Tthuma T.

Quibids is a scam and falsely represents itself. You purchase tickets and then "spend" them on bids. At the end of the auction, when you do not win the auction (and you never will), you are offered the same product you were bidding on for the "fair" market price minus what you "spent" in bids already. It makes it sound like a great deal. If you decide not to take them up on the offer, then the bids you "spent" on the item are gone, and so is your money.

So let's say your bidding on an iPad. These cost $500 minimum. Let's just say 100 people are bidding on the iPad that the web site says is going for $5.00. It goes up in one cent increments. People are spending their bids and the price is up around $10.00 now. So that's 100 people each bidding somewhere between $0.06 to $10.00 for the $500 iPad. Now you need calculus for this, but I would say that they have collected way more than the $500 for that one item, the iPad.

In the end, "one" person wins the item for let's just say $15.00. Awesome deal! Everyone else is given the opportunity to buy the iPad for a fair amount minus what they have already spent in bids. Meanwhile, they could have collected thousands of dollars selling just one item and then turn and offer you that item for what you could go buy it for in the store. Oh, and do I know that person that won the item? It doesn't take a genius to figure out a simple mathematical problem could make it all a computer generated ghost that bids on the item until they make their profit.

Oh, and if you bid, no matter how much, you lose the money to them. At least when I bid on eBay, I don't have to pay if I don't win.

If you fell for this, I am sorry, but as P. T. Barnum put it, "There's a sucker born every minute."