Posted: 3/3/2011 5:59:24 PM EDT
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iPads for $24.63!!!11!1ONE!! Is QuiBids legit, or too go to be true? |
| it costs you $.60 per bid, plus the final price. Now if you bid enough, you can put that cost to the product and just buy it out right. I've seen the total revenue of bids on ipads go up to $4,000 or so. A friend pointed out the site and we monitored for it a week or so looking for trends but neither of us bought anything. Looks a bit risky. If you do put your bids cost toward outright buying the item, a lot of times they are higher priced than if you just buy the product somewhere else. |
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Its legit, but know this: not everybody wins....
There are a lot of people on Quibids, swoopo, & other penny auction sites... You are better off on one of the medium to smaller sites, your odds are better... How do I know this ? I own one of these sites. You might want to check out places like pennyauctionwatch.com, pennyauctionwatchdogs.com, or Pennyburners.com to find the sites that are less than reputable, and you can also learn some bidding strategy. (Also who NOT to bid against) PM me is you have any questions, I'd be happy to help. Steve (the Dutchman) |
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Quoted: it costs you $.60 per bid, plus the final price. Now if you bid enough, you can put that cost to the product and just buy it out right. I've seen the total revenue of bids on ipads go up to $4,000 or so. A friend pointed out the site and we monitored for it a week or so looking for trends but neither of us bought anything. Looks a bit risky. If you do put your bids cost toward outright buying the item, a lot of times they are higher priced than if you just buy the product somewhere else. So it's a scam. Gotcha. |
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It's one of those concepts that you wish you had been the first to bring to market.
The way it works is you buy each bid. So if it starts at $0.10 and you want to bid on it, you pay $1 to bid it to $0.20. You pay that $1 no matter what. The auction ends when nobody has bid in a set about of time (15 minutes, and hour, whatever) and if somebody bids, the clock resets. So for that $24.63 laptop, assuming a 5 cent bid increment (look like they're doing 1 cent) and $1 per bid, that's 492 bids, or $492 + 25.63 = $517.63 to the seller. Refurb iPads are $349 so the seller pockets $168.63 and drop ships you an iPad. If bids are $2 each then the profit is $635. If you bid 10 times and lose you're out $10 with nothing to show. If you bid 100 times you're out $100 with nothing to show. The model counts on your "I've already paid so much, I have to have something to show for it!" mentality to keep bidding. |
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It's one of those concepts that you wish you had been the first to bring to market. The way it works is you buy each bid. So if it starts at $0.10 and you want to bid on it, you pay $1 to bid it to $0.20. You pay that $1 no matter what. The auction ends when nobody has bid in a set about of time (15 minutes, and hour, whatever) and if somebody bids, the clock resets. So for that $24.63 laptop, assuming a 5 cent bid increment (look like they're doing 1 cent) and $1 per bid, that's 492 bids, or $492 + 25.63 = $517.63 to the seller. Refurb iPads are $349 so the seller pockets $168.63 and drop ships you an iPad. If bids are $2 each then the profit is $635. If you bid 10 times and lose you're out $10 with nothing to show. If you bid 100 times you're out $100 with nothing to show. The model counts on your "I've already paid so much, I have to have something to show for it!" mentality to keep bidding. Um...Not exactly. If bids are .60 cents you pay .60 cents per bid...If you win the item, you are paying the cost of the bids you placed on that item plus the final auction price. So say you only placed 30 bids to get that iPad... That means you paid $18 (at .60 cents a bid) plus the $24.63 which equals $42.63 Now the owners see it this way: Each auction starts at .01 cent, as the clock counts down each bid entered raises the final auction price by one cent and extends the timer on the countdown clock anywhere from 10 to 20 seconds. A final auction cost of $24.63 = 2463 bids at .60 cents which is $1477.80 minus the cost of the ipad ($500) which would be $977.80 Now thats all fine and dandy but look at the closed auctions & see how many they took a beating on. For instance a $50 gift card that goes for .23 cents. That comes out to $13.80 for a $50 card. So it isnt all huge profit for the owners.... Ask me how I know 
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Quibids is the latest incarnation of a site that keeps getting shut down. The FTC is investigating them and the guy that runs it is based in Canada.
Their site is very busy and if you fill out the data forms, they pull you to another site asking for card info. The disclaimers are hidden in another area of the screen and when you submit info they immediately debit your account for a substantial amount of money. Because the disclaimers and agreements are on a different area of the page and there is no checkout (in violation of FTC regulations) you don't even know that you bought something until your bank statement shows it. If you go back to the site to see what happened they log your IP address and show you an FTC compliant page so you can't say you didn't see it. Go to another computer and log on and you will see how they do it. I've experienced this first hand. My bank gave me money back fortunately but I've found out these crooks have been doing this and hopping from domain to domain for the last couple years with the govt in pursuit. These people are slime and need to be thrown in jail or worse. (notice COC compliant speech) |
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It's gambling ,if you're good at math and programming you can beat the system , otherwise it's like the lottery. Not gambling. If it were it would be regulated... Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... |
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It's gambling ,if you're good at math and programming you can beat the system , otherwise it's like the lottery. Not gambling. If it were it would be regulated... Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... On what grounds? |
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It's gambling ,if you're good at math and programming you can beat the system , otherwise it's like the lottery. Not gambling. If it were it would be regulated... Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... On what grounds? Programming indicates to me that somebody would be using something to manipulate the outcome of an auction. If you did that, it would be theft. Most of the penny auction sites out there have TOS that limit any mechanical or electronic devices used to affect the outcome. |
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It's gambling ,if you're good at math and programming you can beat the system , otherwise it's like the lottery. Not gambling. If it were it would be regulated... Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... On what grounds? Programming indicates to me that somebody would be using something to manipulate the outcome of an auction. If you did that, it would be theft. Most of the penny auction sites out there have TOS that limit any mechanical or electronic devices used to affect the outcome. Theft? Really? Good luck with that. The point of bidding is to manipulate the outcome of an auction. Doing that through a proxy doesn't turn it into theft. |
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Quoted: Quoted: Quoted: Quoted: Quoted: It's gambling ,if you're good at math and programming you can beat the system , otherwise it's like the lottery. Not gambling. If it were it would be regulated... Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... On what grounds? Programming indicates to me that somebody would be using something to manipulate the outcome of an auction. If you did that, it would be theft. Most of the penny auction sites out there have TOS that limit any mechanical or electronic devices used to affect the outcome. Theft? Really? Good luck with that. The point of bidding is to manipulate the outcome of an auction. Doing that through a proxy doesn't turn it into theft. Sounds more like a civil issue if it's part of the TOS, doesn't it? |
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It's gambling ,if you're good at math and programming you can beat the system , otherwise it's like the lottery. Not gambling. If it were it would be regulated... Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... On what grounds? Programming indicates to me that somebody would be using something to manipulate the outcome of an auction. If you did that, it would be theft. Most of the penny auction sites out there have TOS that limit any mechanical or electronic devices used to affect the outcome. Theft? Really? Good luck with that. The point of bidding is to manipulate the outcome of an auction. Doing that through a proxy doesn't turn it into theft. You really don't think that using a program to enter a website & manipulate an auction so that you can win it isn't theft ? Good Luck with that. |
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If you want a cheap ipad, just buy mine  Or buy one of the older ones....Apple just said they are knocking $100 off the cost.... OR BUY MINE. WHICH IS WAY CHEAPER. We don't auction used stuff, or I'd be all over it ! I'm always looking for a good deal. |
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It's gambling ,if you're good at math and programming you can beat the system , otherwise it's like the lottery. Not gambling. If it were it would be regulated... Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... On what grounds? Programming indicates to me that somebody would be using something to manipulate the outcome of an auction. If you did that, it would be theft. Most of the penny auction sites out there have TOS that limit any mechanical or electronic devices used to affect the outcome. Theft? Really? Good luck with that. The point of bidding is to manipulate the outcome of an auction. Doing that through a proxy doesn't turn it into theft. You really don't think that using a program to enter a website & manipulate an auction so that you can win it isn't theft ? Good Luck with that. No, I don't. Using sniping software on ebay isn't theft because I can do the same thing by hand. Proxy bidding software isn't theft because a human can do the exact same thing. How many people have you successfully prosecuted for theft for using software? |
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Re-hash of BeeZid.com.. I imagine they had to change names to avoid the heat. Different companies. & there really is no heat..... it's not an illegal business model. Its very similar to a seat auction, where you pay for the right to bid. Where the "heat" comes in is from people who have spent a lot of money & lost an auction, then want their money back after they agreed to the terms of the site. If people don't have the funds to spare for this type of entertainment, they really shouldn't be participating. There are going to be more & more sites like this in the near future....Try googling "penny auctions" & see how many hits you get. There are a lot ! |
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It's gambling ,if you're good at math and programming you can beat the system , otherwise it's like the lottery. Not gambling. If it were it would be regulated... Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... On what grounds? Programming indicates to me that somebody would be using something to manipulate the outcome of an auction. If you did that, it would be theft. Most of the penny auction sites out there have TOS that limit any mechanical or electronic devices used to affect the outcome. Theft? Really? Good luck with that. The point of bidding is to manipulate the outcome of an auction. Doing that through a proxy doesn't turn it into theft. You really don't think that using a program to enter a website & manipulate an auction so that you can win it isn't theft ? Good Luck with that. No, I don't. Using sniping software on ebay isn't theft because I can do the same thing by hand. Proxy bidding software isn't theft because a human can do the exact same thing. How many people have you successfully prosecuted for theft for using software? We're talking about 2 different things then. What you are talking about is "throttling" what I am talking about is "hacking" If someone wants to throttle the bids, more power to them, what I am talking about is trying to enter the admin panel of a site, or access the server for the purpose of manipulating the script itself. |
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Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... Quoted:
We're talking about 2 different things then. What you are talking about is "throttling" what I am talking about is "hacking" If someone wants to throttle the bids, more power to them, what I am talking about is trying to enter the admin panel of a site, or access the server for the purpose of manipulating the script itself. "Programming" and "hacking" are completely different things. |
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Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... Quoted:
We're talking about 2 different things then. What you are talking about is "throttling" what I am talking about is "hacking" If someone wants to throttle the bids, more power to them, what I am talking about is trying to enter the admin panel of a site, or access the server for the purpose of manipulating the script itself. "Programming" and "hacking" are completely different things. Geesh..... You don't have to yell....... |
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Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... Quoted:
We're talking about 2 different things then. What you are talking about is "throttling" what I am talking about is "hacking" If someone wants to throttle the bids, more power to them, what I am talking about is trying to enter the admin panel of a site, or access the server for the purpose of manipulating the script itself. "Programming" and "hacking" are completely different things. Geesh..... You don't have to yell....... So again, how many people have you successfully prosecuted for "theft"? |
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Its called entertainment shopping, and yes, if you are good at math you can figure some things out...Programming on the other hand may land you in a court of law... Quoted:
We're talking about 2 different things then. What you are talking about is "throttling" what I am talking about is "hacking" If someone wants to throttle the bids, more power to them, what I am talking about is trying to enter the admin panel of a site, or access the server for the purpose of manipulating the script itself. "Programming" and "hacking" are completely different things. Geesh..... You don't have to yell....... So again, how many people have you successfully prosecuted for "theft"? Zero, but I haven't needed to either. We've had plenty try, none successful. They open multiple accounts, try to use the fake accounts as refered users. Most of the time we ban them & enter their IP in our htaccess file as deny. Likewise we have had no chargebacks on our site. |
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Its legit, but know this: not everybody wins.... There are a lot of people on Quibids, swoopo, & other penny auction sites... You are better off on one of the medium to smaller sites, your odds are better... How do I know this ? I own one of these sites. You might want to check out places like pennyauctionwatch.com, pennyauctionwatchdogs.com, or Pennyburners.com to find the sites that are less than reputable, and you can also learn some bidding strategy. (Also who NOT to bid against) PM me is you have any questions, I'd be happy to help. Steve (the Dutchman) This website says that pennyauctionwatch.com is a shill watch dog site for penny auction .coms. http://www.watchpennyauctionscams.com/2010/06/10/bigdeal-com-pennyauctionwatch-com-scam-reviews/ |