So What is a Penny Auction Anyway

QuiBids is a Penny Auction…So, What’s a Penny Auction You Ask?

Bidding sites have grown exponentially ever since eBay started and grew on the Internet. But like all good things, there must be an end to the status quo, and new folks need to move in. That is just how the market has always worked, and it seems to not be any different this time. While penny auctions are still relatively new, there seems to already be one website that has the business figured out. There are several penny auction sites coming up, but Quibids seems to be the one that is rising to the top, so look for some of their Quibids free bids.

How It Works

The way the penny auctions work is when you register to the site, you have to immediately purchase 100 bids for $60. Now, this is where a lot of people are turned off and get concerned. Don’t be alarmed. This is how penny auctions work. You buy the bids, and then you add your bids to products you want to bid on. Every time you or someone else places a bid, the cost of the product increases by one penny, and the clock resets. The goal is to be the person who set the last bid when time finally runs out. It takes time to figure out a strategy for people to figure out how to bid on these products and to actually get a deal, but in the end, it is possible to get an iPad or iPod for only $15.00.

Not A Scam

Because so many people are new to the process of penny auctions, there are allegations of these sites being a big scam. The truth is, there are elements of strategy as well as an element of luck involved in getting these items for so little money. Because Quibids is sensitive to being called a scam, and they want people to take them and their website seriously. To help bring people into the website to see what they are really doing, Quibids offer multiple ways for you obtain Quibids free bids. The Quibids free bids are used to help people feel better about the money they are spending up front and to enter the site. This is smart, because, with a good strategy, people will be able to go in and buy some products for just pennies on the dollar. Even when you add in the fees for the bids, the amount paid for the items is just a fraction of what would have been paid if bought in the store. It can ultimately be a really good deal.

Why Strategy Matters

Before you go into a penny auction site like Quibids, make sure you understand that these auctions are a lot like a cross between strategy and luck. The luck is hard to control, but the strategy part is not, and that is the most important part. The first thing to consider is the best time of day to place your bids. The more people there are placing bids, the harder it is to get the product for a really low price. You want to place bids during the day on Tuesdays through Wednesdays, because those are the times people are least likely to be on the website. Quibids tries to be fair to everyone, so they reduce the number of items available for bidding during these slower times, but it is still a better opportunity for you to place your bids and to even win some Quibids free bids for a lower price. Also, you will want to look at how often to bid, and when to bid once you have chosen an item you want to try and win for yourself. Thinking about your strategy and researching other methods are two ways you can take advantage of Quibids and everything they have to offer. If you want that iPad for $25, go and get it, but just make sure you have a plan on how to do it.  You can try to keep track of things that you think are important to gaining an edge, but you’ll find you’ll quickly be overwhelmed with the details.  Your best bet is to win on QuiBids more often is to use a QuiBids tracking software like the one offered here on Bid-Ninja.  If you just want a little “taste” of what is offered by the Bid-Ninja software suite, check out the free QuiBids statistics offered by us right on our site.

Customer Protection

Quibids is a company that wants a piece of the bidding website pie. They are never going to be able to do that if they are dishonest, scamming, or don’t protect their customers. Honesty is evident all over the Quibids website. If you read their blog, you cam learn how their site works, and then you will understand the initial charges, and how all the fees and other charges work. They tell you up front that you are going to be paying for bids, and how many you will be getting as a result of signing up and buying those bids, known as a bid pack. You are not just suckered into the deal if you read what they put right in front of you. Another thing they are very serious about is keeping their customers and their financial information safe. Some of the steps they take to protect people are as follows: • There are limits to how many wins a person can win per day. They have thought ahead and figured out the obvious game people will play, and they do not allow multiple accounts from the same person or household, nor is using bots allowed. There are consequences for breaking those rules. You will not be able to get the product you bid on after 12 wins in 28 days, and there will be no refunds. Make sure you are aware of these rules, though. • Although it is understood that children might get onto your Quibids site and make bids for you, in order to keep it fair for everyone, they do not accept this as a reason to get refunds. You are responsible for your account and for anyone that uses it. • They do not sell your information to third parties. This is big for a lot of people, and they are serious about not selling your information. • They take fraud very seriously. Stolen or fake cards are reported to the proper authorities, and they are willing to prosecute anyone that attempts to use fraud on their sites.