THSCC Forums

I followed a link to this site from someone's email signature... and I gotta say, as a business model, I'm very impressed...


www.quibids.com

Basically, instead of simply bidding on items with regular money, and the site taking a cut. You Pay The Site for chances to win an item (or bids.) The brilliant part is... it costs you 60 cents per "chance" but each chance is only worth 1 cent towards winning the auction. And each time you bid on an item, it adds 10-20 seconds (depending on the item) so someone else can use more of their bids towards it.

Hell, I got sucked in to spending about $240 with the site and all I've "won" so far is a voucher for 25 bids that still cost me $2.20 after the service charge (what you've paid the site for bid chances doesn't apply to the item unless you choose a "buy-it-now" option, at which point only the bids you've USED to try and win that item are applied towards the sale price.)

I mean, a Samsung 46" 3D HDTV just "sold" for something ridiculous of like $35.00 ... but if you consider that that means there were 3500 bids that people have paid 60 cents a pop for... that's $2100.00 the site has "invoiced" in bids used.

Other examples are iPads going for anywhere from $30 to $140... MacBook Pro from $125-$200... etc. etc.

I'm too impressed with the site to be upset about it LOL

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Stacy King
Midlife Crisis Participant

it seems like in order to come out ahead, you have be on the site a while and win a couple of times. if you are there to buy one specific thing, you're better off at ebay or amazon.

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05 MCS

That, or you have to be there, in front of your computer for HOURS AND HOURS on end clicking the bid button everytime an item's timer runs out... or NOT clicking it (hoping to save your bids) and hoping you click it at juuuuust the right time when there are no other bidders at that moment in time.

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Stacy King
Midlife Crisis Participant

That'll work until someone writes a script that does that automatically. Like those annoying sniping scripts on ebay.

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In need of car.

That's what I am thinking. I bet the guys that run this pyramid scheme have already thought of that.

There are SEVERAL sites like that out there today.

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02 Focus SVT
STF 9

[quote=Jason]

That'll work until someone writes a script that does that automatically. Like those annoying sniping scripts on ebay.[/quote]

That's one of the most brilliant bits... The "bid-o-magic"... Like proxy bidding on eBay, except you're not working with maximums you'll pay. You can only commit up to 25 bids at a time, and when you're talking about penny increments, it's simply a scheme to rid you of your bid chances so you'll buy more @ 60 cents a pop!

Or waste more bids to win "discounted" bids (usually in 25 or 50 bid increments)

I guess If you can load up on those you might be able to get ahead eventually... But I doubt it.

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Stacy King
Midlife Crisis Participant