A review of Quibids.com – Quick Bids, Easy Win – Penny Auction

Today we will be reviewing a very interesting site for all online shoppers. www.Quibids.com like “quick bids” is a site that sells products for auctions. Anybody can participate in the bidding process just be able to register and confirmed through email. The bidding process is pattern to the traditional process yet implemented online. For as low as $0.60, you can start bidding in all the products quibids.com is selling.

Here’s the interesting feature of the site:

After you place your bid, a 20 second time is allotted for others to place their bids but if the timer reaches zero, then the last bidder will win and buys the product. In addition, if you want to leave your computer and want to put the bidding on autopilot, there’s also an option where you can use the “Bid-O-Matic” to place bids for you. This will help you win. But each time you place a bid, Quibids also deducts one bid from your Bids account. Therefore, placing many bids means paying more to Quibids but you can still use it to buy the product. You’ll just pay the difference of the product price and the amount of bids you place in the bidding process.

There’s an alternative way to receive free bids. Just tell all your friends and contacts about Quibids and let them signup and buying a Bid Pack and make sure to use the “Refer a Friend” link in the My Quibids section.

Keep reading below for the additional information about QuiBids.com.

What is the URL of Your Website?

www.quibids.com

What is Your Vision for this Business?

I want to offer a new, fun and exciting way to shop online, giving those the chance to come away with awesome deals on a variety of popular products. QuiBids is an online penny auction where nobody has to leave empty handed. Worst case scenario, a customer buys their item at retail value. Best case scenario, he/she comes away with an item up to 85% off retail.

What is the Business Plan or model?

QuiBids is set up on a ‘pay to play’ business model. Each bid is $0.60 and you purchase those bids in what we call Bid Packs. After purchasing a bid pack, a customer is then able to participate in any auction he/she chooses.

Why Did You Start this Website?

I initially saw a competitor’s site and thought it was fun. I was fascinated with the business model from the beginning and knew of a way to take it forward.

How are You Planning to market it?

From the beginning, I marketed strictly online. Just recently I have started to test some traditional forms of advertising.

Who are the Founders of this Website?

Matt Beckham, CEO
Shaun Tilford, CTO

Where are You Located?

Oklahoma City, OK USA

When Did you Start this Website?

October 2009

How are you Different from Your Competitors?

Yes, there are multitudes of penny auction sites. We are different from our competitors due to many of the features we provide on our site. One in particular is the Buy it Now option. All bids spent in an auction are able to be applied to the online retail value of the item he/she bid(s) on. That way a customer never has to lose any money. We offer this feature on every single auction on our site.

Tell Me More About You or Your Business:

In less than one year, QuiBids has become the largest online penny auction in the U.S. Our current Alexa ranking is 3,406. We have plans to further the industry, as well as to expand internationally (in 2011).

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{ 2 comments… read them below or add one }

Paula Zemke March 25, 2011 at 12:43 pm

I just want to get nice things for my family at this time when things are difficult. I tried to bid on an ipad and did it wrong I guess. I do not understand how to do it properly. Or how that clock works that just keeps changing

Kevin August 29, 2012 at 1:20 am

So you mean to tell me after 21 seconds the bid is set?

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