Quibids charges about 60 cents per penny bid. An item which is a $100 Gift card to WalMart, Home Depot, Lowe's etc. often sells at final bid for about $10 to $15 (from our observations), bringing in $60 per $1 increase in price to quibids. So an item with a final price of $10 brings in $600 in revenue to quibids for a $100 gift card. That is profit! The person winning may have spent 30 to 50 bids to win the $10 final bid. This cost to the winning bidder is not $10 but $10 final bid price plus all the bids at about 60 cents per bid which can be some money. Even smaller winning items come with a processing charge added to the item. Quibids is not satisfied with making a huge profit from the bidding process but adds another fee on top of it all.

asked by Vee M. on 12/9/10