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Profiting with Quibids (penny auction site)

Discussion in 'Making Money' started by webhosting, Jun 16, 2013.

  1. webhosting

    webhosting Regular Member

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    This may be old news, but I figured I'd open a thread regarding the site.

    If you're familiar with penny auction sites, you know it's kind of a lottery. You typically spend $0.60 per bid and the price of the auction goes up by $0.01. Meanwhile the clock increases by 10 or 15 seconds. When the timer runs out, you win. Nothing new here.

    I'm sure many of you who are familiar with Quibids or other penny auction sites, you've probably noticed a buy-it-now option. Quibids puts all bids you purchased towards the buy-it-now price. So, you don't lose any money if you decide to buy the product in the end. So where am I going with this?

    I recently won a $50 gift card to Sunoco and saved around 34% after you count bids etc. That's not always the case though, sometimes I don't save any money and I just buy-it-now and sell it or use it. Breaking even is possible if you decide to buy the item after you have exhausted all of your bids. I've been able to make an okay profit using the site. Is anyone else doing this and is this a sustainable method?
     
  2. SkyrocketSEO

    SkyrocketSEO Jr. VIP Jr. VIP Premium Member

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    It's sustainable for Quibids, that's fo sho
     
  3. webhosting

    webhosting Regular Member

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    No doubt. They are making quite a large amount on all of their items.
     
  4. ContentLockPro

    ContentLockPro Power Member Premium Member

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    It's more like a lottery not the money making method. But you can also make money off the guys who inspired by all those statistics and would like to get in to the network so you can get their commission per each sale.