OT: QuiBids - Online Auction Site

[Wilkinson4]

Has anybody fallen into this trap??? Well, a trap we set for ourselves anyway:) It is an interesting concept but it really sets the stage for competitive bidding. Much more than E-Bay.

http://www.quibids.com/en/

In a nutshell. All items listed are new. You buy bids and then you can use each bid for a penny increase on the item. When you start you buy 100 bids for $60.

So, if you are really lucky you can get something for 1 bid or 60 cents. But, the catch is with every new bid the clock adds 10 seconds to the auction.

An item that sells for $10 really sold for $16 based on all combined bids. It can really seem like you are ahead but you have to really understand your bids.

I won a $40.00 remote control helicopter last night for 1 bid and no shipping costs… At checkout they just gave it to me for free since it was only 1 bid.

But, I wasted about $30 worth of bids trying to get some sunglasses. I think if you are a really disciplined person and commit to the bidding up to 1/2 the retail costs you could come out ahead…

It's interesting watching the bids though. I'll give em that. Not sure I'll try it again, it is too dangerous.!

mIKE

[Louis]

So you can bid on something, not win it, and still have to pay $$?

Hmmmm.

[Wilkinson4]

Yup… Or, you could bid a few times and save a lot of money. But, it's much like gambling. The house always wins! I was bored and thought I could out smart it or other bidders. No chance. But, if you go in with the idea of saving %50 you may have a fighting chance at it.

But, it is just too dangerous. I gave it a go and learned my lesson:(

mIKE

[cinema]

it's a scam.

[Wilkinson4]

Maybe. Just watching the bids it makes be wonder how much shill bidding is going on and I was seriously wondering if some of the auctions were fake.

I'll see when or if I get my free r/c toy… But, total spend exceeds toy value so at the end of the day its a no win.

mIKE