Quibids.com is an online penny auction site that offers exciting products including electronics and more for heavily discounted prices. But winning these great items at auction for the best possible price takes a little bit of planning and effort. This article will explain the best way to dramatically increase your odds of winning auctions on Quibids.com.
What is Quibids.com?
Each bid costs just $0.60 and available in Bid Packs. These bids are pre-paid and placed in your Bids Account. Each time you place a bid, your Bids Account is deducted one bid. Once a bid is placed the auction price will go up in increments of 1, 2, 5, 10, 15, or 20 cents.. A maximum of 20 seconds is added to the timer every time someone bids. This gives enough time for someone else to make the decision to bid if they’re interested. This is similar to the “Going once…Going twice…SOLD!” approach of traditional auctions.
If you are the top bidder when the timer reaches zero, you win! You will then pay the ending auction price as well as the cost of shipping. If you do not win, you lose your bids that have been placed; however, we offer a Buy it Now feature on all auctions. When you use our “Buy it Now” feature, we subtract the cash value of the bids you’ve placed (excluding voucher bids) from the value price of the item, and you only have to pay the difference.
How do I win on Quibids?
Many people sign up for Quibids.com and wind up wasting their bids and losing their money. This is because they purchase bids and start bidding on items with out knowing anything about the site, the items they are bidding on, or their competition.
Before you ever start bidding on Quibids you need to do a little research and develop a plan. The information you want unique silent auction ideas to gather is what item do I want to bid on? What is the average price of this item on Quibids? How many bids will I likely need to win this auction? When is the best day of the week to bid on this item? When is the best time of the day to bid on this item?
Deciding on an item
The first step is to decide on the item you want to purchase. The QuiBids’ customers that have the most success are the ones that are willing to exercise the “Buy it Now” feature if they do not win the auction.
The customers who are the most successful at QuiBids are the ones who pick out products that they would be willing to pay full retail price for. Then they bid on those items for a chance to win them far below retail price. As a result of their willingness to go all the way they usually have a very high chance of actually winning the item.
The QuiBids customers that have the least success are the ones that have unrealistic goals and are unwilling to pay more than a small fraction of the actual retail cost of an item in bids.
What is the average final auction price for this item on Quibids?
The next useful bit of information you will want to collect is the average final auction price of that particular item on Quibids.com. You canspend hours looking through the “closed auctions” page and hope that there have been enough of this item auctioned in the past 3 days to give you an idea of the average final price (not likely) or you can utilize a free online Quibids Tracker to quickly and easily find that exact information based on the most recent 50 auctions for a particular item on Quibids.com.
Once you have an idea of what the average final auction price for the item you are attempting to win is, you will have a sense of how long you can wait before you start bidding.
For example, if the average final auction price for an item is $54.75, you probably don’t need to be wasting your bids until the auction price gets above $40-45.
How Many Bids Will I Need?
You will also want to have an idea of how many bids you will need in order to win a particular item on Quibids.com. Don’t expect to win a big screen TV with only 25 bids. It is possible but highly unlikely.
We can’t stress this enough, but users need to set realistic goals when participating in auctions. If someone is new to an online auction, he/she shouldn’t expect to win a MacBook on his/her first auction with the cheapest bid pack there is. Not saying it couldn’t happen… it could and it has… but it is highly improbable and more than likely it won’t happen. Odds will be against you at that point.
Instead, go back to that same Quibids Tracker which should give you an estimate based on previous auctions for this item of how many bids you will need to win. Be prepared to use at least this many bids in your quest to win the item.
When should I bid?
A good Quibids Tracker will also track the best times of day and days of the week for bidding on a particular item. Following these trends will help you capitalize on the best potential auction prices for this item.
