QuiBids

[Laughing_Gnome_Invisible]

I have no idea. Beezid advertises with Sirius, and I've had friends e-mail me links. I'm guessing a year or two.

Either way, American genius at it's best. This is the kind of thing to keep the money in circulation.


Edit: there goes another ipad for 98c plus $16 shipping.

 

[Laughing_Gnome_Invisible]

I've yet to bid, though I've been tempted. Seems a bit like the internet's shell game to me.

I think that sums it up the closest, but it's not quite a shell game. It's a game of skill, and they say as much (More or less) on the help page.

I think they should have advertised this site better by saying it is what it is rather than presenting it as an auction site.

 

[Yuri_Rage]

The format has apparently been around for a long time. A brief bit of Googling reveals that penny auctions were likely first popularized during the Great Depression as a means to avoid foreclosure. Other names for the format include "all-pay auction" and "bidding fee auction." Look up Shubik's "dollar auction" for a bit of rationale as to why the format may be quite successful.

A bit more Googling shows that there are likely hundreds of sites attempting to become successful with bidding fee auctions. It also shows that there are a fair amount of scams mimicking the idea. Be careful with your money and emotions if you decide to get involved.

 

[Laughing_Gnome_Invisible]

The format has apparently been around for a long time. A brief bit of Googling reveals that penny auctions were likely first popularized during the Great Depression as a means to avoid foreclosure. Other names for the format include "all-pay auction" and "bidding fee auction." Look up Shubik's "dollar auction" for a bit of rationale as to why the format may be quite successful.

A bit more Googling shows that there are likely hundreds of sites attempting to become successful with bidding fee auctions. It also shows that there are a fair amount of scams mimicking the idea. Be careful with your money and emotions if you decide to get involved.

I think "Emotions" is the key word there. This is where they make the cash. This is also the reason that I have not used this site yet. I know and understand that my emotions are a train wreck waiting to happen! :fro:

Also, it just goes to show there is nothing new under the sun. Thanks Yuri!

 

[JNye]

I just read a blog with all the tips about this site. I would highly recommend doing that. I'll look for the link. Basically its legit. I'm not sure it should be legal, but if you prepare yourself you'll do fine. #1 rule I took away, only bid on things you actually want and will pay full price for. That ways you minimize your risk in a big way.
They offer a Buy It Now option on most items. If you expend too many bids, or are running out of time, you can use all you "used" bids real value to buy it now at retail. This means you don't lose the money you spent on bids.
There are voucher bids which cannot be used for buy it now so they have less value. Do your homework and you might get a good deal by having some uninformed gamblers pay for your Ipad.

 

[JNye]

here's the blog I read. http://quibidsblog.blogspot.com/2010/06/quibids-strategy-1-volunteers-dilemma.html read em all, some good tips here. In the end it doesn't look like something I want to do, you're going to spend ALOT of time staring at a timer. I can afford stuff without risking losing more.

 

[HVBrewtality]

Well... decided to just give it a try. Won two autions each for 15 dollar Home Depot gift cards. Paid 60 cents for each, plus 2 bucks S&H. If they come and work, I'll give the rest a try. I agree with what JNye said. I think the key is to not try and get into anything you are not prepared to pay full price for. Also, don't let emotion make you keep bidding. In just watching these I saw some bid wars that seemed to just be out of spite.

 

[pickles]

a coworker of mine has been trying to get an Ipad for about a month. Last week he said he was in about $120 and still hasn't won one. He said that he will occasionally get outbid by an Administrator.

 

[FromZwolle]

I have no idea. Beezid advertises with Sirius, and I've had friends e-mail me links. I'm guessing a year or two.

i can't recall the name, but i came across one of these type of sites about 5-6 years ago. i used up all my free bids and "someone" outbid me about half a second after i bid every time, regardless of the time. if i wasn't so paranoid, i could see it becoming very addicting to the right type of person.