Bob W.

You must buy "bids" from the site to bid on an item. The "penny" you use to bid is the one you must purchase at sign up. Actually you must pay $60.00 to buy 100 bids at sign up. Therefore that Quibid "penny" cost you 60 pennies. Every bidder on an item spends 60 cents per bid. If a $100 item receives 1000 bids the amount spent bidding garners is 60 cents multiplied 1000 times which $600. When you think you have bid 100 pennies on a item remember that those "pennies" cost you 60 cents each. You are not bidding one dollar but actually $60.00. They will offer losers the chance to buy the item at retail less your bid cost.