Quibids: goldmine or grave?

Aravind U. Shenoy

Amateur writer generally interested in literature, philosophy, science and current affairs.

Latest posts by Aravind U. Shenoy (see all)

Quibids, a site that sells items for less than one percent of its cost at times… a goldmine waiting for people to dig. A company that runs into loss because company owners wish to continue giving away steals. Well, wrong on both counts. Quibids is a site considered similar to gambling, and misguides people into believing that they can make intense profits with ease. It uses a bidding system where each bid deducts an amount(60 cents) from the user’s account. The timer for the bid, unlike ebay gets reset every time someone bids, so each product often goes through tough fights between people before the owner is decided.
The company, of course kind heartedly allows the losers to buy the product for its original cost in case they lose, deducting the bid value paid by the user. Oh! but a catch awaits there as well, as any bids you got from a bid pack are worthless in this scenario.
Another complaint is the limited number of items up for sale. Quibids isn’t trying to sell you what you need, its trying to sell you the idea of a steal. Its trying to make you gamble away your money.
As far as the profit or loss of the company on each item, if you include the bid value of losing bidders as well, quibids makes a profit average of above 150%. The final price may be low, but the value of bids add up to a huge amount.
If they were only trying to sell items off to consumers, they would let them start immediately. Instead, like gambling they tell you to try and get that easy item, a bid pack for example. If you win, you’ve started the long journey of gambling you may follow on this site before finally giving up. If you lose you’ve wasted money.
In the end the ones who benefit are a fraction of pro-bidders and quibids themselves, because of the added loss that piles up from unsuccessful bids. You may turn into a pro-bidder, but to you I have but one advise: tread carefully.

Share this post
facebooktwittergoogle_plusredditpinterestlinkedinmailby feather