anyone ever used this site?

[Apollo Trinidad]

http://www.quibids.com/

Have been seeing this advertising on cable frequently, has anyone from the forum ever used this site to purchase stuff?

[Kiro_lee]

U can lose a lot of money with those sites. Every time you bid you pay that amount whether you win or not so you need serious luck on your side to give the final winning bid and that almost never happens because the site has bots set up to bid over you every time you bid. Good money making scheme though.

[iDynamic]

just saw a brand new bess samsung cell phone sold for $1

I call bs

[original_lollybob]

http://www.businessinsider.com/how-to-w ... way-2011-4

[Captainzaak]

Interesting concept, but you'll lose a lot of money. Every time someone bids and the clock is under 20secs, the counter goes back to 20secs.

Hard to win, looks worst than a casino

[S_2NR]

i will never use sheit like that..ever!

at the end of d day..you get what u pay for.

[Apollo Trinidad]

^^ thanks...lookd weird at first...this guy said he got a MACBOOK for $130something...lol crazy!

[gastly369]

Quibids.com is the largest penny auction website currently operating in the United States. Penny auctions have been around for awhile, but have only recently gotten lots of attention from people outside of the penny auction community.

Penny auction websites attract people to them by promising expensive, big ticket items at unbelievably low prices – for example, Quibids shows a new iPad, which retails at $499 for the most basic model, selling for $22.54. But this winning bid of $22.54 is misleading. This isn’t the truth of how much it costs to win that iPad.

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.

reviewopedia

[guiness]

U can lose a lot of money with those sites. Every time you bid you pay that amount whether you win or not so you need serious luck on your side to give the final winning bid and that almost never happens because the site has bots set up to bid over you every time you bid. Good money making scheme though.

agree. I used it with a coupon for 10 free bids. They make money when you buy bids. So as expected I used all my free bids then was prompted to buy more bids quick to win. So if 2 people bid $100 each then the site collects $200 for lets say a $150 item. one person saves a $50 but the other just lost $100. and as KLN says the bots are snipers.

[Apollo Trinidad]

^^ nice info there

[DTAC]

Judging by the overwhelming numbers of gift cards being offered it seems like the site is preying on the weakness of people addicted to things like gambling, auction sites, and couponing.

Bordering on a scam calling it self entertainment. But seeing money is changing hands it's more like gambling. Even the disclaimer says you are likely to lose money. An auction site telling you that you may well lose money??? Very very close to a scam. Best avoided.

[Stephon.]

I agree with DTAC, it is bordering on a scam, but at the same time all of the rules areout there for you. It's just up to the bidder to play the game to win.

Buy 100 bids, then look at the trends on buying a TV - Look at the price they're going for when they're sold and wait until the countdown reaches the last second and vote. Someone else may vote on top of you but you can vote again, the thing is the higher the price gets, the chances are the other voters will give up; I think the fact that you have to pay to place a bid though is bad, I probably won't ever use it. I rather get my 20% discount from eBay yes.

[JoKeR1980]

Came across this....www.ubid.com