ED Magedson – Founder
They say that the worst odds in gambling are slot machines. I would have agreed until I found the Quibids.com website.
This website charges .60 cents per bid and bids must be purchased in advance. Each time a bidder places a bid it costs the bidder .60. The auction increases in time by randon seconds on each bid. This can cause the auction to go on for hours depending on how many bidders there are.
Since the prices on the items increase by only a few pennies, it makes people think that they are getting the item at a very cheap price if they win. Many nice items go for very small amounts of money. What one does not realize is that they can bid for long periods of time and lose .60 cents on every bid they place.
The chances of winning the auction are based on how many bidders there are which keeps adding time for more bidding. Auctions with only seconds remaining can go on for many, many hours.
If one is lucky enough to hit the auction at just the right moment they can certainly end up with some good stuff at great prices......but counting on that is like counting on hitting the mega millions lottery.
So, if you are a fan of throwing away you money on games of chance then I say Quibids is the site for you. If you are looking for a solid opportunity to aquire products at a reasonable price then I suggest you do not use Quibids.com
I strongly caution anyone to avoid Quibids.com or be prepared to over all pay far to much for far to little.
This report was posted on Ripoff Report on 12/02/2009 10:17 PM and is a permanent record located here: http://www.ripoffreport.com/reports/quibids-llc/internet/internet-fraudquibids-llcquibids-llc-a-cunning-ripoff-4468chtm-532709. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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