QuiBids Review – Introduction
Like most people who look for deals online constantly, I have come across the popular penny auction website QuiBids.com and wondered about how legitimate it is. Before you sign up and give them your money, please read our QuiBids review and decide for yourself if the site is worth your investment. Chances are if you are reading this article, you are wondering if QuiBids is a scam or if this program is just too good to be true. Good for you. Smart people investigate companies and products before they sign up. Disclaimer: I am not an affiliate of QuiBids and have no association with QuiBids.com.
How QuiBids Works?
QuiBids is an auction based website. You purchase bids up front for $.60 per bid. You must purchase bids to start participating in any of the auctions. Items up for auction include gift cards, jewelry, digital cameras or TVs. You choose which products you want to bid on. There is a time limit and if you end up being the last person to bid on the product, you get it. If you do not win the auction, you have the ability to purchase the item at regular price minus the amount of bids you just spent so you do not lose out on your original bid costs. Seems easy enough.
I am sure you have seen their ads where you can get items very cheap. I wondered how that business model could work for the company but if you understand how the auction works, you can see how their business model works. If an item gets 200 bids, QuiBids makes $120.00 on that item. If the item cost them $100.00 to purchase, then they just made $20.00 on that item. Once you place your bid, that money is spent. You have to be sure you want the item before you start bidding on it.
QuiBids Review – Reputation
QuiBids has built a strong reputation over the last 3 years it has been in business. The company is based in Oklahoma City and started in 2009. They have refined their business over the years and is the top penny auction website on the internet. They are an accredited business with the Better Business Bureau. It is very difficult to be BBB Certified as a penny auction site. They take care of their customers and address any and all complaints very quickly. It is a great sign of being legitimate to be BBB accredited. They also boast on their site that they have recently passed a third party audit by Grant Thornton LLP in which their controls and processes have been reviewed and approved as legitimate and operationally responsible.
QuiBids Fees and Pricing
Just like we mentioned previously, the cost is $.60 per bid. There are no hidden costs or fees associated with winning bids. There are going to be shipping costs that are similar to other online retailers which is expected. There is no membership fee to join QuiBids and there does not appear to be any up sells on the site as well. What you bid for and win, is what you buy. Any guarantee that is offered is specific to each product or item on the website.
Conclusion
QuiBids is a strong player in the penny auction website arena. The website is very well organized and the call to actions are very bold and easy to navigate. They also appeal to the competitive people out there and have a way to earn badges or achievements for using their services. I hope you have read through the QuiBids review and can use your knowledge to make your decision on whether or not you would like to participate in an auction on QuiBids.com.
