Company type: Auction site
Required skills: None
Recommended ? Yes
What is quibids?
Quibids is based in Oklahoma city, Oklahoma and was started in 2009 as a way to make online auction more reliable and exciting. Quibids is a fast pace auction site where when someone places a bid on an object, another person is given a maximum of 10-20 seconds to place a counter bid if they are interested. This follows the method of traditional bids were they say “going once…twice…sold”.
How does quibids work?
Once you place a bid and 10-20s elapses without another person placing another bid, you win what ever you were bidding on. If you do not win the bid but still want the product, you can always buy it with the buy now feature.
You never have to pay more that the actual price of a product on quibids. Quibids features a variety of products from many vendors. Bids on quibids cost $ 0.60 and can be bought in bid packages at the bid store or the Q bar.
These bids are prepaid and store in the bid credit history section of my quibids. Every time you place an auction, it is deducted from storage and the price of the item you are bidding on increases by one cent.
A maximum of 20 seconds is placed on the timer to allow another person to place a bid. You win by being the last bid and get your item when you pay the final price and shipping cost (currently, there is free shipping on everything).
If you don’t win the bid, no problem because if you really want that item, you can use the buy now feature to pay the difference (price of item – cost of bids placed) and get the item. Lets say you spent 50 bids for an item that cost $ 50 and didn’t win the bid; if you decide to use the buy now button, you will pay $ 20 (50- (50*0.6)) and get the item.
Another great thing about quibids is that you can choose from a list of similarly priced items at check out. So bids are not limited to single items.
Only twelve wins are allowed per person for a 28 day period.
What is the best way to win an auction?
- Place your bid within the last 15 seconds of time reset so that you can be the highest bidder
- Bid on cheaper products that don’t draw a lot of competition
- Use the bid-o-matic tool. This can scare other bidders away because they know it will always bid to put you on top.
- Turn the bid-o-matic of your opponents against each other
- Study the bidding habits of the other bidders.
How does bid-o-matic works?
Bid-o-matic places bids for you automatically and in a very efficient way. It even allows you to place bids even if you are not logged into quibids or if you lose your internet connection. It will always place bids within the last 20s of the bid.
With bid-o-matic, you don’t have to be glued to your computer in the last seconds. You can only set bid-o-matic with a minimum of 3 bids and maximum of 25 bids at a time. You can only set one bid-o-matic at a time and you cannot set a bid-o-matic when there is less than 2 seconds remaining on the auction clock.
My personal experince
Before you jump in and start bidding, make sure you know what you are doing. Read the instructions and know how it works.
When I started, I didn’t slow down to read the instructions. I treated it as though it was traditional bidding and every time I lost a bid, I left money on the table. I didn’t realize I could use the buy now button to buy the item and reclaim my bids.
I also made arbitrary bids; this is bad because I didn’t really need these things so I was not motivated to buy them when I lost the bid. It is better to bid for those things you want so that you can buy them with the buy now feature if you don’t win the bid.
Quibids is amazing when you know how to use it. You can bid cautiously or crazy, it is all up to you but it is better to bid on those things you actually want. This way, if you lose the bid, you will not have to debate within yourself before using the buy now feature.
Plus when you want the item, you don’t worry about loosing bids because you know you can always use the buy now feature and buy it for the difference of you bids. It’s like trying to get a discount price first before settling for the retail price.
I hope this post have cleared up any doubts you had with quibids. Please leave a comment.