The problem that most auction sites face is that unless they are already large and in existence for some time, they tend to be seen with some suspicion. Quibids (www.quibids.com), for example, is usually the target of many online accusations, from “Is Quibids real?” to “Is Quibids.com a SCAM?”
It doesn’t help that many people can and do get frustrated when using auctions sites, since there can only be one winner for an auction, and it’s usually the person with the most resources and the best timing.
However, once you think about how penny auction sites work, you’ll see that it’s even simpler than the normal kind of auction site.
Bidding Fee Auctions
Penny auction sites are also known as bidding fee auction sites. This is because in penny auction sites like Quibids.com, you have to pay a bid fee for every bid you make – in Quibids’ case, 60 cents. A bid will then raise the price by 1 cent. If people think that this is outrageous (“Is Quibids for real?”) in this matter, then you couldn’t be more wrong. You can win up to a 95% discount on certain items like iPads and Xboxes, depending on how you bid, and who else is bidding for it. At 60 cents a bid for 1-cent increments, large discounted prices are definitely possible.
Capital
Quibids.com uses bidpacks, or an aggregated set of “bids,” such that you have a ready supply of 60-cent bids for use. Some people may hate this, since they have to buy the bidpacks, but it is realistically a better idea than having a transaction every time you have a bid. Bidpacks can also help you keep your budget under control, as you can decide that a specific bidpack can be your budget for the session, or budget for the week, even.
Time
For people who do not understand, the use of a countdown timer stands as the trigger for “Is Quibids.com a SCAM?” statements. These timers usually start in the tens of minutes, but as the bids come in, they get whittled down to seconds, with the ultimate being bidding battles with ten-second countdown timers. This sort of timer system is meant to create the bidding atmosphere that is missing if you don’t have a live auctioneer or a barker.
Going Automatic
The Bid-O-Matic system allows you to have automatic settings for bids, so you can keep the bidding going, even if you have to go to work or run an errand. You can set the bidding pattern, and, if you buy the right bidpack, you even have a form of bidding and self-control system, combined. In this way, www.quibids.com makes sure that you don’t have to drop out of an auction just because you have to step away from the computer.
Buying all the way
If you ever feel that you want to buy the item offered, no matter what, and if you have the budget for it anyway, then you can choose to buy the item outright while bidding is happening. In such a case, the amount of money that you’ve already used in bidding is removed from the full price.
So, is the site a scam? To be honest, it will only look like a scam, if you haven’t really figured out how to use the features correctly.
