Quibids.com = Scam
Quibids.com is a scam site that is misleading at best and fraud at worst.
The first misleading tactic is by declaring themselves an “auction.” They are not. This is clearly a lottery where tickets (i.e., “bids”) are purchased. Also, in a real auction, only 1 individual ends up spending money. On quibids, there is 1 winner and many, many losers.
The second misleading tactic is the belief that you (the one bidding) actually stand a good chance of winning a bid. You do not. The winner is someone who is willing to spend an exhaustive amount of time and money monitoring an item. By contrast, consider a real auction. You say you’ll pay X amount for an item. Someone else says they’ll pay Y amount. And so on. Very rapidly you come to a market price for the item. In the case of quibids, you must pay for every single bid and you are limited to only increasing the price by 1 or 2 cents. To put it another way, the winner is required to invest considerable amounts of time and money just to “win.” Example: let us consider an item I recently attempted to “win” on quibids. It was an iPad. The bidding war went on for at LEAST 27 hours (which is when I began watching it…who knows how long it was going on prior to that). If you were a prospective bidder when it started that meant you would have had to keep bidding on it non-stop for over a day and night before you stood a chance of winning. There is no reasonable rationale for allowing a bidding war to continue for that length of time.
The third misleading tactic is their “Buy It Now” option. Soothes your wounds, right? Wrong! This just proves they’re a gambling outfit. People get sucked in with the concept that quibids is an “auction.” This implies they can bid and win on something that they couldn’t afford otherwise.
More to come as I think of it…