8 responses

  1. DoNotWait
    December 15, 2010

    Sorry but I never used penny auctions and want to make sure I understood well. If I want to bid on something, I end up paying 61 cents to add a cent to the price of the article. Is that correct? So the example of the Macbook you gave would have cost me $50.60, right?

    Reply

    • Kevin
      December 15, 2010

      in the beginning when you sign up for an account what you do is buy a pack of bids and the price is 60 cents per bid. So for a pack of 80 bids it would cost you $48. If you bid once on the Macbook and won, you would have used 1 of those bids which was 60 cents and then you would have to pay whatever the winning bid price was. So yes to your answer but that 60 cents would have been paid for before the auction. Does that answer your question?

      Reply

  2. DoNotWait
    December 15, 2010

    Yes, thank you! I found it very interesting. I heard of it before but did not know how they could make money out of it. I guess if we follow your tips, it can result in very nice deals.

    Reply

  3. retirebyforty
    December 15, 2010

    Sounds like a rip off to me…
    60 cents per bid is too much. If it was like a dime, then maybe.

    Reply

    • Kevin
      December 16, 2010

      I would agree with you

      Reply

  4. Fred the Penny Auctions Master
    April 22, 2011

    I won a lot of stuff from Quibids, the trick is to have a lot of bids and stick to one auction.

    Reply

  5. HomeJobs
    June 26, 2011

    This is a very helpful article. I have been interested in trying penny auctions out, but this gives me answers to questions I had about the “inside” dealings.
    You put it out there in a way that is easy to understand too- way to go!

    Reply

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