Quibids is an online bidding site which has been rapidly gaining in popularity. This site allows users to bid on items at very low prices and potentially win great deals.
So, how does this work?
First you will have to sign up for a free account. Next you can buy bids; each bid will cost you 60 cents. When you've done this, you can search the inventory for an item that you are interested in and place a bid on it. If you are the last one to bid on that item, it's yours!
Is that it? Is it that easy?
Ah! Well this is where the fun and games come into play. The thing is; every time you place a 60 cent bid, it adds 10 to 20 seconds to the time that item will be up for auction. So, if someone bids after you, but no one bids after that person, the item will go to them. So if you see that the timer is down to a few seconds, you can quickly bid on that item and have a pretty good chance of being the last bidder. But, by doing this, you just added 10 to 20 minutes of time, giving others a chance to steal your item!
So, what happens if I really want the item but can't keep up with the bids?
Well, if you really must have the item, Quibids will allow you to just outright purchase it as long as you have placed at least one bid on it, with their "Buy Now" option. This can save you money if the item is something that you would be willing to have a day long bidding war about. Also, the overall cost of all your previous bids on the item will be deducted from the price of the item.
Is there potential to make money with Quibids?
Normal members don't have the option to put their own items up for sale or auction; the only way to do this is to become a partner. However, people who get good at bidding could potentially earn money through Quibids.
This is possible because all of the items up for auction on the website are brand new, brand name items that are still factory sealed. By reselling these items, (which you could technically get for only 60 cents!) you could make a pretty hefty profit.
This seems a little too good to be true...
You may be wondering "What's the catch?" When we're offered something online at such a low price most of us have alarm bells going off in our heads, wondering if it's a scam or not. Well, most scams promise a lot and claim to ask nothing in return.
Quibids is quite obviously not getting "nothing in return". They make a lot of money, because many times the overall amount of bids will outweigh the cost of the item. They also allow people to buy the item even after the bidding. So, if someone doesn't win what they wanted, the company makes money by offering that item to them at full price!
They also have a secure payment page, which means your payment info is safe and secure and that should give you confidence that this isn't some shady scam website.
You probably won't want to go into bidding with Quibids as a full-time occupation. But, there is a great potential to earn some income through this avenue which can help finance your other endeavors, and it can also be kind of fun.
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