Does QuiBids Scam People?
QuiBids On The Web:Website URL: www.quibids.com
Facebook URL: www.facebook.com/quibids
Twitter URL: www.twitter.com/#!/QuiBids
The Breakdown - Company Highlights
QuiBids is a popular auction site that operates under the model of penny auctions. In this type of auction, members of the site can buy “bids.” Each bid costs, and is worth, 60 cents. You use these to bid on the item that you’re looking to buy. If you win, you’ve paid the winning price, plus 60 cents multiplied by the number of bids that you used. The major difference is that once the auction is over, you’re given the chance to buy the item at the retail price, minus the value of the bids that you used bidding.
This gives you an opportunity to save money on the item, instead of wasting your bids on an item you can’t get. With other auction sites, once you’ve lost the auction, that’s the end of the story. With QuiBids, that’s not the case. Of course, this is probably how they can afford to offer what are occasionally ridiculous discounts on very high ticket merchandise.
This is outside of our typical content, as it’s not offered as a home business, they’re not really going to teach you anything and they’re only offering you retail items at a potential discount. However, it would be quite easy, if you got good at winning the auctions and getting the discounts, to make a viable and profitable home based business out of it. By simply turning around and offering the items that you’ve bought at a discount on another site, such as eBay, you can manage to turn this into a rather profitable endeavor.
QuiBids Pricing, Fees, Bonuses And Guarantees
There is absolutely no membership fee to join QuiBids. The only costs associated with the website are the cost of the bids (60 cents each), and the price you pay for any merchandise that you buy or win. There do not appear to be hidden fees or up-sells of any kind. The guarantees offered will be specific to each product, due to the nature of the site.
About The Founders
Unfortunately, we were unable to track down any information about the founders of QuiBids, how they got the idea, or their company vision.
QuiBids is a popular penny auction site with only one or two major competitors.
You see their ads on TV all the time, and you ask yourself how it can be true. Their business model makes them very profitable, and seemingly a very fair system, allowing customers to get their money’s worth out of the bids they place, by offering them the full amount of the bids in credit on the retail price of items that they lose. While this is not offered as a business opportunity, successful bidders could easily make one out of it.
Bids cost 60 cents each, and you’ll pay either the amount of the bid that you win on, or the retail price minus the value of your bids in order to get the items.
Are you familiar with QuiBids or other auction sites? Please share your thoughts with our readers!