Before you reach for your wallet to get in on some penny auction fun, please take a few moments to read our Quibids review and decide for yourself if they can be trusted. Chances are if you’re visiting this website, you have already heard of Quibids and are wondering if Quibids is indeed a scam? The truth is that QB currently leads the penny auction industry. The company has been online since 2009 and has managed to maintain an ‘A’ rating from the ‘Better Business Bureau. No other penny auction company has managed to accomplish such a feat. Simply put, if the company were indeed a scam, this would not be possible.
QuiBids has been around longer than any other penny auction that is in business today. This kind of longevity would be extremely unlikely if Quibids were a scam. The company’s “A” review rating from the Better Business Bureau along with their generous charitable contributions to many popular foundations such as Make-A-Wish, Susan G Komen and Habitat for Humanity makes them a popular favorite penny auction site. The “Buy It Now” feature, which allows you to purchase the item at retail price after the auction is finished minus what you have spent on bids, is available on every single penny auction in Quibids which seriously minimizes the amount of risk taken versus other penny auction venues. Given their business model, the likelihood of a Quibids scam taking place is very low. While the ‘Buy It Now’ feature has occasionally been seen on other competing websites, QuiBids is the only that offers it on every single penny auction.
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Quibids opened its doors for business in July of 2009 in Oklahoma City, Oklahoma. As mentioned before, Quibids is the only penny auction to date with an A review rating from the BBB. In ordering to accomplish this, bad customer experiences must be far and few between along with great customer service. Generally as with any reputable penny auction, the bad reviews received are typically from the users who don’t fully understand what a penny auction is.
One thing that has catapulted Quibid’s reputation was making the ‘Buy It Now’ option available on every auction. This feature enables users to give participate in an auction and if they do not win the auction, apply the money they’ve spent on bids and apply it towards the items retail price. Just to provide a quick example, say you use 20 bids when bidding on a penny auction for an iPod and you lose. The iPod retails at $100. Bids cost .60 cents. You’ve spent $12 on bids (20 bids x .60 cents per bid = $12.00). You can now pay $88 ($100-$12) for the iPod you were bidding on. If there were a Quibids scam or using bidding bots being used, the ‘Buy it Now’ option would probably not be made available.
Along with being the most popular penny auction website, QuiBids generally contains the most popular items on store shelves today. For a lot of people this will not be a problem, but for some who like specific niche products such as ounces of precious metals to be used for investing, you may not be able to find quite everything. Don’t get me wrong, they still have an impressive variety of items that are available for auction ranging from cell phones, laptops and iPads to designer handbags, jewelry, golf clubs and gift cards. All-in-all, most people will be able to find what they’re looking for here.
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Just priced below the industry standard of .70 cents per bid, QuiBids continues to stand out amongst the crowd offering bids at only .60 cents each. You can buy bids in all kinds of preset quantities and unique thing here is that you do not need to buy in bulk to get this deal on bids. The price is .60 cents no matter how many you purchase. Be wary of scam penny auction sites who price their bids below .50 cents a bid in hopes to lure new users. This does not guarantee the site would be a scam, however it would certainly warrant further investigation.
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OK, so I was skeptical at first but WOW, I just won an auction for dr dre beats for only $12.55! I did have to spend about 30 bids, but $40 for $300 headphones?? I’m hooked!
What happens if you lose, have you tried winning any other auctions?
It took me a few times before I won an auction, but there are deals to be had. My advice is to pick an auction and stick with it.
if you lose an auction on quibids you still have the option to buy it for it’s regular price minus what you’ve spent on bids.
once you win do they hit you with high shipping fees? I don’t understand how they can offer things for low prices and make money
Just signed up, will report back my experience!
@ray n, I won an auction last week on quibids and the shipping for my gift card was only like $6. They make money from the bids at .60 cents each. For example if there is 200 bids on an item, they made $120 and usually, not always, the item cost quibids less.
This smells like a scam to me!
Can somebody confirm that even if I spend 20 bids on an item, if I do not win the auction I can still get it for the retail price they post minus $12.00? (20 bids x .60 cents)
The people who call Quibids a scam, are the people who don’t understand what a penny auction is. I’ve won several auctions on Quibids and the tips here in the ‘Strategies’ section hit the nail right on the head. This site is a great resource for anyone interested in penny auctions. Rock on Penny Auction Talks!
That is correct, you can buy the item at it’s normal price if you do not win the auction and get a credit towards the final price for bids spent.
I won twice on quibids first time they didn’t have it in stock, but they reimbursed my money plus gave me 175 bids that was one option. The other option was to choose a different item. I won a second item a aerobed twin guest air bed for .04 cents on two bids which equals .60 cents plus s/h You have to be smart about it. And it makes sense in how it works 1 cent bid equals .60 cents of your money so if an item ends up at $5.67 thats 567 x .60 that would equal $340.20. I’ll keep watching for that deal
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