Quibids

The Stig · 11-28-2011, 08:37 PM

It actually works. I was stumbling the internet and saw a youtube video that explained what/how these penny auction sites work, and being the sheep that I am I joined Quibids. Now, it cost $60 to join, and with that I got 100 bids. BUT, it paid off already. I got the girlfriend's birthday present for 87% off. In stores it would have cost $125, I bought it for $17 (well $77 counting what I spent to join - but that's still like 50% off and I can now continue shopping on Quibids) shipped to my door.

Don't really have anything else to say, just wanted to brag. Now back to your regular scheduled thread.

Overflow · 11-28-2011, 08:43 PM

These sites have always sounded fishy to me.

I just don't get how it pays off to the people selling it.

Muscle SS · 11-28-2011, 08:52 PM

Each bid costs usually about a dollar, but if bought in packs can cost as little as 50 cents. The bids increase by 1 cent with each bid, so if the item sells for 10$, they make 1,000 bids worth plus the 10!

garcmol · 11-28-2011, 08:52 PM

Look at the math. The average bid on these penny sites cost .60 cents per. That $17.00 actually is 1,700 bids at .60 x 1700 bids which equals $1020.00. $1020.00 minus the $125.00 retail is $895.00 profit for the site.

Getting in is pretty easy. But you have to be aware of the math! Lets say you make 40 bids on a item you finally win for $10.00. Most folks think "Yay, I saved X %!" Then take those 40 bids x .60. Those 40 bids equal $24.00 + $10.00 (for the item) = $34.00!! And the site made 1000 bids x .60 = $600.00.

I would love to own one of these sites, but I'll pass on buying from them.

The Stig · 11-28-2011, 08:54 PM

Quote:

Originally Posted by garcmol

Look at the math. The average bid on these penny sites cost .60 cents per. That $17.00 actually is 1,700 bids at .60 x 1700 bids which equals $1020.00. $1020.00 minus the $125.00 retail is $895.00 profit for the site.

Getting in is pretty easy. But you have to be aware of the math! Lets say you make 40 bids on a item you finally win for $10.00. Most folks think "Yay, I saved X %!" Then take those 40 bids x .60. Those 40 bids equal $24.00 + $10.00 (for the item) = $34.00!! And the site made 1000 bids x .60 = $600.00.

I would love to own one of these sites, but I'll pass on buying from them.

This is correct. Except one part. I didn't buy the thing for $17. I bought it for like $1.25 ish and then shipping was about $15.50. I think I made 6 bids total so (0.60 x 6 = 3.60 (moneys spent on bids) + 1.25 (final cost) = 4.85 + 15.50 (shipping) = ~$20 spent in total.

I'm pretty happy with myself.

garcmol · 11-28-2011, 08:57 PM

Quote:

Originally Posted by stieger

This is correct. Except one part. I didn't buy the part for $17. I bought it for like $1.25 ish and then shipping was about $15.50.

This is correct, period. I'm not talking what you paid for this item. This is just a breakdown of numbers.

And, true, whatever you get shipping is on top of the price as well.

P.s. this wasn't a shot at you. This was just an explanation of those type of sites.

Needs Exhaust! · 11-28-2011, 08:58 PM

I hate you. I'm hooked. Must. Buy. Golf Clubs.

The Stig · 11-28-2011, 08:59 PM

Sorry I was mistaken. I bought the thing for $0.19

Name: Screen Shot 2011-11-28 at 8.58.34 PM.jpg
Views: 381
Size: 38.7 KB

For those of you playing at home, this is called winning.

2ndgenz28 · 11-28-2011, 08:59 PM

I looked into it a long while ago when beezid was hot, here is the jist of it i gathered then, dunno if its still the same.

"11-18-2009, 02:12 PM

beezid

Anyone else see that commercial?

new auction site, 5th gen camaro’s going for under $1000

But it looks iffy still.

Everything starts at 1 penny, and bid are all done by 1 penny, and you pay up to $1 for ever 1 penny bid you make.

On the main page a guy just won a $100 gift card for $1.10 but if they get near $1 per every penny bid, plus the final price. They can cover their losses on big items easy with enough volume. A $120 bid pack is 200 bids, 60cents per 1 penny bid.

found a rip off report but at the end, he says it was fixed and he got awesome stuff for cheap.
http://www.ripoffreport.com/internet...nter-45693.htm

Though if the site is legit, you gotta get in early to get them good deals before to many folks join. [coughlockerzcough]

winner: RMTMMT
Price: $0.62
G.I. Joe: The Rise of Cobra blue ray DVD

do that all day long at $50-60 a pop, plus a million other titles.......

Also I checked the car ones are sometimes reveal auction.

A car is listed for 20-40% off but the price is hidden. It cost 1 bid to see the hidden price, and that hidden price will drop by 20cents and you can decide to buy at said price or not. so couple hundred thouh of reveal clicks that lowers it by 20cents, and a 40-80cent profit, a small 40cent profit on each 100,000 reveal clicks, $40,000 profit, lowers car price $20,000

big old pyramid scam that works as long as people play.

Getting ahold of the numbers is amazing.

Cause member they get 60+cents for ever 1 penny bid made.

A guy pays just over $200 for a 52in flatscreen LCD but beezid makes 4-8-10 times more in profit over retial cost.

Sharp AQUOS / 52" LCD
Retails at: $1,699.99
$200.16
ohhenry [high bidder]

member each bid is only worth 1 penny but cost around 60cents.

100 pennies in a $1

100 X 200 = 20,000

20,016 bids so far.

60cents X 20,016 = $12,009.60
40cents X 20,016 = $8006.4
"

The Stig · 11-28-2011, 09:01 PM

Quote:

Originally Posted by garcmol

This is correct, period. I'm not talking what you paid for this item. This is just a breakdown of numbers.

And, true, whatever you get shipping is on top of the price as well.

P.s. this wasn't a shot at you. This was just an explanation of those type of sites.

Mk. I kind of took it as a shot at me, but no worries. Trust me, I was VERY wary when I signed up for it first.

bill2129 · 11-28-2011, 09:01 PM

I've Tried them sites. I could never win anything. You either really know how to bid on them things. Or got really lucky. Theres a trick to it. But its hard

The Stig · 11-28-2011, 09:02 PM

Quote:

Originally Posted by bill2129

I've Tried them sites. I could never win anything. You either really know how to bid on them things. Or got really lucky. Theres a trick to it. But its hard

Check my build thread. I'm REALLY lucky, and I know how to use the internets

garcmol · 11-28-2011, 09:13 PM

Quote:

Originally Posted by stieger

Mk. I kind of took it as a shot at me, but no worries. Trust me, I was VERY wary when I signed up for it first.

Really? hmmm, I was actually breaking it down for Overflow, or anyone else that was curious.

Remain wary, and stay away from auto bidding!

2ndgenz28 · 11-28-2011, 09:19 PM

Some people are just lucky, I know a guy who buys everything on late night TV and they all work for him. Guy could sell $20 bills on ebay for $30 and clean up.

I couldn't sell a $20 bill for half off to save my life.

11-28-2011, 08:37 PM	#1
The Stig knows 2 facts about ducks Drives: ...and they're both wrong Join Date: Aug 2009 Location: The HMS Invincible Posts: 25,072 View My Garage	Quibids It actually works. I was stumbling the internet and saw a youtube video that explained what/how these penny auction sites work, and being the sheep that I am I joined Quibids. Now, it cost $60 to join, and with that I got 100 bids. BUT, it paid off already. I got the girlfriend's birthday present for 87% off. In stores it would have cost $125, I bought it for $17 (well $77 counting what I spent to join - but that's still like 50% off and I can now continue shopping on Quibids) shipped to my door. Don't really have anything else to say, just wanted to brag. Now back to your regular scheduled thread. __________________

11-28-2011, 08:52 PM	#4
garcmol Drives: 10 1LT SIM; 91 B4C sleeper Z Join Date: Aug 2009 Location: Ft. Mitchell, Alabama Posts: 7,198	Look at the math. The average bid on these penny sites cost .60 cents per. That $17.00 actually is 1,700 bids at .60 x 1700 bids which equals $1020.00. $1020.00 minus the $125.00 retail is $895.00 profit for the site. Getting in is pretty easy. But you have to be aware of the math! Lets say you make 40 bids on a item you finally win for $10.00. Most folks think "Yay, I saved X %!" Then take those 40 bids x .60. Those 40 bids equal $24.00 + $10.00 (for the item) = $34.00!! And the site made 1000 bids x .60 = $600.00. I would love to own one of these sites, but I'll pass on buying from them. __________________ Pedders Pace Car Package, Injen CAI, Flowmaster AT, AAC Lighting, ZL1 fascia/skirts, RKSport Ram Air hood, vented fenders, painted stripes (Gary's Customz), Honor and Valor badged (Thank you, John)

11-28-2011, 08:59 PM	#8
The Stig knows 2 facts about ducks Drives: ...and they're both wrong Join Date: Aug 2009 Location: The HMS Invincible Posts: 25,072 View My Garage	Sorry I was mistaken. I bought the thing for $0.19 For those of you playing at home, this is called winning. __________________

11-28-2011, 08:43 PM	#2
Overflow Space Shuttle Aficionado Drives: 2016 Camaro 2SS Join Date: Jun 2010 Location: Tampa, FL Posts: 30,897 View My Garage	These sites have always sounded fishy to me. I just don't get how it pays off to the people selling it.

11-28-2011, 08:52 PM	#3
Muscle SS All blackkk Drives: 2010 2SS/RS LS3 Join Date: Oct 2011 Location: Albany, NY Posts: 871	Each bid costs usually about a dollar, but if bought in packs can cost as little as 50 cents. The bids increase by 1 cent with each bid, so if the item sells for 10$, they make 1,000 bids worth plus the 10!

11-28-2011, 08:58 PM	#7
Needs Exhaust! Drives: 2011 2SS/RS, 2008 XLR-V Join Date: Aug 2011 Location: In my car!! Posts: 227	I hate you. I'm hooked. Must. Buy. Golf Clubs.

11-28-2011, 08:59 PM	#9
2ndgenz28 Thread Killer Drives: All Black Join Date: Aug 2009 Location: NWO Toledo Area Posts: 4,720	I looked into it a long while ago when beezid was hot, here is the jist of it i gathered then, dunno if its still the same. "11-18-2009, 02:12 PM beezid Anyone else see that commercial? new auction site, 5th gen camaro’s going for under $1000 But it looks iffy still. Everything starts at 1 penny, and bid are all done by 1 penny, and you pay up to $1 for ever 1 penny bid you make. On the main page a guy just won a $100 gift card for $1.10 but if they get near $1 per every penny bid, plus the final price. They can cover their losses on big items easy with enough volume. A $120 bid pack is 200 bids, 60cents per 1 penny bid. found a rip off report but at the end, he says it was fixed and he got awesome stuff for cheap. http://www.ripoffreport.com/internet...nter-45693.htm Though if the site is legit, you gotta get in early to get them good deals before to many folks join. [coughlockerzcough] winner: RMTMMT Price: $0.62 G.I. Joe: The Rise of Cobra blue ray DVD do that all day long at $50-60 a pop, plus a million other titles....... Also I checked the car ones are sometimes reveal auction. A car is listed for 20-40% off but the price is hidden. It cost 1 bid to see the hidden price, and that hidden price will drop by 20cents and you can decide to buy at said price or not. so couple hundred thouh of reveal clicks that lowers it by 20cents, and a 40-80cent profit, a small 40cent profit on each 100,000 reveal clicks, $40,000 profit, lowers car price $20,000 big old pyramid scam that works as long as people play. Getting ahold of the numbers is amazing. Cause member they get 60+cents for ever 1 penny bid made. A guy pays just over $200 for a 52in flatscreen LCD but beezid makes 4-8-10 times more in profit over retial cost. Sharp AQUOS / 52" LCD Retails at: $1,699.99 $200.16 ohhenry [high bidder] member each bid is only worth 1 penny but cost around 60cents. 100 pennies in a $1 100 X 200 = 20,000 20,016 bids so far. 60cents X 20,016 = $12,009.60 40cents X 20,016 = $8006.4 "

11-28-2011, 09:01 PM	#11
bill2129 Account Suspended Drives: 2085 Trans AM COBRA Join Date: Jan 2011 Location: Chester County PA Posts: 676	I've Tried them sites. I could never win anything. You either really know how to bid on them things. Or got really lucky. Theres a trick to it. But its hard

11-28-2011, 09:19 PM	#14
2ndgenz28 Thread Killer Drives: All Black Join Date: Aug 2009 Location: NWO Toledo Area Posts: 4,720	Some people are just lucky, I know a guy who buys everything on late night TV and they all work for him. Guy could sell $20 bills on ebay for $30 and clean up. I couldn't sell a $20 bill for half off to save my life.