What is QuiBids?
QuiBids penny auction site provides bidders (or players) a chance to win highly-prized consumer items such as iPhones, iPads, jewelry or clothes at a sizable discount off the retail price. Bidding commences in increments of one cent, and each time a bid is placed, it will be deducted from the remaining bids in the participant’s account. After each bid, the timer is reset back to 10 or 20 seconds (depending on the auction). The winner is the last person to have placed a bid when the timer reaches zero and the auction ends.
Since its establishment, Quibids has attracted a number of bidders who have implemented successful strategies and developed into professional QuiBidders – also known as power-bidders. These individuals have mastered the art of the auction bidding, many of which use penny auction software such as Bid Ninja. The Bid Ninja App gives its users vital information such as win-rates and net gains and losses of competing players, which bidder is running out of bids, total bids used and more – all in real time.
Here is a video of the Bid-Ninja software in action:
Quibids Winning Strategies
Penny auction players who participate in auctions must set realistic expectations and develop sound strategies. Adhering to a sensible spending limit will enhance the auction experience and ensure he or she does not incur unnecessary expenditure. There’s a fine line between being an aggressive bidder and a scorched earth strategy.
Bidding by volume can be problematic. This strategy requires very aggressive bidding to “scare off” all others. Firstly, to sustain it requires lots of money. This strategy may instill resentment within the QuiBids’ community and place a target on this player’s back – metaphorically speaking, of course!
Jumping an Auction
Entails locating “hidden” Quibids penny auctions. Often these auctions are for premium items such as iPhones and have less bidders because they occur during rush hour. Sounds funny, but its logical. During rush hour, people are busy travelling in cars, buses, trains, and even airplanes. Astute players take advantage of playing during these “slow” periods where the odds of winning are higher. To learn more about this strategy, check out our blog post how to properly jump an auction on Quibids.
The goal with here is to wait until very late in an auction to begin bidding. The strategy requires some experience playing penny auctions and the ability to recognize when an auction is about to close. Two indicators of an auction’s pending closure are known as Hot Price (HP) and Very Hot Price (VHP). The HP of an auction is the point at which 84.1% of all previous auctions closed for a given item; the VHP occurs at 97.7%. For example, an auction reaching HP suggests the final price is getting closer; whereas one reaching VHP could close within seconds. While the percentages may seem random, these analytics are derived from analyzing years of similar auctions and generally quite accurate. Bid-Ninja’s color-coded bar clearly displays pricing thresholds that makes sniping a Quibids winning strategy.
Bidding by Group
While some players choose to be a Jack of All Trades, others prefer to master 1-2 auction groups. The strategy here is to become an expert on like products, such as gift cards, electronics, or appliances. Alternatively, products can be grouped together by value. In this case, you could focus on high-end or inexpensive items. Regardless which group, the logic here is someone who is thoroughly knowledgeable about a particular category of products will be more successful in the long run.
In summary, Quibids players who take the time to develop and implement good auction strategies are more likely to achieve success.