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QuiBids Complaints & Reviews - Definitely a very smart fool’s trap

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QuiBids

Posted:    Massene

Definitely a very smart fool’s trap

Complaint Rating:  97 % with 135 votes
Contact information:
QuiBids
United States
quibids.com
This site is not an auction: every bid costs a credit, which is money: who has ever seen an auction where the bidder has to pay for each bid increment?

This site is closer to a lottery, but not quite the same, since you need to buy several "tickets" for one raffle.

This site is really about gambling, since you have to increase your bid in order to stay in the race until it closes.

But it is twisted gambling, and of course in the site’s favor.

First twist: at poker, or in any gambling game, the gambler knows the odds. Here, the gambler does not: unknown and uncontrollable pool of bidders, unknown and uncontrollable gains (since you won't know the cost of purchase until the end). At Quibids, the house manipulates the odds, as they do anything they can to build the biggest possible gambler pool (the larger the pool, the less chance to win) with their interest at heart (maximising bidding) and not the bidders’ interest (understanding the odds of winning). Their system only pays lip service to informing the gambler, who basically makes betting decisions blind-folded (the site gives Motherhood and Applepie advice like wait the last 10 seconds to bid...yeaah, right, but does not show stats about when to bid, by category of product, for instance).

Second twist: it is a resource-exhausting gambling system. To win, you simply have to exhaust competition, and any bet you placed early is lost as long as it is not followed by another bet. In most gambling games, like roulette, every bet creates a chance to win, whether it is a small or a big bet, and the House cannot disqualify a gambler just because of lesser resources. Here, at Quibids, if you want to see the outcome of your bid, you just have to keep bidding ... and paying.

In fact, the QuiBits system is banking on irrational behavior in order to make money. The best auction scenario for QuiBits is one that attracts a lot of bidders for a trendy product and lots and lots of bidding happening in very small increments. In such a scenario, there are lots of fools, but the biggest fools are the ones bidding early. But they contribute to traffic and bidding, thank you very much. Clearly, BIDDING EARLY IS NOT A RATIONAL DECISION. Then, why would a bidder want to bid early and exhaust credit resources for impossible odds? Bad instincts, fueled by gambling fever and dreams of affordable luxury. But also, poor information made available by the site. QuiBids does not help the bidder strategize: But of course, this would not be in their interest, as it would discourage early bidding, which of course would be the kiss of death for the site.

In the QuiBids environment, late bidders are not much better off: as bid increments remain small, the gambler’s pool size is not likely to get smaller until people fall off the cliff and get resource-exhausted. QuiBids could have chosen a system fairer to the gamblers, like increasing the bid increment as the auction progresses: increasing the bid increment would create higher stakes for late bidders, thus reducing the bidders’ pool and increasing the odds of winning (which would partially compensate late bidders for investing more money on the auction). Instead, they maintain or even reduce the bid increment (I actually saw QuiBits reduce bid increments in the later stage of an auction for a $1300 MacBook Pro, from 15c down to 5c: I thought this was so unfair to bidders…): it is all about pushing traffic and bidding…

At the end of the day, to determine if a gambling system is fair, the test is simple: it is about how much money it returns to the gamblers. In Vegas, if you play the machines, the machine returns 90% or 95% or even 97% of the money. In the Quibids system, I would not be surprised if they return no more than about a third of the money. Plus they apply additional fees ("transaction fees"), plus when the site is popular, they will leverage the traffic and make money out of advertising revenue... The beauty of all of this is that they don't even need to buy the merchandise until it is sold through an auction: there is zero risk for them! they sell first, and then they buy the stuff before shipping it to the "winner". I betcha, soon, they will auction coupons for automobiles: you win the coupon and you go directly to the dealer, QuiBids will not even have to bother shipping you the car, you’ll do the legwork for them. What a system! Maybe I shall imitate them and build up my own QuiBids website...

The bottom-line? Definitely a very smart fool’s trap. No doubt about it!
Comments United States Online Scams
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 30th of Oct, 2010 by   Jpreachit +1 Votes
This site is a legalized Jesse James. People are being ripped off every time a bid starts. I have been a member for a short time and I have filmed different times of the clock stalling to award the bid up to 5 to 7 seconds allowing other bidders to jump in and start bidding again which will force the high bidder to loose that bid. I have also experienced the clock to stop with 2 seconds left and award the bid to someone early. The clocked only goes about 1 to 2 seconds over and ends the bidding allowing the bidder who is the highest to win the bid, that is the right way. The 1 to 2 second delay at the end of the clock should be forced by the Government. It is totally unfair for quibids.com to allow the timer to pause 5 to 7 seconds on any type of bid. This is to long which will allow other bidders to steal the bid. Right is Right and Wrong is still Wrong They are Wrong. Also when you complain their answers are always the same. Shame on you QuiBids.com
 5th of Jan, 2011 by   GM in CT +1 Votes
I concur 100%...just 2 days ago I was about to win an auction (I think), when I put a bid in at 2 seconds and a pop-up told me I was too late getting my bid in and the auction ended. Furious doesn't nearly begin to describe my feelings; and the clock doesn't count down fairly...I don't know how many times I've seen people lose auctions because the clock delayed 4-5 seconds with 1 second left. They are also using bots or employees to drive up your bidding, especially if you're the only one bidding: I won an auction on my last bid, which tells me that no one else was bidding (except an automated bidding agent). There are people who are obviously making a living on this site, as well. These people are allowed to win high-end items repeatedly despite the rules saying otherwise.
 9th of Jan, 2011 by   Really Big Guy +1 Votes
Who can prove that an honest person wins ever bid. All Quibids has to do is claim xyz won, when xyz is, in fact, Quibids. In other words, hundreds or thousands of honest [gamblers] bid on a laptop and they ALL lose, but the site keeps all the fees. We don't know that it's a scam becasuse the site claims an old lady from Kansas won (Mrs. xyz), but she doesn't actually exist. All Quibids has to do is ensure a smattering of winners, which they tell us about to convince suckers that it's an honest game. They could rig 99% of the bids this way and we wouldn't know it. The temptation for them to massively cheat is enormous.
 16th of Jan, 2011 by   GM in CT +1 Votes
Really Big Guy: Correct! How many of us actually believe that someone got a 55" HDTV for $12.48? Yet, they post these "wins" at the top left of the screen. This is what baits everybody in. I just deactivated my account. They wanted to know why...I told them that bidding favors wealthy people with unlimited resources. I just feel sorry for those naive ones who have put themselves into serious debt trying to grab the brass ring. All totaled, I won 5 auctions and did not break even. Lesson learned.
 21st of Jan, 2011 by   tonimoore 0 Votes
I was looking at your site thia a.m and was charged I dont know for what, I'm very up-set I have called my bank and they have no phone # for you Please contact me A.S.A.P Toni Moore toni_moore2001@yahoo.com 500 S Pine St #1019 Lansing Mi 48933
 5th of Apr, 2011 by   mketani 0 Votes
This site cannot be called a bidding site, it is between a raffle and a scam. I wasted $60 on it and felt I should warn others before they fall victims to this scam. Here is why:
-They almost definitely use bots to make fake bids.
-To get your trust and lure you to spending big they give a few small beginers prizes when you join.
-Their advertising about what the items recently sold for is false and misleading.
The above points constitute an illegal operation and grounds for closing down the site.
 8th of May, 2011 by   ffburn1 0 Votes
I agree with all of you. I just went to the site signed up and when the credit card option came up a red flag popped in my head. I exit the site and a bot said wait chat with me. So I did (it was one sided) she wanted to give me 10 free bids. I typed I want 50 she told me there were thousands of items blah blah. I exited tried to go back to the site I think my joke with the bot was not taken well I'm banned
 13th of May, 2011 by   Manfred1957 0 Votes
This site is a TOTAL scam! It is not about products, it's all about bids! They advertise how 'cheap' people were able to 'buy' items with just pennies on the dollar (of typical cost of any item), yet they charge you for EACH bid. Not only is that bad enough... they also control the bid clock. I witnessed the clock resetting up to 2 minutes when it had already counted down to just a few seconds left. Regardless of the mechanics of how they do it, it is a total scam! I have requested to be removed from any and all of their mailings. Don't waste your money or your time with this SCAM!
 15th of May, 2011 by   The Architect 0 Votes
Think about the business model, it's brilliant for QuiBids, horrible for you. Say you've got 1000 people bidding on a $1300 laptop that QuiBids bought at wholesale for $900. The bidding starts at $.01 -- each of those 1000 people start bidding on the item, at $.01 increments. The bids cost $0.60. Say the item sells for $350. That's a great deal for the one person who won. However, stop to consider that QuiBids received 3, 000 bids @ $0.60 per bid to get it there. QuiBids just grossed $1800 + the $350 that the "winner" paid. Net profit for QuiBids? $1, 250 on that single item. Nice profit margin... And a good deal for 1 bidder. The other bidders lost big time. It's a raffle, not an auction.
 23rd of May, 2011 by   tavius0407 +1 Votes
LOL i read everything you have said, and got to say i agree, i started bidding on a camera, now i am only one person who know for sure i exist and not a bot, well the betting continued and continued, till i had bet $420 worth of bids and guess what, then like a fool i had to use the buy now option, the item was valued at $420 and guess after i quit, who won, the same guy who kept bidding me and bidding me till i got to the amount that the item was actually worth and in the history it said that he only used 78 bids now how is that possible when he bid right alongside with me all the way and i spend $420 that is 700 bids plus 47 free bids i had so for a total of 747 bids $420 spent i had to fork our another $15 for shipping and handling. I do not believe in quibids anymore i needed that item was in the market for that item and i bought the item full price from quibids but from now on i rather go to ebay !!
 23rd of May, 2011 by   tavius0407 +1 Votes
However i do agree whoever thought of quibids is a smart man at 0.60 cents a bid and the bid only actually increases by a penny, not only quibids founder smart, there are also a lot of dumb people ( myself included ) who give in to the temptation of getting something cheap, next time you on quibids go to " recently completed " tabs under " quibids live auctions " pull down menu and see for yurself just actually how many TV and items worth a while they actually sell in a day at the price they advertise, also look at how much bidders bet, i recently saw a guy wasting 27 bids to win a 25 bid voucher haha, not only that you buy 100 bids for $60 then bid on the voucher pack themselves i mean WTF haha, quibids is selling you bids to bet on getting more bids from them, not a service not a good but pay money to spend money haha, i really shud have thought of that one first, damn i always miss out on everything :-)
 23rd of May, 2011 by   tavius0407 -1 Votes
If only all of America shud come toghether and let the first guy who bid the first cent way ahead of time let him be the winner, instead of trying to bid on the same thing and wasting money lets go find auctions ahead of time and claim em with 0.01 cent bid and every one else respect that, i mean they do have GOOD ITEMS for auctions every 2-3 hours, look ahead and claim your own, like first come first serve basis instead of let's see who got more money to keep on bidding haha, pass this along and may be one day America will catch up and be smarter and may we all end up 60" HD Tv with 3D and receivers and games and cameras haha ...lets start a revolution, instead of quibids an auction lets make it be a first come first served site ( if only ) *sigh*
 16th of Jun, 2011 by   MDBAKER 0 Votes
Most of you are correct as is the author in this blog. It is absolutly like gambling more than an auction and I relate it much to poker. You need to look at your item and where the majority of players maxed out their bids in recent closed auctions of the same item. This is one way to know your competitor. Never just jump right in. Always play only in the middle of the night and remember East Coast West Coast time frames to know that during that time there is the least amount of competition. If you see 8-20 bidders, leave! I only play when I see maybe 2-3 bidders. Watch to see if its the bid o matic running and watch from the start so you can count the bids. When using bid o matic, they limit you to only 25 uses so you know when you can get in the game with the best odds. Especially if you are new, only do the little auctions like $10-$100 gift cards, gas cards, etc that you can use. "DO YOUR RESEARCH BEFORE STARTING FOR THE FIRST TIME". I read numerous articles (just how I found this one) and watched a number of youtube videos for tips.

Last night was my first attempt. Using only 5 bids which cost me around $2.50 or so, I put only one bid on five sepperate items for just one penny each. Each item was a $100 Gas Card and were running at 3am PST so both cost lines were closed. Out of 5 (the max allowed to bid on when you are winning), I woke up this morning to see that I won 2 of 5 ! The total cost to me was 5 bids at around $2.50, $4 for shipping and 2 cents total for both wins costing me around $6.52 or so and I walked away with $200 worth of gas for my truck!

Not bad if you know how to work the system and are willing to spend some time researching. Keep in mind I only put these starter bids up with no bid o matic. Just 1 penny max and if anyone bid against me I would lose but took the odds nobody would bid at those hours and 2 out of 5, I was right. Also, the others I lost to took me by just pennies. 2 won me by only 1 penny, and one that I bid on which was a $200 gift certificate closed at .15 cents (14 bids above mine).

So far, I love it but then again, I love poker!
 9th of Mar, 2012 by   NotAFool101 +1 Votes
The Federal Government should shut this type of gambling down!
 10th of Mar, 2012 by   sheilashera 0 Votes
I agree with most of the comments. It is more like gambling. So how can they compare themselves to e-bay. With e-bay at least you get something in return when you win and don't have to put up any money to bid on items. They are making tons of money off people gambling and most people get nothing. For an example: Say that 10 people were bidding on a $50 gift card and each bid around 25 bids . That is 25 bids x .60 = $15 each x 10 people = $150 for a $50 item !! And a more extreem case is when the item sells for $25.00. That means 2500 people bid a penny so that is 2500x.60= $1500 for maybe a $300 or so prize. So one lucky person wins and the others get nothing in return. So it is a rip off and someone is making lots of money
 24th of Mar, 2012 by   Cygaurd 0 Votes
If it sounds too good to be true, one should exercise caution. Misleading and false advertisement is frequently used by major corporations and big and small businesses alike to rip off consumers 24/7/365/. The lure of obtaining expensive items dirt cheap, as advertised by Quibids, draws the suckers into the bidding site. Most bidders have no clue that the chances of winning an item and getting it for the falsely advertised price are slim to nil. Every business enterprise is entitled to make a profit by providing goods and services, but when businesses rig their system which only favors them and the poor consumers ultimately pay the high price. Any naive person will unwittingly participate in the bidding process with the hope of winning the bid like most of us are used to while bidding for items on E-bay. Obviously, it is nothing like that. Unless this company is exposed, consumers will continue to lose money in the hope of getting an item for the low advertised price. It is real shame that watchdog agencies allows this kind of operations to continue. This company should be required to provide full details of all items sold to real people and a complete record of its bidding system to make sure the operation is legit and the site provides a valuable service instead of an online casino where consumers are bound to lose. It is time to wake up America.
 19th of Aug, 2012 by   JUSTKILL963 0 Votes
THIS SITE SUCKS AT IS A TOTAL RIP OFF AND DON'T TRY IT IS JUST A BIG SCAM ONCE YOU BUY THE BIDS YOU NEED AND BID YOU PRETTY MUCH BOUGHT WHAT THE ORIGINAL PRICE OR MORE !!!
 7th of Apr, 2013 by   20paws 0 Votes
If it looks, smells and quacks like a duck...

Any fool knows that no business stays in business to sell items for pennies on the dollar. What they don't tell you in the very slick commercials with the hottie looking very skinny and sultry, is that each of their "pennies" equals $.60 of your money. The auction is not controlled by bidders -- it's controlled by robots who will force the price up at whatever increment they determine will make the most money for Quibids. In the end, you pay AT least as much and usually more, than the item actually costs. Oh -- don't forget taxes, shipping and handling.

This site, as all the penny auction sites, are nothing but ripoffs and should be investigated by the Consumer Protection Agency. Anyone who gives this site anything more than 1 star is either a fool or works for the company. STAY AWAY FROM QUIBIDS. Use eBay, where they have an independent 3rd party monitoring bids.
 30th of Apr, 2013 by   lili green 0 Votes
sorry to hear that, too crazy, I think you should select one professional seller, wagpual is one of top led strip light, outdoor, airsoft, mask goods 0.01USD freeshipping.they are factory to customer www.wagpual.com, I ordered from there 3 years
 7th of Aug, 2013 by   treasurelyfe804 0 Votes
This site is a total scam. I agree with everything you all have said. I went on there and watched the news clip they have online. I can't believe these so called news organizations even promoted this crap. I just goes to show us al the site is corrupt and so is the news.

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