Asked by: Xiaolei Sachsze
television holiday tv

How is QuiBids still in business?

Last Updated: 6th May, 2020

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In November 2013, QuiBids officially re-branded itself as an entertainment retail auction site, selling products such as consumer electronics, home and garden products, apparel and jewelry. In 2015, they launched a Locked Auction Feature to try to improve their users' chances of winning.

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Just so, is QuiBids a legit site?

However, at QuiBids.com, you must purchase each 1 cent bid for 60 cents. So an iPad that retails for $499 but was won for the grand total of 2,254 one cent bids (or $22.54) which actually cost 60 cents each means that the iPad just sold for $1352.40.

Secondly, do Penny Auctions actually work? In a penny auction, the site owner posts items and you pay to bid for them. Unlike a traditional auction, where only the winner pays, penny auctions require you to pay before – and as – you bid, win or lose. Additional bids cost more money, often between 50 cents and a dollar per bid.

One may also ask, what is QuiBids and how does it work?

Bids cost just $0.40 and can be purchased in bid packs at the Bid Store or in the QBar. Each time you place a bid; it will be deducted from your remaining bids, and will increase the price of the auction by one cent. . No more than 20 seconds is added to the timer whenever a bid is placed.

What is the best auction site?

Top 10 Best Auction Sites

  • Listia.
  • Ubid.
  • Bonanza.
  • OnlineAuction.com.
  • Atomic Mall.
  • Ebid.
  • Liquidation. This online auction site specializes in large lots of bulk items in a wide variety of different product categories.
  • Ebay. C'mon, don't look at us like you're surprised.

Related Question Answers

Anay Scheuplein

Professional

What is a penny auction site?

Put simply, penny auctions are websites where customers cast non-refundable bids in auctions which increase the final auction price by a small, set increment. The last person to have bid when the timer expires wins the right to purchase the product, which is typically priced much lower than its retail price.

Winnie Ortmans

Professional

What is the best penny auction site?

The Top 20 Penny Auction Websites Online
  • QuiBids. QuiBids is a popular penny auction site with a variety of fun and useful features.
  • Beezid. Beezid is an auction site that offers all new products with a starting bid of zero.
  • Happy BidDay.
  • Deal Dash.
  • OrangeBidz.
  • MadBid.
  • Penny Auctions Canada.
  • WellBid.

Kilyan Mitterpleininger

Explainer

Does TopHatter charge for bids?

TopHatter Auction Features
Free-to-Bid Auctions: All auctions are free to bid. You only pay when you win plus a shipping fee.

Kremena Ibar

Explainer

How much does DealDash really cost?

Here's how penny auction sites typically work: Before you can begin bidding, you have to register and buy a package of “bids,” ranging from 50 cents to $1 per bid (the bid prices vary from site to site). At DealDash, you can buy a pack of as few as 60 bids, or as many as 1,000, for 60 cents each.

Enedino Grothoff

Explainer

How do you get your money back from DealDash?

To qualify for a refund, users must email [email protected]dealdash.com within 90 days of purchase and request for the refund. The refund will be credited back to you in 7 business days. The refund will be granted regardless of if you have won or lost auctions, or whether you have Bids left on your account or not.

Irian Mattias

Pundit

Is DealDash a ripoff?

DealDash does not disclose how many prepaid bids its “winners” spend on an item, Pstikyan says, though it's often more than the item is worth. Thus, when a consumer loses a DealDash 'auction,' the House wins. When a consumer wins a DealDash 'auction,' the House wins. Even 'winning' consumers unwittingly lose.”

Pearline Garroberea

Pundit

What's the catch with DealDash?

You can get your Bids back if you don't win
On DealDash, bidders that don't win the auction, can buy the same item for its Buy it Now price using the Buy it Now feature, and get all the bids they used back for free. When you use the Buy it Now on DealDash, you always get all your bids back for free.

Arkaitz Parrot

Pundit

Is DealDash com a ripoff?

As you can see, these auctions are a huge money-maker for DealDash even if every item sold at auction brings just a small fraction of its actual worth. Bottom line: As they claim in their commercials, DealDash.com really is “a fair and honest auction” site and not a scam.

Fuentes Pochitalin

Pundit

Is DealDash a good deal?

I can assure you that DealDash is 100% legitimate and all of our bidders are real people just like you trying to get a great deal. Although we couldn't locate any contact from you, we are happy to extend our First Bid Pack Purchase Money Back Guarantee to you.

Elijah Keun

Pundit

What do you do in a silent auction?

During a silent auction, bids are written on a sheet of paper that is commonly placed before or next to the item. At the predetermined end of the auction, the highest listed bidder wins the item. This auction is often used in charity events, with many items auctioned simultaneously and "closed" at a common finish time.

Amarilis Miota

Teacher

Are Penny Auctions legal?

Frequently, however, a bidder expends all his or her bids without winning the item. Although some penny auction sites charge subscription fees, the main source of revenue for penny auction site owners is the sale of bids. At present the operation of a penny auction website in the United States is legal.

Rosauro Tulaikin

Teacher

What is a penny raffle?

A Penny Social is a benefit auction with a raffle twist. You buy 2-part tickets at the door and use them to bid on items that you like. That's the auction. Your tickets and everyone else's are put in a basket and the winning ticket is pulled out at random.

Leer Papenkordt

Teacher

How does eGunner penny auctions work?

How does an eGunner penny auction work? First you have to register by creating an account and buy bids. When you buy bids, the price per bid will depend on which bid package you choose. The smaller bid packages are 75 cents per bid and the largest bid packages are 65 cents per bid.

Karri Batista

Teacher

How do online auction bids work?

On the surface, an online auction is similar to a traditional auction. You bid against others for an item. When you enter an auction to place a bid, the site's computers determine the amount you need to bid in order to become the highest bidder. You can accept this amount or enter your own bid.