I just found out today that the popular site QuiBids.com is based out of OKC. They office in Valliance Tower. QuiBids is the nations largest penny auction site and has been featured many times in the national media.

They were featured a few months ago on CNet, but I can't find the story now.

Do some Google searches on them and you'll find lots of people who are pretty convinced (as am I) they are a scam (or at least very misleading).

http://asapmacpc.com/warning-quibid-swoopo-auction-sites/

Here is where they get it wrong a little bit.


everyone else bidding on the item has also paid 60 cents per bid – probably hundreds of bids each on average – and they got nothing for their bid money – zilch

You can use the money you spent trying to bid as credit towards buying the item at retail value. If it is something you were going to buy anyhow you don't actually lose anything. The bid process is actually a loss-leader just like any other retail store that has a sale.

Here is where they get it wrong a little bit.



You can use the money you spent trying to bid as credit towards buying the item at retail value. If it is something you were going to buy anyhow you don't actually lose anything. The bid process is actually a loss-leader just like any other retail store that has a sale.

Not really 'wrong.' Many people online complain that the price they can buy the item may be 'retail value' but its the manufacturer's SUGGESTED retail value - not what you would actually pay at the store. So, yes, you do LOSE. Also, you've got it wrong - the item being bid on is NOT a loss leader. They makes tons of money on that item. They rely on your 'thinking' to make a profit.

Also, the local CEO of Quibids also has ties to diet scam websites. I actually have a file on this company from a prior project. He's gotten better, but in the beginning he and his company were very sloppy at hiding their business practices. The other websites he owns changed their owner status to private in recent years to hide the connection.

My next prediction is that someone claiming to be an employee will find this thread and start posting propaganda (this is a common practice of theirs). The posts are actually from the CEO and/or PR staffer.

I'm not really knocking them. Its a legal business and it makes alot of money. I'm just warning people it is not what it appears and you will lose money.

I'm not really knocking them. Its a legal business and it makes alot of money. I'm just warning people it is not what it appears and you will lose money.

You will only lose money if you bid on things that you don't really want or if their 'buy it now' price is higher than your local retail store. Don't do those two things and you win every time. It is no more complicated than that. However, as crazy as it sounds, some people were just born to lose.

While I was playing roulette in Vegas a guy came in, got $100 worth of chips and started placing random bets. The problem was that his 'bets' cost more than he could possibly win so he was a guaranteed loser every time. In 15 minutes he went through $1,000, and started yelling at attendant for cheating him out of the $1,000. Betting on Red AND Black caused him to lose, not the attendant.

.... and people shouldn't go to Vegas or buy lottery tickets if they didn't just plan on throwing the money away anyway ..... but we both know it doesn't work that way in real life. But, there is often no fixing 'stupid' and stupid customers is what their business model is counting on.

.... and people shouldn't go to Vegas or buy lottery tickets if they didn't just plan on throwing the money away anyway ..... but we both know it doesn't work that way in real life. But, there is often no fixing 'stupid' and stupid customers is what their business model is counting on.

Just like the state lottery is for people that aren't good at math. However, if the state said you could use your $1 losing ticket as a $1 credit on your taxes, lottery sales would be through the roof. Hell, I would even buy them. After all, I am going to be paying taxes anyhow, I might as well see if I can make a few bucks while doing so. Of course, there would still be people that throw away their losing tickets.