Thursday, March 17, 2011

If it sounds too good to be true...

It probably is.  I believe that.  However, once in awhile when it seems too good to be true, it turns out to be true anyhow.  I'll tell you about my experience this morning, but the story won't be confirmed for a few days, not until I receive the goods.  That's when we'll really know.  
I discovered QuiBids this morning.  You pay for some bids ahead of time, then use those bids on items you want, at a cost of sixty cents per bid.  
Folks, this is not the sort of risk I usually take, but after watching a news clip about it, I purchased $60 worth of bidding power.  
"Cliff is going to kill me for this," I thought.  "But I have to try it."  
I looked the site over to see what was up for grabs and decided not to even attempt the Macbook Pro or the huge flat-screen television.  
Most of you have read here about my need of a new Canon Powershot SD camera, right?  I've put off buying one, waiting for a spare $110 to show up in my checking account.  There was one of those up for auction, and I decided to get my feet wet.  I clicked, was outbid, and clicked again (at a cost of sixty cents per click).  
Eventually I won, so I got the very camera I was going to buy anyhow; it should show up in the next five days or so.  It cost me exactly $11.07, including shipping and handling.  New.  In the box.  
At worst, you could say it cost me $11.07 plus the sixty bucks I spent on bids, but I still have most of those left to use on something else.  So it's still a bargain.  
But wait, I wasn't done:  I decided to stick with the cheaper items (because I figured I'd have a better chance at winning those) and got a $15 Walmart gift card for $2.12 (that's with shipping and handling added).  
Then I did a penny auction that won me fifteen free bids for one cent... plus a buck handling charge.  OK, so that one might not have been such a deal; if it cost me $1.01, it isn't free.  Live and learn.
Luckily, they only let you win three items a day (twelve in one month), because I can see where this could be addictive, and I'm sure if I got too big for my britches, I'd end up losing.  Once Cliff reads about this, I'll guarantee you he'll be keeping me accountable.
The way they can afford to let you have an $1,100 computer for $27 is that there are all these people bidding, at sixty cents per bid; the site has no problem making money off this thing.  

I did some searches about QuiBids.  There's a item HERE explaining how they make their money.   
You can read HERE some guy pushing, another similar auction site.  I'm sure there are many others.  I'm going to dance with the one I started with and see if I come out ahead.  I'll bet if I stick to $15 Walmart gift cards, I'll do OK.  


I'm mostly known as 'MA' said...

This may be your Lucky Day! It will be interesting to see if you really get it! You must have a little bit of Irish in you. Happy St. Patrick's Day!

Michaele said...

Oh that does sound hugely addicting. And hugely smart of the folks that started it up.

Margaret said...

I'm glad my mom doesn't have internet; she loves a bargain and would get very addicted. It sounds interesting, but I'm too scared of getting scammed.

Your son said...

I was checking out this type of auction also, and found that some (Beezid is one) use shill bidders at the end of the auction to keep it going. Since it's not like ebay, the auction runs untill all bidders quit. They are making their money off selling bids rather than the merchandise. In some cases it's huge proffit.

darev2005 said...

You should get you one of those pre-loadable credit cards like they sell at Walmart. Put say, a hundred dollars on it. Then you won't be tempted to go beyond your means. I'm going to start doing that for ebay. Leery about having my credit card numbers floating around out there anyway.

Anonymous said...


Lori said...

I will have to check this out!