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Monday, April 25, 2011


Ever wanted a chance to win the lottery?  Ever wanted to buy some gift cards for Christmas?  Ever wanted to buy something for cheap and sell it for 10 times the price you bought it?  If you answered YES to any of these questions, Quibids may be the thing for you.

A Chance to Win the Lottery
Quibids is really as they say, "redefined shopping".  Quibids is a penny auction site that lets you bid on items and win them for a very low cost.  Here's how it works.  Each bid costs 60 cents.  Every time you bid on an item, say an iPad, the cost of the iPad goes up by a penny.  A timer counts down to end the auction, but each time someone bids, the timer goes back up to 20 seconds or so (depending on the auction).  So say you bid on an iPad to make the cost of the iPad 1 cent.  The timer will go back up to 20 seconds and start counting down.  If someone else bids, making the cost go up to 2 cents, the timer goes back up to 20 seconds.  If no one bids over you and the timer reaches 0, you win the iPad for 1 cent (plus shipping/handling cost $12.99 and your $.60 bid).

A Chance to Buy it for Less
Quibids also has a Buy-it-now option where if you bid (real bids - explained later) in an auction, the bids used in that auction can be used towards purchasing the item.  So lets say you bid 100 times ($60) on an iPod Touch and lost.  The actual cost of the iPod on Quibids is $229.  So if you wanted to buy the iPod, you can buy it for $169 ($229 minus $60).  In other words, if you are already planning on buying an item, you get a chance to buy it for very cheap on Quibids.

How it All Works
Quibids makes 60 cents per bid.  So if say an iPod touch sells for $30, that's 3000 bids or $1,800.  Quibids makes a huge profit.  Then there are auctions where a $250 gift card can sell for $.50 or $30.  So in the end as they state on their website, they make a 10-15% profit on average.

In an auction you can have real bids and voucher bids.  Real bids are bids that you purchase while voucher bids are bids that you can win in an auction.  Only real bids can be used towards purchasing an item.

Quibids has two types of bidding methods.  A Single bid is a bid that you press the "Bid" button and bid once.  Bid-o-matic is an automatic bidding option where you can specify what price to start bidding at and for how many bids (max 25).  Bid-o-matic will bid for you whenever you are not currently winning the auction.

Redefined Shopping
I have tried this out and I am not a good auction bidder.  I have won 2 auctions so far and lost many.  On the other hand I personally know someone who, in the same time span, has won several gift cards, a video camera, a digital camera, and sunglasses.  If you are good at following bidding strategies like those found on youtube (search for "Quibids") you can make a good profit by getting items for very cheap and selling them.  However, if you're like me and suck at bidding, you can use this site whenever you want to purchase something and get a chance to get it for less.  You pay the full price of the item you want whether you lose on Quibids or buy it from somewhere like Amazon.

Quibids offers many chances to get free bid vouchers through "Achievements", daily twitter contests, and referrals.  They range anywhere from 1 to 50 bids at a time.  Everyone likes free bids, these are the ways you can get them:

  • Achievements can be won by doing specific things like winning an auction, using bid-o-matic, or by spending so much money.  
  • The twitter contests are usually held in the morning and they ask questions like "what is your favorite Quibids tip?".  They choose the best answer and reward the winner with 50 bids.   
  • For the referrals, if you get a friend to sign up under your link, you get 25 bid vouchers after your friend buys the initial $60 bid pack (100 bids).
Many people say Quibids is a scam.  I for one think that their business is too profitable to be a scam.  Why would a company which can legitimately make money and earn customer loyalty try to scam people out of a quick buck?  They can be bidding on their own auctions to raise the price, but with so many people bidding, they don't need to.  With so many auctions going for well below a price for them to make a profit, they aren't doing a good job at raising the price either.  The bottom line is that I got all the items I expected to get at the price I expected to pay.  Check out Quibids for yourself.

1000 Free bids

Be careful on scams that promise you free bids for signing up under their referral link.  They make promises of sending you a code for 1000 free bids, or show you the website in a video to convince you that you too can have unlimited bids.  Do not trust them.  These videos are of an altered website where their bid count is increased.  If you sign up under them all that happens is you will grant that person their 25 bid referral reward from Quibids.  You will get nothing but disappointment in return.

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