Quibids Review Is It a Scam
Penny Auctions my personal opinion is don’t get involved with them unless you have at least 75% of the retail price of the product you are seeking to purchase. Another thing is before you get into a website like Quibids.com make sure you READ the terms and conditions and also understand what you are getting yourself into.
Penny Auctions work off ignorance (in my opinion) and they’re time consuming. The reason why I say you should have at least 75% of the money of the retail value of the item you wish to purchase is because the penny auctions in many ways are all about backing up your bid with your commitment. You lose in Penny Auctions when you are not willing to commit to a particular item.
Do you follow me here? Because if you don’t you will lose all of your money in a penny auction very quickly. When getting into this type of endeavor you’ve got to have some heart and also have some money, again I recommend 75% of the value of the item you seek. Another thing to keep note of is that with Penny Auction sites the house always wins.
Example: Three guys fighting for a PS3 console these three men are all serious and only one person can win. Each of these three men are willing to pay over $100 for this PS3 and they do, they each use up $120 in credits to try and win this PS3 console but only one person wins. This is how the penny auction website wins all of their money. This is also the reason why most people never win ANYTHING in Penny Auction Sites. Again the house has to make their profit when getting involved in these penny auctions never forgets that.
Online Penny Auction Scams
Now when you are dealing with penny auction sites ONLINE!!! There’s the fear actually it’s my fear that the game is RIGGED. This is my reason for not getting involved in this type of auction. The reason why eBay has become so successful is because only the winning bidder has to pay. Because penny auctions use NON REFUNDABLE credits the instant you sign up with them is the instant you’ve basically lost your money.
So if you the money you’ve invested is not at least 75% of the retail value of the product you want and if you are not prepared to go all the way with your bids then forget about it. When you look at Penny Auctions from the proper perspective it’s plain to see why people scream scam all the time. Now personally I don’t think Quibids.com is a scam but at the same time I don’t recommend you join them.
Wait a minute – How did $.60 per bid become 1 Cent per bid?
Nothing on Quibids is being sold for 1 cent the fact of the matter is that each bid costs each user 60 cents per placed bid. The real allure of Penny Auctions is the name and online it’s also the visual presentation meaning once you see your desired item on auction for a few cents or dollars, most people are going to think to themselves hey this looks simple and cheap let me try that. Like I said above when getting involved with online penny auctions you have to purchase credits meaning the house has already won. And like with any other auction site there can only be ONE winner, but unlike traditional auction sites where only the winner has to pay for the price of item, a penny auction website means once you vote you’ve paid for the price of the item. So each time you vote you lose credits.
Penny Auctioning is border line gambling in my opinion. Also penny auction sites work in reverse. The larger the penny auction site gets the harder it gets for members and the better it gets for the house (in this case Quibids.com). If you want to sign up for Quibids.com don’t let me stop you just don’t say I didn’t warn you. Please leave your comments or your experience with Quibids below it helps others.
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