QuiBids. anyone out there doing this?

[steve smoot]

I received an advertisement for QuiBids the other day. So I checked it out.

It seemed like folks are getting some nice stuff for a few pennies on the buck.

I decided to sign up, what the heck. Well, after reading the cost to join, I decided this is not for me.

You have to buy bids and they cost 60 cents each time you bid, even if you don't get what ever it is you bid on?

I looked at some of the closed bids today. Someone got one of those Kindle readers for $58. This sounds like a really good price, but...each time someone bid, the price went up by 2 cents, so divide the selling price by .02 and then multiply the answer by .60 (what you pay per bid), and you see QuiBids netted $1740 plus the $58 they sold it for.

If the fellow that won the bid only had to bid once or twice, it was a good deal, but if folks go crazy like they do on Ebay, they are spending 60 cents every time they hit BID.

Anyways, just my thoughts here.

[swissarmygirl]

Wow, that's brilliant. The 60 cents per bid keeps people from going too nuts on the bidding, keeping the selling price low, but the site is making a fortune. Wish I had thought of that.

[starleen2]

WOW - thanks for the info - I've always wondered how those site worked