So late last night while I was watching TV another commercial came on for QuiBids.com. I had already visited them once but thought what the hell let’s go try it out. From being a web developer I knew the concept behind the site. Basically you buy bids at around $0.50 each and then you bid on items along with other people. Let’s say you’re bidding on a Gift Cards for example and win it like I did. The final bid was around $2.00 and it was a $50 gift card. Let’s toss some math in and find out how much the company really made off that card.
Say it took me 10 bids x $0.50 = $5.00
Say 20 other people were bidding and placed 10 bids each which is 200 bids x $0.50 = $100.00
Now since I won it I have to pay the final price of $2.10 plus shipping / handling which is $1.99
Grand total I paid for this card was $9.09 (including bids), or $4.09 including shipping which is how they want you to see it.
Grand total Quibids made from this card sale is $109.09!
Was it worth it to me? Yes!
Would I do it again? Yes!
Did I do it again? Yes!
I won 3 game points which you use to win free bids, 50 additional bids and two other gift cards. In the end I came ahead since the bids I won were actually purchases. Total amount if Gift Cards I won was $85.
Now they have a LOT of other stuff, gift cards is just something I wanted to bid on. Another good thing that I noticed was on some auctions if you hit the max amount that the card is worth they stop allowing you to be on it and instead offer a Buy It Now option where you pay $1.00 less than the face value of the card but when you factor in shipping it comes to $0.99 more. It’s still a good deal because this way you’re not losing all those bids you spent by still getting the item through Buy It Now.
They also offer badges for winning, bidding and etc. Attached to those badges are extra bids. I won an extra 25 bids on badges and had fun doing it.
Would I recommend QuiBids.com to someone? Sure I would but make sure you understand what you’re bidding on and can afford to lose bids if someone else really wants the item. One example was a 40 inch TV that sold for $40.00. That’s 4000 bids at $0.50 each, totaling $2000!
Either way if you have some money to blow and are thinking about it check them out at http://www.quibids.com and let me know what you win!