I have been reading about Quibids and other penny auction sites for several weeks now. Under the assumption that there are no bots, shills, software scams etc, (Maybe not a great asumption but I had to start somewhere) I determined that the only way to come out ahead would be bidding on bidpacks and by winning many small auctions of gift cards to stores that I shop at anyway.
I started by buying the 100 bids plus 10 bonus and then won a 25 Bid beginners auction for 1 bid, a 25 bid pack for which I used 25 of my existing bids (and then used buy it now - total cost $2.60). Then I won two $25 gift cards for 1 bid each.
Total cost so far was $68.62 and I have two $25 gift cards coming so I am net out of pocket $18.62. One more gift card win and I will come out ahead. I also have 147 bids left.
It seems that IF I actually receive the gift cards and IF they actuall work, there may be a way to actually make something here by sticking to the small stuff. And again, I bid for giftcards at stores where I regularly shop. I will absolutely not bid in any auction of high-priced goods - that is the quick way to lose money.
Has anyone had an overall positive experience just consistently trying to win the smaller items?