Find out the latest news that Bid-Ninja is aware of regarding Quibids and what they’re doing with their site.
Online Auction Trends
Online auctions have grown in popularity since eBay was founded in 1995. While eBay has become a household name and other traditional auction houses, including giants Sotheby’s and Christie’s have joined the party, perhaps the most exciting space in online auctions is penny auctions. The prospect of saving money is certainly a primary objective for consumers who participate in any online auction. Entertainment is an equally strong motivation for many online auction participants. For these individuals, penny auctions offer highly competitive, fast-paced live auctions around the clock that are uber entertaining.
Like all industries, market demand determines winners and losers. While quite a few penny auctions that have come and gone – most notably– Beezid (you may remember this is the company that paid $25,000 for Lindsey Lohan’s 14-second YouTube ad while she was under house arrest), two mainstays, DealDash and QuiBids are the undeniable penny auction leaders. Both companies have been around since 2009, have loyal customer bases, and appear to be sound companies. For years QuiBids was the largest penny auction site until 2016, when DealDash overtook QuiBids in the United States.
How Do Penny Auctions Work?
Unlike, traditional auctions, penny auctions are pay-to-play, meaning that users need to purchase bids ahead of time then use one bid for every new bid placed. All penny auctions start at $0 and there is an auction counter that lets all players know when the auction is scheduled to close. Every bid a user places subtracts one bid from his/her balance and increases the price of the auction one penny. In a penny auction, once the auction timer reaches 10 seconds remaining, every bid will reset the timer 10 seconds. Each player must then decide in this short 10 second window whether to place a new bid to outbid the previous high bidder. If no new bids are placed, the final bidder wins the penny auction at the final sales price. Sounds easy, but it’s not.
Winning on DealDash and QuiBids
Both websites have two features designed to prevent a user from leaving empty-handed. A Buy-It-Now option allows bidders who do not win an auction to purchase the item outright and get all their bids back! Essentially, the user gets the item for the listed price and all bids spent in that auction are returned to the user’s account. Terms vary, so check out the links describing how the DealDash Buy-It-Now and QuiBids Buy-It-Now work.
The bottom line is that if you want to win more auctions on DealDash and QuiBids, you’ll need to thoroughly educate yourself on the nuances of each site, the products being auctioned, and knowing your competition (i.e., the other players). It may sound cliché, but a little homework goes a long way towards winning more auctions.
Another cool program designed to reassure new players, is a guarantee to win program. Like the Buy-It-Now feature, the guarantee to win terms do vary by site. Again, it’s best to take a look for yourself at DealDash Guarantee and QuiBids Guarantee.
When it comes to playing online penny auctions, I’d like to offer a caveat. Most penny auctions players will experience a full spectrum of emotions, ranging from absolute joy and exhilaration after winning to utter disappointment after just missing out. While these emotions may be felt after winning/losing a traditional auction, these feelings are much more pronounced in penny auctions – in my opinion. Perhaps the tagline from ABC’s Wide World of Sports sums it up best: The thrill of victory and the agony of defeat!
Stay tuned, in our next blog post we’ll get into the product-mix offered by DealDash and QuiBids, respectively. Product-mix is probably the most important factor when deciding which online penny auction site to play.
Happy Bidding Fellow Bid-Ninjas!
Quibids is once again having its “Mega Bid Voucher Auction” promotion.
(In addition to this special auction, Quibids also released a coupon code for 5 free bids!)
In honor of this occasion, Bid-Ninja is having our annual YEAR END SALE! All Bid-Ninja subscription plans have been reduced by 33%. If you’re interested: click here.
In addition, use the coupon code below to get 5 free bids on Quibids. While the 1000 mega bid pack and 500 mega bid pack auctions ended yesterday, the coupon code is still valid to redeem the five free bids. No purchase necessary.
The only rules are that you have to have at some point purchased a bid pack, and you have to use the code before January 2nd, 2015 (it’s expiration date).
To redeem the code, log into your QuiBids account and then visit the Quibids “Redeem Coupon” page here and then enter the code:
Here is a picture of the email they sent out:
Good luck in the auctions!
The Bid-Ninja Team
Quibids has just announced that they are giving away a brand new 2013 Ford Focus completely for free!
If ever there were a time to leverage Bid-Ninja (whether it be the Analytics or the AutoBidder) it’s now!
Read about how and when Quibids plans on giving away the car here and be sure you have Bid-Ninja on auction day.
They’re letting anybody who has ever purchased a bid pack bid on the auction at absolutely zero cost by giving each bidder 5 free bids to use. In addition to that, the winning bidder will NOT have to pay the final cost of the auction which makes the car (for the winner) 100% completely and totally free.
We’re pretty psyched about this, as it’s by far the coolest type of promotion they’ve done bar none.
So if you were looking for something to do come this Cyber Monday, make sure placing some free bids for a free car is on your list!
QuiBids announces it made the Metro50 awards list by the Oklahoma City Chamber of Commerce. Metro50 is an annual event held by the Oklahoma City Chamber and is known to be one of the city’s most prestigious events. This event recognizes the fifty fastest growing, privately-owned companies for the year, based on their percentage of annual growth.
“This is an amazing award and one that we’re pleased to accept,” said QuiBids CEO, Matt Beckham. “We’ve waited a long time for this award and look forward to celebrating with all the other honorees.” The Metro50 will be held on Monday, September 23 at the National Cowboy and Western Heritage Museum at an awards banquet. The official Metro50 rankings will be unveiled that evening by Mayor Mick Cornett.
Over the years, QuiBids has grown from five to 120+ employees, offering its services in eight countries and expanding, and continues to strive for excellence in its industry. It is paving the way of online entertainment shopping through a unique and fun business model. See QuiBids LinkedIn page for additional company information.
“QuiBids has faced many obstacles and has been a fun challenge,” said Beckham. “Knowing we made the Metro50 list with another 49 outstanding companies is not only exciting, it’s humbling too. We know all the employees at QuiBids have contributed to its success and we’re honored to have the staff that we do.”
The Metro 50 Award allows both emerging companies, as well as companies that have exhibited a substantial history as an established business, to be recognized. All those on the Metro 50 list demonstrate positive growth in revenues; growth in the number of employees; creativity/entrepreneurship; and business development through the expansion of facilities, customer base or markets.
QuiBids is an online entertainment retail auction site that launched in October of 2009 with the mission to be the most fun way to get what you want online. Their live auctions are more exciting, reliable and safer than other online auction websites. QuiBids has been a Better Business Bureau (BBB) accredited business since 2010 and has had its bidding and shipping processes voluntarily examined by Grant Thornton.
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- Penny Auction TrendsNovember 15, 2018 - 7:16 am
Online Auction Trends Online auctions have grown in popularity since eBay was founded in 1995. While eBay has become a household name and other traditional auction houses, including giants Sotheby’s and Christie’s have joined the party, perhaps the most exciting space in online auctions is penny auctions. The prospect of saving money is certainly a […]
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