Has anyone ever tried Quibids?

[faeriegodess612]

I clicked on the another ad here on DPS. This one was for a website called QuiBids. It seems legit, but has anyone tried it?

[faeriegodess612]

Ok,...I decided to try this. It costs $48 to start, and you get 80 bids to begin with. ( I also looked online for a promo code. I used the WINBIG code and it got me a couple of extra bids.) If you read the beginner stuff like it suggests,..instead of going for the big money items first, and playing it right, then I see it working well. My first bid, to try it out was on a card that gave me 25 more bids. The bid was 2 cents, and each bid costs you 60 cents out of your available money. (that $48 at first) My second was on a 16GB SD memory card (for when I get my DSLR) I bid on it twice. How much did it cost me total with shipping? $4.05, Thats it! Thats a $35 card on Amazon! Now to see how long it takes for them to get it here.

[amberenea]

I have tried it...seems too good to be true...I know some people who do very well and get things for a great price...but not my cup of tea. Good Luck.

[Jonbar18]

I was thinking of trying a similar site, but decided against it when i saw people were putting in $300 worth of bids on a $500 item. Not much saved...
Maybe smaller items get bigger savings....?

[faeriegodess612]

You have to do it right. This one isnt too bad. I've never tried something like this, but you have smart about it. I'm not a gambler,...It's not fun to me to give up my money and not get that much enjoyment out of losing it willingly. It's like a game, but you have to have a strategy. AND realize that its real money that your playing with, YOURS.

[kirbinster]

The business model is much like the lottery, when you win you are happy, but you will mostly lose. The business model is also dying as more and more companies get into it. Sure you can get a $400 item for $35, but they take in something like $2,000 and then supply a $400 item to the lucky winner.

[BEGM83]

Sounds like a scam to me.

Save your money and put it in a jar til you can afford the product.

[faeriegodess612]

Oh, yeah,... there are lots of people that will fight over stuff,... but they also have cards that you can bid on that give you extra bids. You just pay whatever lil bit that you've bid yourself. (if your not fighting for it) Yes, you just lose that money if you bid on something and dont get it. Like, I've said,..... thats why you have to have a strategy. It's complicated to explain unless you actually see it for yourself. If the only thing that I get out of this website is the SD card,...then I'd say it was worth it. It was at least worth a try.

[curelightwounds]

No, it's not a scam. They're pretty up front with how it works. The important thing to remember is that it seems too good to be true because it is too good to be true. Just like a casino, they don't make money by giving it out; Las Vegas wasn't built on the money of the winners.

Their model is this:
1) You pay per pid. For every bid you place you pay a certain amount, say $0.10 (just for the sake of simple numbers to work with).
2) They constrain how much you bid. This way the cost to others doesn't seem as high, making other potential buyers more likely to bid as well. So let's say that the increments are $0.05
3) They don't just make money on the item they sell, The lion's share of their money comes from all the bidding fees that lead up to that final bid.

In this example they're selling a $1200 camera. You'll have to trust me on my math, but they'd only need to sell the item at $400 in order to earn their money back. They'd only have to sell the camera at $400 because bidding costs would have earned them $800. If they sell the camera at $600 they make $1200 in bidding fees alone.

There's no scam, there's no cheating. Someone DOES get the item. What they've done is distributed the final cost among a whole bunch of people for an item that only one of them gets to enjoy.

[WVCoalMiner]

Originally Posted by curelightwounds

No, it's not a scam. They're pretty up front with how it works. The important thing to remember is that it seems too good to be true because it is too good to be true. Just like a casino, they don't make money by giving it out; Las Vegas wasn't built on the money of the winners.

Their model is this:
1) You pay per pid. For every bid you place you pay a certain amount, say $0.10 (just for the sake of simple numbers to work with).
2) They constrain how much you bid. This way the cost to others doesn't seem as high, making other potential buyers more likely to bid as well. So let's say that the increments are $0.05
3) They don't just make money on the item they sell, The lion's share of their money comes from all the bidding fees that lead up to that final bid.

In this example they're selling a $1200 camera. You'll have to trust me on my math, but they'd only need to sell the item at $400 in order to earn their money back. They'd only have to sell the camera at $400 because bidding costs would have earned them $800. If they sell the camera at $600 they make $1200 in bidding fees alone.

There's no scam, there's no cheating. Someone DOES get the item. What they've done is distributed the final cost among a whole bunch of people for an item that only one of them gets to enjoy.

You explained it better than I ever could!!! Good Job!!!!