What is QuiBids?

Answer 1

QuiBids is an online penny auction site.

It is different than other auction sites in the way that auctions are run. Each bid costs $0.60 and must be purchased in what QuiBids calls Bid Packs. Auction items are preset to increase in increments of either: 1, 2, 5, 10 or 20 for each user placed bid. Each time a user places a bid the timer resets to a maximum of 10-20 seconds. If no one else bids and the timer reaches zero, that person wins the auction. If you lose the auction you would be out the money you paid for each of your 60¢ bids placed during the auction. You may have the opportunity to use a feature QuiBids calls 'Buy it Now'. This allows you to purchase the item previously up for auction at the online retail price minus the cost of bids you placed during the items auction.

BEWARE: Beginners are directed to a "Beginner Auction" where you bid on Bid Packs. Since most people in the auction lose, (only one winner per auction), they use the bids they purchased with their credit cards to purchase these Bid Packs at 60 cents each minus cost of their bids and a transaction fee. It appears that you can't lose, because the worst that can happen is that you wind up bying the bids for what you would normally pay anyway. The difference is that these bids have ZERO retail value and do NOT count towards the purchase of any other item for sale!

I used my bids the first day buying more Bid-Packs and then the second day when I went to bid on an item, and lost the auction, I also lost my money since the Bid Packs I purchased in the Beginner Auction were worthless towards the purchase price.

This place IS a scam. The promise that you'll never have to pay more than the retail price of an item is a lie. These "fake bids" they direct all the new users to in the Beginner Auction have zero retail value. No telling what they'll pull next!

Note: It would be wise to learn more about QuiBids' bidding process before bidding. The QuiBids101 section also gives tips and suggestions on how to participate on their site.