Quibids auction quibids.com Misleading, if not fraud, Internet

The second misleading tactic is the belief that you (the one bidding) actually stand a good chance of winning a bid. You do not. The winner is someone who is willing to spend an exhaustive amount of time and money monitoring an item. By contrast, consider a real auction. You say you'll pay X amount for an item. Someone else says they'll pay Y amount. And so on. Very rapidly you come to a market price for the item. In the case of quibids, you must pay for every single bid and you are limited to only increasing the price by 1 or 2 cents. To put it another way, the winner is required to invest considerable amounts of time and money just to "win." Example: let us consider an item I recently attempted to "win" on quibids. It was an iPad. The bidding war went on for at LEAST 27 hours (which is when I began watching it...who knows how long it was going on prior to that). If you were a prospective bidder when it started that meant you would have had to keep bidding on it non-stop for over a day and night before you stood a chance of winning. There is no reasonable rationale for allowing a bidding war to continue for that length of time.

The third misleading tactic is their "Buy It Now" option. Soothes your wounds, right? Wrong! This just proves they're a gambling outfit. People get sucked in with the concept that quibids is an "auction." This implies they can bid and win on something that they couldn't afford otherwise.