If you've watched television recently, you may have seen a handful of companies advertising penny bidding sites. One, called Qui Bids, says it offers members the opportunity to secure expensive products for just a few cents. Unfortunately, you donít have to look far to find complaints regarding more than one QuiBids scam. Before you spend even one cent at this site, read this online auction review.
How does QuiBids.com work?
Like Skoreit and Beezid, which employ similar penny auction business models, Qui Bids allows members to compete for the right to buy merchandise; however, to do this, consumers must first purchase bids using actual money.
Each time you bid on an item, you lose your bid and the money you spent on it. What's more, even if you don't win the online auction, you still lose your money. More like gambling than an actual online auction, the QuiBids scam allows the company to reap huge profits at the expense of its members. Though a product might sell for only a few dollars, Qui Bids may earn thousands from bidders who failed to win the item.
Is QuiBids legit?
Technically, there's nothing illegal about the Qui Bid business model; however, there are a large number of reviews suggesting that the company uses shills or bots to make fake bids that force members to keep bidding on any one online auction.
It's not known if QuiBids.com actually uses this strategy to rip off its members; however, since the company doesn't use any sort of third-party monitoring system, it probably pays to be cautious.
Although there's no way to know if QuiBids.com tries to scam members by making false bids, it's clear that the company does mislead consumers. That being said, though this QuiBids review is negative, the site may offer some level of entertainment to those who like to take risks. Just remember that this program is less like an online auction and more like a game you might find at a casino.