Quibids is an online auction website that functions as a typical penny auction or pay-to-play website. Quibids.com is one of the largest penny auctions today and to some, one of the most competitive. Quibids is one of the better-known penny auctions as a result of their frequent television and radio advertisements.
How Quibids Works
- Users sign-up and buy bids. Bids are bought in packages and each bid allows the users to place one bid on an auction.
- A clock counts down as users bid on an item
- Toward the end of each auction, each new bid adds time to the clock
- Each bid that is placed raises the auction prices by one penny
- The winner of the auction is the person who places the last bid before the clock runs out
- The winner has to buy the auction item at the final auction price
Features of Quibids Auctions
- Users can utilize bought bids to participate in auctions.
- Auction timer counts-down to :20 and then each bid reset the timer back to :20.
- Auctions that persist beyond and certain (undertermined) number of bids then switch to a :15 interval.
- ‘Buy now’ feature allows auction participants to apply any auction bids towards the purchase of the auction item.
- Quibids Games is an interesting feature where users can bid on and win ‘gameplays’ which, in-turn, allows users to win more bids.
- Bid-O-Matic is Quibids automatic bidding tool which allows users to automate their bidding.
Editor’s note: Quibids is one of the more well-known penny auctions but by many reports, becomes difficult to win after users have won an auction or two.