Price: $27.00 to start bidding
Owners: Matt Beckham and Shaun Tilford
Overall Rank: 5.5 out of 10
QuiBids, Product Overview
Is QuiBids a scam? What is QuiBids? Deals are to be had here…but caution must be used with knowledge to gain the upper hand at these crafty auction sites. Continue to read my review of QuiBids and learn a little about the controversial penny auctions company and its interesting practices. To determine if this company is on the up and up and worth your time and more importantly your precious money. Maybe even help you learn to effectively use the QuiBids site and retain more of your hard-earned money.
QuiBids is an American online retailer and penny auction site. Yay!, America. It is based out of Oklahoma City, Oklahoma. It was founded by Matt Beckham and Shaun Tilford back in 2009. The name “QuiBids” is a combination of two words, “quick” and “bids.” With all penny auctions their many complaints and people claiming that QuiBids is a scam. I believe a majority of complaints come from the confusion that surrounds penny auctions because they are different than the century-old standard auctions. So it easy to understand why people always ask, “Is QuiBids a scam?”
QuiBids Video Explained by Ultra Happy Women below. Enjoy!
In order to quell concerns, because the government was looking at them, huh, QuiBids launched in 2015 a new QuiBids feature that they call “Locked Auction.” It worked, and government left them alone. More on Locked Auction later in the article. QuiBids is the behemoth in the online world of penny auction, it is the biggest company in penny auction market, but it is also a lot smaller than the giant, eBay. Some of QuiBids competitors are Beezid, HappyBidDay, DealDash, and BidFun.com and many more.
Penny Auctions Explained
Took me a while to figure it out myself, along with some head scratching. For those not familiar with penny auctions, let me quickly explain what a penny auction is. Penny auctions are uniquely different than if you ever used eBay in the past or gone to a real auction in the flesh or just had to listen to the John Michael Montgomery song “Sold.” A penny auction is also called a “Bidding Fee Auction.” Penny auctions are where bidders use a pay-per-bid, so every time you bid, you pay the host site money. You Bid, You Pay! It costs you money to bid, with no guarantee of winning anything!!! It’s different, I told you…
Also every time a bid is placed, the time resets, time resets are different for every penny auction company. The person that wins the bid is the last one to place a bid before the time runs out. In order to place bids, bids must first be purchased, usually in bid packs.
How to Purchase Bids
To purchase bid packs at QuiBids, you must first register and set up an account. Then click the “Buy Bids” tab at the top of the screen. The first bid pack you purchase is set at a fixed price, but after the first purchase, they offer five different bid packs. I think maybe the first purchase is controlled to help the beginner not to overspend while learning the ropes at QuiBids. Their five bid packs are Mini, Small, Large, Premium, and Ultimate.
The nice and refreshing thing about their cost-per bid is the same amount for any and all Bid Packs you might buy, but also this has a few drawbacks too. For each bid, you receive you will pay the same amount for it. That is .60 cents per bid placed. You can check yourself by dividing the purchase price buy the bids you will receive and come up with .60 cents. I think you’ll find throughout their site, an honesty structured within the details to help instead of undermining users of their site. Yeah, I love honesty.
A key point to remember, every time you place a bid at QuiBids, you are spending .60 cents!!! Even though you the auction price only goes up .01 cent. You also pay the final bid amount for the product if you are the winner of that auction, whatever the final bid was.
Some other penny auction sites pay-per bid amounts are as high as .90 cents per bid for the lowest amount of money spent. But they also have a little more reward for purchasing bids in large numbers, like .55 cents per bid for a $550.00 amount. I think QuiBids has a more honest approach to this, as not sticking it to the newbie, who wants try it out but retains the same buying power as larger bid purchases.
The Good & The Bad
- The number one good thing about this company is its transparency. Throughout, the entire site, they offer training, strategies, videos, and tips. A good place to start is QuiBids 101.
- Bid-O-Matic, don’t want to sit around and bid, well just enter in starting price and the number of bids your willing to commit to. Then it does all the bidding for you. Nice feature! I hate sticking around.
- Locked Auction – It is a way of limiting competition for a particular auction. Basically, they lock out other bidders after a certain amount of time has passed and only bidders that have participated in the auction up in til that point are allowed to continue bidding. Which also helps keep the auction shorter in time. When it locks down, it’s random, keeping it interesting.
- A feature I enjoy is when you click on an auction it takes you to the auction page, where it shows you what the product retails for. Thereby giving you an idea how much you want to spend. Transparency!
- Products for you to bid on, from Ray Ban sunglasses to Apple MacBooks. Brand names!
- Amazing Customer Service! Quick responses and very helpful.
- Ability to earn badges from using QuiBids. Badges give you free bids to use. Customer loyalties program.
- Free Shipping on EVERYTHING! Yes…everything.
- Earn Free Bids by purchasing a product from Quibids Store.
- Ability to play games and also earn free bids.
- In good standing with Better Business Bureau and is Accredited with them.
- Can be confusing and misleading to new users, as all penny auctions are. Learning curve. Also, the number one reason people call this a scam, they didn’t take the time to understand it. I’m guilty of it too.
- You can lose money very easily if you don’t know what you’re doing and with nothing to show for it.
- Takes a period of time to learn and then get a little experience under your belt.
- Each bid you place is .60 cents, not .01 penny. Can be confusing for some people. Didn’t I say this already? Yep!
- QuiBids is making enormous profits off of people. Say a MacBook Pro retails for $1099.00 and it sells for $140.39. I pulled $140.39 off QuiBids recent auction winners tab, the highest one I saw. So it takes 14,039 bids at .01 cent increments to reach $140.39 auction price. Each bid is worth .60 cents. So .60 X 14,039 = A WHOPPING $8,423.40 PROFIT for QuiBids minus whatever price they paid for the MacBook! Then you add the additional $140.39 for a grand total of $8,563.79. Holy Shite!
- Products not as many high priced items as I have seen on competitors sites.
- Time wasted, watching and bidding on items. Auctions can run for days.
- More people lose money (by not winning an auction) than win an auction.
- When signing up and creating an account, they ask for your credit card they supposedly automatically charge you $60.00. Numerous complaints on the internet about this.
- Lots of people have to lose money in order for ONE person to get a great deal!
Who is QuiBids For?
QuiBids is for someone sharp, and well read on penny auctions. Someone willing to take chances on getting a good deal for merchandise, while implementing good sound strategic bids. It is a must to know how these types of auctions work and take advantage of them, instead of the other way around.
Hell, I am one who can speak from experience. I saw their commercial like two years ago and thought I would give this a try. I can do this, I have sold things on eBay for years, I can do this. Yes…without any knowledge of penny auctions. And had nothing to show for my troubles but a slimmer wallet. Me and my fool’s money parted ways. I thought, “this fucking sucks.” Let’s be honest. My immediate thought was this is a scam. But, I just went into this arena blind.
I wonder how many new people to penny auctions wasted their money bidding on auctions, not knowing what they were doing. I could imagine A LOT. So, peruse their website, they have a lot of helpful information that is designed to getting you winning bids, like QuiBids 101.
QuiBids Tools & Training
QuiBids is quite impressive when it comes to informing the customer. Transparency! Helpfulness is laid out everywhere. I understand why they are the biggest penny auction site on the internet. For example, on the product page they give you the retail price of the item, they also have reviews of the product, and a very useful tool is looking at Recent Auction Winners for that specific product with the end price shown, bids spent, total paid and savings in percentages, all under the Statistics tab.
Also as mention above, their QuiBids 101 tab has boatloads of helpful information, that one page should definitely be read before ever placing a bid.
As I researched this company, the Support at QuiBids gets great reviews. Quick, responsive and took the appropriate actions to help and righted the wrongs. They also have a chat service where you convey your problems or questions and also email support.
So in a nutshell, you pay .60 cents per bid regardless of what bid pack you buy.
The bid packs are:
- 45 Bids for $27.00 |
- 75 Bids for $45.00 |
- 300 Bids for $180.00 } All Bid Pack cost you .60 cents per bid.
- 600 Bids for $360.00 |
- 800 Bids for $480.00 |
My Final Opinion of QuiBids
Is QuiBids a scam? QuiBids appears to some people to be a scam, but QuiBids is not a scam. The whole penny auction scene is ripe with misunderstanding, naturally confusing to most people, and somewhat misleading to a lot of people. If QuiBids were a scam, they wouldn’t be so transparent. By transparent I mean, they clearly try to help the new customer and patrons to learn and to use their site to their own benefit.
The shady part of all penny auction sites is the amount of money they pull in. I don’t know how they sleep at night but also their not holding a gun to anyone’s head either. So be informed and research, protecting your money. I would suggest other ways of getting merchandise for cheap rather than using a penny auction site, just my two cent-a-renos. But deals are to be readily had here…with experience and patience.
QuiBids at a Glance…
Owners: Matt Beckham and Shaun Tilford
Overall Scam Rank: 5.5 out of 10
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If you had any GOOD of BAD experiences using QuiBids, please feel free to comment below. Would love to hear war stories or praise about QuiBids. Or if you just have questions or comments do so below. I would love to hear and learn from you.