Is Quibids Legitimate Or Another Penny Auction Scam
Is Quibids Legitimate
Price: $27 + More Bids
Score: 70 Out Of 100
Verdict: Legit (Not Highly Recommended)
There has been a lot of hype about these new sites that hold penny auctions. You have seen the commercials on TV that show people getting iPads and other expensive items for a few bucks. This whole penny auction idea is completely legit, but a lot of the companies are not and the big question is can you actually win any auctions.
QuiBids is probably the most popular penny auction site out there. They do the most advertising out of all sites and honestly are one of the better penny auction sites. So you already know the answer to, is QuiBids Legitimate or another penny auction scam. It’s a scam free way to get products at a discount, but I will be covering the details of how it works and why it’s not my #1 recommendation in this QuiBids Review.
How Does QuiBids Work?
1) Join and Purchase Bids
The first thing you will need to do to get started is join and purchase bids. Some penny auction sites give you free bids, but you’re hit with a big fee at the end. With QuiBids you purchase bids up front and then don’t have a fee when you do win an auction. I have included a visual of the pricing for bids below.
You can see from the visual above that it costs $27 to get started with Quibids. They do offer bigger packages that give you more for your money, but I would just stick with the mini/starter pack at first.
2) Read the Get Started Guide
This is basically a beginner’s guide to how penny auction sites work and how QuiBids works. This is a very important part of joining because a lot of people do not understand the in and outs of how it works and this will give you realistic expectations on how to win auctions.
3) Find an Auction
The next step is to find an auction to bid on. Quibids recommends starting with auctions for more bids. These auctions usually go for pretty cheap and you can get a pretty good sense of where the price stops by watching a few auctions end before hand.
Each auction has its own countdown and once a new bid is placed the clock starts over. The more bids placed on an auction means the countdown is shorter. Here is an example in pictures below.
You can see from the picture on the left that when the price of the auction was just at a few cents there was a lot of time left in the auction. The picture on the right shows that once the price of the item builds up the auction time reduces (lowest I’ve seen in 8 seconds). Every time someone bids on an item the count down resets.
4) Win an Auction
Once you have won an auction of any type of product you will then need to pay for the item. Basically you’re already out how much money you spent on the bids it took for you to win the auction plus the ending price of the auction you won. All you need to do is checkout and the item will either be applied to your account or shipped if it’s a physical product.
5) Get Paid!
Once you have completed checkout the only thing left to do is wait for your item to arrive. I have included proof of payment below from QuiBids. I recently won a $10 gift card while messing around to write this review. I basically used all of my bids just to win, but did save some money on the ending price of the auction. (really I lost money because I used all my bids which cost me $27.)
As you can see from the section above QuiBids does actually pay. I received a $10 gift card to Walmart that I won. It seems that you receive your prize within a week if they have to mail and prizes such as bids are updated to your account immediately after checking out.
Tons of Items
One great thing about QuiBids is that they do have a ton of different items in a lot of different categories. All the products they auction off are Brand New, which I’ve seen a few penny auction sites that auction off some used products which is pretty scammy.
Some of the product categories are gift cards, electronics, home & garden, Jewelry & Fashion, and Sports. Within each main category there are at least 10 different categories.
Lose Your Bids
One major negative about QuiBids is once you bid on an item you lose your bids even if you don’t win the item. For example if you bid on an eBay item and don’t win you are not out anything other than maybe some of your time. With QuiBids your paying around $.60 a bid and are loosing money on items that you bid on and don’t win.
The next negative is how hard it is to win an auction, but for this section know that you’re going to give up a lot of bids just to win and item which can really cut into the deal you get when you do win an auction.
Can You Actually Win
Here is the big kicker with QuiBids and penny auction sites in general, it’s extremely hard to actually win an auction. Yes I did win a $10 gift card, which is the lowest amount available and one of the easiest auctions to win, but it required about 30 bids to do so.
So basically to win a $10 gift card I spent $18 to do so. If you really got it down to a science you could win auctions with less bids, but your really not going to save that much money after you pay for your bids, unless you get lucky.
Penny Auction, but it cost more than a penny
One major misconception about penny auction sites is the what the penny means. Yes every time you bid the price of the auction goes up one penny. What most people think is that they only pay a penny too. As you can see with QuiBids it’s close to .60¢ for each bid.
This means that you’re paying a lot more for an item than the actual price you win the auction for.
What To Do Now
If you would like to learn more about QuiBids visit QuiBids.com. To me penny auction sites are really not that great of a deal and you end up spending a lot more money then you actually think.
If you’re okay with that, QuiBids is a completely legitimate company that will pay you with the items that you win at auction. But I think you will find that its way to hard to win an auction and that you’re going to spend more money then you really want to.
Since you know I don’t recommend QuiBids it’s time to talk about some products I do recommend. If you would like to see all the scam free online jobs that I recommend visit All Jobs.
If you would like to learn more about my #1 Recommendation and how you can start your own online business and turn it into a full-time income visit Start Your Own Online Business.
If you have dealt with this company I’d love to hear about it in the comments section below and don’t forget to share with your friends.
Thank you for reading this post on is QuiBids Legitimate or another penny auction scam.