How Does Quibids Work?

Answering questions like: Is Quibids a scam? Is Quibids real? How does Quibids work?

Question:

How does QuiBids Work?

Short Answer:

Quibids works like any other penny auction web site. You pay money for bids and incrementally raise the price of a desired item. For more info on penny auctions, read the answer to "What are Penny Auctions?"

Long Answer:

Quibids works like most other penny auction sites. Advertisements highlight deep discounts on new products, but only a fraction of the customers can ever receive these discounts. The majority of users end up contributing money to the cost of the product so Quibids (or any other penny auction site) can afford to give a deep discount on the product. This is the crux behind penny auctions. To get a comprehensive understanding about Quibids or other penny auction sites it is important to learn the basics of penny auctions. First read, "What are Penny Auctions?" then you will have a pretty good understanding of their business model.

Related Questions:

What Are Penny Auctions?

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