Friday, March 26, 2010

Have you ever won or bid on anything from Ebay? Does it annoy you that it has become taken over by "stores" which is code word for a Chinese company that buys mass quantities of items cheap and then sells them for more than what they got them from? too. Ebay isn't what it used to be anymore. Every once in a while I'll find a true sell which is what I call a singular entity seller. One person, just trying to sell an item that was never worn or lightly used. They don't have 30 of the same purses and they don't have fine print in Chinese at the bottom of the auction. Sometimes those "stores" aren't even carrying the authentic items, they sell fake products and pawn them off as authentic.

Tim sent me a link to an article the other day about penny auctions. The article is about an Oklahoma based company called QuiBids that auctions off new brand name products for up to 95% off their retail price. They have MacBooks that go for $230 and have a retail price of $1500. Some other products they sell are HDTV's, gift cards to popular stores (Target, Walmart, Lowe's, etc.), iPods, iPhones, KitchenAid mixers, and so on. Here's the catch: each bid costs $.60. You have to buy the bids in bulk in order to start bidding. So let's say you buy 60 bids ($36) and you decide to bid on a laptop worth $1200. Let's say you used all your 60 bids to win the laptop that closed at $300. So even though you got the laptop for much less than it's worth, you have to also take into account the money you spent on the bids as well. If that is still worth it to you then by all means try this out. The biggest difference between this and Ebay is this: on Ebay if you bid and lose it doesn't cost you anything. If you're going to bid through QuiBids make sure you're going to stick it out for the long haul of that auction. They can last a long time. Once the auction gets under 20 seconds, every time there is a new bid the time jumps up again another 20 seconds. Watch a couple of the auctions and read the material on the website. Please visit QuiBids to learn more and to read the article click here. I'd love to know if anyone actually wins something and I'll let you know if we end up winning anything as well! Good luck!

♥ Erin


Josh said...

Hey Erin,

Thanks for your post and the information about Quibids. You summed things up pretty well.

Quibids is an example of a penny auction (also called a pay per bid auction). I run a carefully-filtered penny auction directory called the Penny Auction List.

You can get more information about QuiBids and other penny auctions
at the Penny Auction List directory.

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