The operators of Quibids are printing money with this site. Is this the new Mafia money machine?
Not enough variety and too many bidders for any one item. You can get lucky and buy something for a penny (just like slot machines) but most people keep bidding and then lose out.
I was following an auction for an Apple Ipad and the price kept climbing to a somewhat high price of $43.00. That might not sound like much but at $0.60 per 1 cent increment, that works out to to over $2,500 dollars for Quibids for a $700 item. As I watch, the price is still climbing.
Every person who bid on this lost money and only one person will win the Ipad.
I feel sorry for those who get caught up in this game.
Can I buy stock in this company? It is more profitable than porn.