QuiBids Makes Cents

"QuiBids users all over the nation are saving hundreds of dollars while shopping online..."

CONSUMER NEWS REPORTER

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eBay Losing Users

"Former eBay users are turning to QuiBids for much bigger savings..."


Penny Auction Website QuiBids.com Saves Consumers up to 95% off Retail

As part of a new series: "How to Save Big Bucks when Shopping Online"



Julie's our Consumer Tips Investigator Reporting on New Shopping Trends

H ave you ever heard of "Penny Auctions"? If you haven't, but you're the type always looking for bargains and amazing deals, then you're in luck! Penny auctions are a new auction model that are rapidly becoming very popular in the US and Europe. Penny auctions allow individuals to do just what it implies, win popular products for pennies on the dollar. Leading the way in this new auction model is QuiBids.com, an Oklahoma based company. QuiBids auctions off brand new popular products such as iPads, Macbooks, HDTVs, Digital Cameras, Gaming Consoles, and more for steep discounts of 75%, 80%, or even 85% off retail price.

Sounds too good to be true right? Surprisingly, it's not. See, QuiBids isn't run like your typical auction. Along with people snagging great deals at a fraction of the product's cost is the fact that users pay to participate in these auctions. Each bid placed on QuiBids costs users $0.60. By collecting $0.60 for each bid placed, QuiBids is able to afford giving away products on the cheap such as Macbooks for $23.72 or Nikon Digital Cameras for $57.42.

Why QuiBids is Gaining Popularity

"In a poor economy, it's no surprise why Americans are out to get a great deal, and users of the website are winning products that they wouldn't normally be able to afford. QuiBids' popularity seems to be growing by the day. This is mostly due to QuiBids users recommending this site to friends, colleagues, and loved ones to win great deals. " says Matt Beckham, QuiBids CEO.

We took the time to talk with a few of QuiBids customers to see exactly what their thoughts are on this new and trendy auction model. One QuiBids' customer, Cyril Bennett, had this to say about QuiBids and winning one of their auctions:

man with TV"As I was bidding, my roommate was asking me how the auction was going. At that moment, gazing at the screen, I watched as the timer read "3... 2... 1... SOLD!" and I won this VIZIO 32" HDTV for $2.60. Answering his question, I did some awesome air kicks to liberate the adrenaline that was pumping through me. True story. Oh and I recently had won a 120 GB Playstation 3 that was generously upgraded to a 250 GB model. I've really enjoyed using QuiBids...it's kind of awesome!" -Cyril B. / Arizona

 

How Does QuiBids Work?

QuiBids works by utilizing their state of the art "Penny Auction" model. Users pay just $0.60 to place a bid in an auction.  Each time a user bids, time is added to the clock so that other users may decide whether they would like to continue bidding or not.  If you are the last person to bid when the clock runs out, you win!

What this revolutionary auction model offers, that no other website has, are the huge savings! Users save an average of 75% off retail when using QuiBids! Users have been able to snag amazing deals, such as an Apple Macbook Pro for $23.90, a Nikon D90 Camera for $45.84, and Sony Playstation 3 for $12.32!

But what puts QuiBids.com head and shoulders above the rest? Their "Buy It Now" option! If users participate in an auction that they do not win, they may choose to use the "Buy It Now" option so that all of the bids that they spent can go towards buying the item at regular retail price! That's why QuiBids has become so popular. There's no reason not use to it to save!

"QuiBids isn't your typical auction website. Where eBay users can usually save 5-15% off retail through their online auctions, we save our users an amazing 75-80% on average! The catch is, every time a user bids, it costs them $0.60. This allows us to be able to sell popular products like Digital Cameras, HDTVs, Laptops, and more for pennies on the dollar." - Matt Beckham - QuiBids CEO

The End of Shopping Around?

There is no longer a need to spend several hours online looking to see
where the best deal is. The answer is simple. It's on QuiBids!
Whereas scouring the internet for to save an extra 5% works for some
people, why waste your time when you could save 75%! QuiBids is so much more than economical. It's entertaining too! Their
users rave about the rush they get when bidding in a highly
competitive auction! And with the potential to save as much as people
do on QuiBids, you can see why!

If you are a frugal spender who wants to save some serious cash, then
you will be pleased with QuiBids. We see QuiBids as a monumental
step towards bringing users savings of which they've only dreamed!
And in this type of economy, the average American can't afford not to use any means necessary to save as much as possible.

An In-depth Explanation of How QuiBids Works

As we already mentioned, QuiBids.com isn't your typical auction site. Users, on average, save 75-80% off retail for brand new products they win, but pay $0.60 for each bid they place. The process of participating in QuiBids auctions is fairly straight forward. We've outlined it below:

  1. Register and Purchase bids by buying a bid pack.
  2. Choose which auction you want to participate in.
  3. Bid on the product you want to win and save!

But if you're like me, you're probably wondering, "What if I spend money on bids, but don't win the auction?" Seems like you could lose money in pursuit of a great deal, but end up with nothing right? Not exactly...

QuiBids' "Buy it Now"

One of QuiBids' best features is their "Buy it Now". The QuiBids "Buy it Now" allows users to apply the money they spent bidding on a product towards the "Buy it Now" price if they don't win. For example, let's say a user bids 50 times on a $50 Best Buy gift card, but doesn't win the auction. That user spent $30 on bids placed (50 bids x $0.60/bid). To exercise the “Buy It Now” option, the user would subtract the $30 spent on bids for the item from its $50 value price, paying the $20 difference. That way, even though they didn't win, all bids placed on the QuiBids auction count as credit towards buying the product.
If you're looking for a deal, QuiBids and other penny auction websites, might be the best way to snag an amazing bargain these days.

 

  

QuiBids In The News

Cyril form Arizona had recently joined QuiBids. Amazed by this new and exciting auction, he quickly jumped in on the action. "As I was bidding, my roommate was asking me how the auction was going. At that moment, gazing at the screen, I watched as the timer read "3... 2... 1... SOLD!" and I won this VIZIO 32" HDTV for $2.60. " There are countless stories just like Cyrli's. Here are some more stories just like his. Try QuiBids today!

Consumer Reviews:

1"I was skeptical when I first heard about QuiBids. I won my first item, a Sony Flip Camcorder, several days after signing up. I received the camcorder four days later and I love it! What a GREAT site! Thanks."
- Jennifer / Florida


2"I won a new PS3 for $86.74 from QuiBids. It's a new and exciting way to shop and save! I've never seen anything else like it Thanks again!"
- Michael / California


3"Like many others I was skeptical at first too, but after I decided to start bidding, I soon started winning. When the first item I won finally came in the mail within two days of winning it, I was hooked!! Not only does QuiBids have cool stuff, but it's actually FUN to bid too. I continued my "QuiBids journey" and ended up winning this awesome Olympus Tough 8000 camera. Did I mention it's WATERPROOF? It's awesome! Thanks QuiBids!"
-Shaun / Virginia

4"I called customer support and was amazed. I wish I would have asked the gentleman's name who helped me. He was so courteous and helpful. I am seriously amazed. You guys are fantastic. I posted on my Facebook page that anyone with an interest in bidding websites should go to QuiBids. Thank you for being so helpful and honest."
- Leslie / Arizona





Comments (14 out of 173)

Read Responses:
Sissydad says: Wed Aug 18, 2010 9:50 AM
What determines when an auction ends? It seems like the timer is reset back to 10 seconds as people continue to bid, then suddenly the auction is over and the item is SOLD even though people are still bidding, right!? So, at some point, does the auction just end regardless of whether bids are still be entered? Thanks.
Jill@QuiBids says: Wed Aug 18, 2010 6:33 PM
The timer is reset each time a person bids, therefore, an auction ends when no one else bids. It never ends when people are still bidding. We want everyone to have a fair chance.
Mikey says: Wed Aug 18, 2010 8:54 PM
Thanks for the info. I just got registered and I already won my first auction!
Jill@QuiBids says: Fri Aug 20, 2010 2:24 PM
Congratulations! Isn't winning fun?!
Cathy says: Fri Aug 20, 2010 3:16 PM
are the items we purchase brand new? open box items? refurbished items? If defective, can they be returned to the manufacturer under warranty?
Jill@QuiBids says: Fri Aug 20, 2010 6:05 PM
All products we purchase should be new and factory sealed. If you ever get a defective item, let us know immediately and we'll work out the issue - new product or a refund.
Damo says: Sat Aug 21, 2010 09:15 AM
I still do not understand payment. If I win the bid, do I owe anything else?
Jill@QuiBids says: Tue Aug 24, 2010 3:38 PM
If you win the auction, you then pay that ending price, plus any shipping.
Steve says: Thu Aug 26, 2010 11:58 AM
What's the formula for the final cost of an item?
Jill@QuiBids says: Thu Aug 26, 2010 12:02 PM
You can look at it this way: Say you are going for a $200 item. You place 20 bids ($12) and the ending auction price is $25. You then have spent $37 for a $200 item, plus whatever the shipping cost. Shipping just varies per product/vendor.
A.C. says: Thu Aug 26, 2010 12:08 PM
So, if I bid when the timer says 08 seconds left, and no one else bids before the timer reaches 00, then I win the bid? I mean there is no minimum number of seconds for your bid to be listed before the biding ends?
Jill@QuiBids says: Fri Aug 27, 2010 12:13 PM
If you bid and no one else does, then yes, you've won the auction. Everyone has the same/fair chance to bid. So if they all just choose to not bid, then that works in your favor.
Tiffany says: Fri Aug 27, 2010 12:28 PM
Is this only a live Auction site or can you bid like you would on eBay?
Jill@QuiBids says: Sun Aug 29, 2010 12:52 PM
We are a live auction site. Feel free to check out the Help, New to QuiBids, section for a full breakdown of how we work. Our bidding process is quite different than that of eBay.

Please Send Any all Questions to Support@QuiBids.com