www.quibids.com

[ddt0725]

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

[HDNitehawk]

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.

[HDNitehawk]

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.

[scalesusa]

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

[ddt0725]

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

[ddt0725]

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!

[HDNitehawk]

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.

[ddt0725]

My coworker was reading about it in Time Magazine this morning, that

[wickerprints]

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

[Trondster]

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.