Hi All -
A coworker just showed me this a few minutes ago so I don't know a real lot about it yet but has anyone ever heard of or used this site before??
http://www.quibids.com/search.php?cat=10&s=&page=1
Denise
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Hi All -
A coworker just showed me this a few minutes ago so I don't know a real lot about it yet but has anyone ever heard of or used this site before??
http://www.quibids.com/search.php?cat=10&s=&page=1
Denise
If this is the site I think it is.
Its almost a form of gambling. When the item gets close to going to zero people bid. If you hit a point at zero that no one bids the item closes and you win the bid. But how do you know its not rigged.
People can get stuff cheap here, but the way the sitemakes money is that every time you bid the 1cent bid the site charges you. I heard of one site that charged you 5o cents every time you make a 1 cent bid.
If you like scratch off lottery tickets, this site may be for you.
Edit: just looked it up. This site charges 60 cents per bid.
Here is an interesting thought. If you bought a 5D Mark II from this site for $500.00. The site would have made $30,000 in bids.
Stay away, and report it to yahoo. Can you even imagine paying 60 cents a bid for a item that goes up in 1 cent increments? www.sitejabber.com/.../www.quibids.com
Most I've ever won on a scratch off is $2.00 so I don't think this is for me but I have two engineers here going nutso watching this right now!
So far this week I have had a flat tire, furnace breakdown, speeding ticket and now my washing machine is at the curb which broke last night ...I'm not exactly on a winning streak at the moment!
Denise
Scalesusa - I emailed the link you listed to one of the engineers but he was already on that site and is disappointed now but ....IF IT SOUNDS TO GOOD TO BE TRUE, IT USUALLY IS!
The company is based out of OKC. I live in this area. The company is legitimate and that is what they do. They were actualy interviewed on one of the local stations a while back, and not in a bad way seems the station was clueless about what they company really does. What I am suppriesed by is that the State of Oklahoma has not shut them down yet. Possibly it is a grey area, is it really an auction? or is it a gambling site?
I think it is a confidence game when you can be lead to believe you can buy somthing so cheap, and gouge you to bid on the item. You very well could and most likely would spend more on the site than you ever saved.
My coworker was reading about it in Time Magazine this morning, that
As a mathematician, upon reading how the bidding works, I had an immediate and strong visceral sense of aversion to it. It absolutely is a form of gambling. The only saving grace that it has is that if you lose, you can buy the product at retail price minus what you spent on bids. With this one rule, the only logical way to play would be to bid only on items you fully intend to buy at MSRP; this offsets your potential loss.
The thing is, unless you are bidding on things nobody else wants, you
It is a scam. They make far more money off the bidding fees than the items are worth. And of course they have automated bidding bots placing fake bids if an item is going to sell for too low a value. Avoid.
And please stop spamming forums with marketing spam such as this - especially for a dubious site.
Meh.
Quote:
Originally Posted by Trondster
Excuse me!? That was NOT my intent whatsoever and I really find youraccusation a tad out of line! I did not know the background of this site and that is why I posted the question. I trust my friends here to tell straight up whether it is a respectable site to get something a reasonable price (with a fee attached) or whether it is a scam, that I could very possibly got caught up in. Being naive is my downfall.
Moderators feel free to delete this thread. I guess I should have checked elsewhere for the insight I was seeking.
My apologies,
Denise
Quote:
Originally Posted by Trondster
I know the original poster, and she isn't associated with the site and was not spamming. It was a legitimate question.
Quote:
Originally Posted by ddt0725
Nope. I won't delete it.
It serves as another warning to anyone thinking of using that site, not only for members here, but for anyone who stumbles across this post via a google search too. It's more valuable than the 2 minutes of Trondster's (or anyone else's) life we may have wasted.
Quote:
Originally Posted by DavidEccleston
Agreed.
Quote:
Originally Posted by ddt0725
I am very sorry - I jumped the gun on this one. I have a background from other forums plagued by spammers posting "I just found this! Check this site out!", and I jumped to conclusions on your intentions regarding your post. I apologize - I'm sorry. [:$]
These kind of sites look legitimate - and tempting. But, as usually is the case, when it looks too good to be true - it usually is.
One site (ziinga.com - don't visit that site either!) has been around the danish news lately, exposing it for what it is. The operators get a lot of money from the bidders, and the average bidder ends up with a lot of fees and very little actual merchandise "won". For example, an iPhone sold for 680DKK (about $125). Based on an average bidding fee of DKK 5.50 ($1), and a price increase of DKK0.08 ($0.015) per bid,and thus 8500 bids (680DKK / 0.08DKK/bid = 8500 bids) the phone netted the operators 680 DKK + 8500 * 5.50DKK = 47,340DKK (about $8700). A flat screen sold for 3,587.36DKK would have earned the site about 246,631DKK, after about 44,842 bids.
Trying to win auctions at off hours won't help - you bid against others from all over the world. Filming customer trying to win auctions, one customer showed a repeating pattern. There were four or five users bidding on a single item. When one user started an automatic bidding - a series of 40 automatic bids - suddenly a new user appeared and started bidding - one user that had not been in the auction before. The user canceled the automatic bidding, and the user disappeared from the bidding. The user started a new series of automatic bids, and suddenly a second new user appeared, bidding on the item. "Our" user canceled the automatic bids yet again, and this second new user suddenly disappeared. Quite simply - bidding bots, run by the penny auction site, to inflate the prices, making sure that auctions do not end early.
Another user started looking through his bidding logs, after spending lots of money trying to buy a camera rather cheap. He discovered that he several times had bid several bids himself in succession, and thus actually should have won the item, as he was the only one bidding! He contacted the site, and they gave him 50 or so free bids as compensation. And removed his other bidding logs. And removed the display showing the number of other users bidding on items when logged in using his account. Making bidding rather useless. He closed his account, and bought the camera in a regular store. Lesson learned.
And of course, the entire site is run from a post box address in another country, Malta, Dubai or where ever. No - they did not want to talk to the press about if they were breaking danish law or not. They did, however, close the site off for new danish customers - so no new danish customers could register and see if it was legal or not.
Trondster
There are some differences between quibids and the site you described. The biggest difference is that they are based in Oklahoma City, OK. The company has actually gotten a lot of positive press in town, which surprises me. I do not have any doubt they would live up to what they promise on their website, as far as delivery of goods etc
There are a lot of sites changing this and that from the basic principle, changing every little bit trying to stay just within the law. The site in question seem to be just about like the site i described - one obvious difference being that the auctions stay "open" for a couple of hours or days, before turning into ye olde penny auction scam. As the consensus here seems to be - avoid.
Trondster - Apology accepted. I know what you mean about those spam entries and at first glance I can see how my thread could have been misinterpreted.
I had no idea sites like this existed to this extent. I thought it was more on the lines of an ebay type thing. I guess I just live in a bubble! I am glad I posted the thread for I (once again) have learned something here.
Thanks to all for the education!!
Denise