Anybody using that new "QuiBids" website?

[Sam_Boss260]

Anybody using this new online webstore, or is it too good to be true?

[xisled]

On that site, you pay for each bid. It may take you 1000 bids to win the item. You do get the item for the cheaper price, but 5000 people could have bidded on the item and each bid cost x amount.

[Yellow_Festiva]

Biggest scam ever.... Read the review's. Don't even bother.

[Spudz27]

Each 1c bid costs you a dollar. If your lucky you get in at the right time, but that mac book pro you won for $60 netted the company waaaaaaaaaaaayyyyyyyyyyy more than a new one costs. Those who are not smart enough get sucked in and can often spend almost as much as a new one to try and win.

[Yellow_Festiva]

I think 1c = 60c . When you sign up they take CC details for security then deduct $80. Like I said, the reviews are an interesting read. Either way, run a mile.

[Yellow_Festiva]

Double post.

[STINKY NINJA]

Good info,they have been thrashing the quibids add hard on foxtel for a while now and ive been meaning to have a look but ill give it a miss now

[Dusty1]

Lady is pleasant on the eye, though.

[Auslandau]

It shouldn't be called an Auction as you are really are buying 'tickets' to hopefully win a product. It is very close to a scam .....

This sums things up.

It is ingenious how QuiBids have found a way to run a casino without it appearing like a casino.

The "occasional" story of the $500.00 iPad that was bought for $90.00. Here is a scenario showing the numbers - a) 450 bidders b) each bid costs 60 cents and c) bids go in increments of 1 cent. When the Ipad hits $90 there have been a total of 9000 bids placed at 60 cents a bid. The company has therefore sold the $500 ipad for $5400 and has essentially skimmed $12.00 in bids off 450 people. Nobody complains because they only lost about $12.00 each and they were all aware of the rules. Essentially the winning bidder may have in fact placed $12.00 in bids to get the item for $90 so all up the winning bidder paid $112, oh yes - plus your $60 joining fee and the postage.

An auction that charges to bid should not be called an auction. The concept of an auction is not based on the premise that you pay to be there.

If you want to use QuiBids, be fully aware that you are essentially playing the role of "The Mark".

This is basically a modern version of the Carnival wheel, where everyone buys a cheap ticket to win a radio. They only spin the wheel when they have sold enough tickets to cover the cost of the radio and other prizes with plenty of profit.

http://www.productreview.com.au/p/quibids.html

[burnz]

Originally Posted by Auslandau

It shouldn't be called an Auction as you are really are buying 'tickets' to hopefully win a product. It is very close to a scam .....

This sums things up.

so where is the ACCC in all this?

[Yellow_Festiva]

Originally Posted by burnz

so where is the ACCC in all this?

From what I have read the ACCC can't act as the way it works is explained on the site, and the joining fee that isn't obvious when signing up is probably mentioned in the 4-5 pages of fine print no one ever reads when they sign up.

[Auslandau]

It is legit ..... as said, close to being a scam.

If you are bidding for an Ipad you have a 1 in 500 chance of 'winning' the product with that many bids placed. It is a form of gambling but very cleverly done must say. I did look into it and the further you read you get into the nitty grittys it ain't quite cochure

[TheSneakiness]

My mother in law was keen on it until she was told you actually pay cash to "bid". She quickly said no after that.

[benoxr]

Sounds just like your everyday raffle ticket. 100,000 tickets sold for 1 dollar each. You can buy as many tickets (bids?) you want in order to win a prize. First prize may only be $2000 cash. So you get the first prize cheap but some company makes a huge profit on all the tickets sold. Possibly I have that all wrong but that's what it sounds like.

[Kryton]

Had a look and funnily enough, you cant sell anything.
You can only buy the crap THEY are selling.

[XR6T0Y]

I 'won' an e reader for 7c. In total, cost me about 89$ once set up was complete etc. Saw it before all the adds came on TV. Was only a 70$ e reader as well

[GazzF6]

Stay away, very clever how they have set this up.... I reckon they must be making a fortune, this system is better than any Casino at taking money!

[mostly_broncos]

From what I've heard they give you a certain number of free bids when you join.

You are probably allowed to "win" something worth less than the joining fee using your free bids which sucks people into bidding more.

[neptune blue]

As already stated many times.....its a crock!

[Tysonv48]

Yahoo Answers
it may seem like a great deal, but in reality, it's robbery. it goes up by 1 cent with each bid, so something that ends up selling for 20 dollars ends up making 1220 dollars (2000 * .60 = 1200 + 20 = 1220). it's brilliant. it looks like it's a great deal because an hdtv costs 10 bucks to win, but put in all the bids, and it ends up being hundreds of dollars.

Plus they offer you the product at retail if you do not win the option, so they buy in bulk and make profit after the auction as well.

On top of that quibids is us based so postage on a 27" iMac would be quite high.

[jmac]

sif you couldnt tell it was rigged by the dodgy ads that are only on late at night.