibids is able to sell their items for so cheap.

Signing up

So everyone wins with Quibids. You get the item cheap while Quibids makes all the money. Seems somewhat fair. A couple days ago, I decided to explore the hype about Quibids. I created my account and everything, all I had left to do what buy a bidpack and as a beginner my only option was an 100 credit bidpack for $60. Also, because I was a beginner I was allowed to bid on special auctions only for beginners. That day I won my first auction for a $15 gift card that I only paid $0.01 for. Amazing! I thought I would be able to win my beginner auctions, but little did I know that I was only allowed one beginner auction. Now I'm thinking I got tricked and that is how I felt for the rest of that day, but I decided I was not about to loss out on $60 and I had a fresh start the next day. That day I won three $10 gift card auctions. Although it was difficult, it wasn't as impossible as I expected.

Your Decision!

After reading this it is up to you to decide whether or not your up for the Quibids challenge. A good majority of people are skeptical at the start, but by the time they have loosened up and got a hang of things, they find it to their liking. So now it is up to you. Below I have posted a video to give you a little bit more information so you can be well informed. If you decide to go through with making a Quibids account and purchasing your first bidpack please use my referral link. Hope your up for the challenge.

Comments

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    • bmhairst profile imageAUTHOR

      bmhairst 

      6 years ago

      Thank you for the support and yeah you have to keep in mind that every bid is $0.60 because if you don't use your bids wisely you end up losing money.

    • Bretsuki profile image

      William Elliott 

      6 years ago from California USA

      Hello bmhearst, thanks for an informative hub. I particularly like that you describe the Quibids model for making money themselves.

      This site sounds very interesting and could be good value if one remembers to factor in the $0.60 per bid.

      Thanks Voted up and useful.

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