Quibids

[Mavric]

Anyone use this site much? I've heard about it for awhile but never used it. I'm half-looking for a couple things and it caught my eye today so I've been looking around some tonight.

I can definitely see how they make their profit. WOW!

 

[Lyons in the Sea of Red.]

Havent used the site, but if you read the terms and conditions you can tell how they make money pretty easily. For the higher priced items, they let the auction go longer than lower items. So for computers, for instance, the average number of bids by the winning bidder is 296. times 60 cents a bid, if 5 other people were bidding, 295, 294, 293, 291, 290, theoretically, the winning bidder will pay around 18 dollars for the item, after spending $180 on bidding for it. If there were 5 other bidders who reached near that many bids, Quibids gets +1055 for the item. Pretty good business model. Wish I would have thought of it.

 

[jsneb83]

Yeah, I think I gave one of them a try because they gave you like 25 free bids, so I figured I would give it a try until I ran out of my bids. I didn't even end up using them all before I got tired of it, but yeah it's like 60 cents per bid or something. So I figured it out that when they claim that a $500 TV selling for like 25 bucks which is 2500 bids. So 2500x0.6=$1500 for a $500 TV.