How Quick Bids (QuiBids.com) Works
Quibids.com offers new items up for auction starting at one penny. To bid on an auction you must purchase bids. Bids are ‘tokens’ that cost sixty cents each. If you want to bid on an item, you must spend one of your bid tokens by clicking the ‘bid’ button. They utilize a business model called a ‘pay per bid’.
When you click the ‘bid’ button at QuickBids, the following happen:
- The price of the auction increases one penny
- You are added as the ‘top bidder’ in the auction. If no other bidders place a bid and the count down clock hits ‘sold’. You win!
- 10-25 seconds are added to the auctions count down timer
See more in my new bidders penny auction guide
Important things to note about bidding at Quibids.com.
- Anyone may out bid you at any time
- If you lose the auction you can apply the amount of money you spent on bids trying to win the auction against the purchase price of the auction. Virtually eliminating your risk
- If you win the auction, you can then purchase the item at the auctions ending price which is almost always pennies on the dollar of retail.
- Your total cost for an item must include the cost of the bids you spent winning the item, the auctions ending price and any shipping charges
Why Bidding Quickly or being one to Bid Quick is Strategically Good Advice
In penny auctions, aggression wins! Playing penny auctions aggressively means that you are the one to place bids quick. You do not wait to the last possible moment to stick in a bid trying to steal a last second click. Instead, you click bid on top of everyone else and make them stop you from winning. Last moment bidding is a defensive strategy. You can do this to try and keep the auctions going and wear your opposition down but to win you should be thinking “quick bids win!” It’s true, they do.
You can read more advanced penny auction strategy and we highly recommend signing up for the SkoreIt Masterclass for an in depth set of strategies, ideas and techniques used by winning bidders to win more at a wide variety of penny auction sites.
If you want to learn more, see our in depth QuiBids review and learn more about this leading penny auction or browse through our penny auction articles, guides and top lists. Good luck out there!