The Reality behind Penny Auctions: Is Zbiddy a scam? Is Zbiddy legit?

There are many ways to find bargains on the Internet but the most exciting way is through a penny auction. Penny auctions combine the excitement of auctions as well as the huge discounts of bargain sales. There are a lot of penny auction sites on the Internet and one of the more popular ones is Zbiddy. Zbiddy offers some of the best priced items on the Internet with discounts reaching as much as 50% or more. This prices are so low that other are asking is Zbiddy a scam? Is Zbiddy legit?  To answer this question, it is important to know how penny auctions work and how Zbiddy is able to earn some profit.

The Mechanics of a penny auction

In a regular auction, bidders will bid using actual money and only the winner bidder will shell out some cash. IF you do not win an auction then you do not need to pay anything. In a penny auction on the other hand, in order for you to bid you will need to buy some bid credits. In the case of Zbiddy, a single bid credit is equivalent to $.60 and it is available in different packages from a set of 45 to 800 bids. After buying your bid credits, you can then bid on an item. The last person to bid after the biding time expires wins the item and will pay the closing amount.

Why Zbiddy prices are low?

As you can see from the example above, penny auction sites like Zbiddy do not rely on the item price in order to earn a profit. Instead, they earn form the bid credits that was purchased. In fact they want to keep the prices of their items lower in order to entice more people to bid. For example, a camera which retails for $30 in a store may end at $15 in Zbiddy. That's a $15 loss if it was an actual auction but since it is a penny auction we must take a look at the number of bids that were placed. Let’s say 100 bids were placed. At $0.60 per bid that a $60profit just from the bids alone. 

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What's the Catch When It Comes to Quibids?

Qui-Bids is a penny auction site that allows you to bid on items for at least 60 cents or so. If you're the last bidder by the time the timer runs out, the item is yours. However, the catch is that the more you bid, the more seconds are added to the timer. A minute or ten minutes might be added to the timer as long as people want to bid on the item that caught your eye. If you really want to buy the item from Quibids without getting into a bidding war, then you have the option to click "Buy Now". The items put up for auction on Qui-Bids are brand new and sealed, so you have the option to sell them to make a profit as well. Whichever route you take, you'll always end up saying a lot of money.

What's the Catch When It Comes to Qui-Bids?

·         Even after hearing about the additional time added per bid, quite a lot of people are still curious what's the real catch regarding the site, specifically in terms of whether or not you'll really save a lot of money from bidding and purchasing items off of the site. Low prices are fine and good, but people also have the right to know how safe they are from scams.

·         Let's set the record straight. Qui-Bids is not and has never been a scam site. You can report the page to the BBB (Better Business Bureau) all you want, and the answer will still be the same; there won't be any indication of scamming and the business itself is BBB-approved. Things that are too good to be true usually aren't, but Qui-Bids isn't too good to be true.

·         Many scams claim you'll get quite a lot with nothing in return, but that's not the case with Qui-Bids at all. Qui-Bids will be getting something in return from all the bids that people make on the site, particularly when they're all combined. Even 60-cent bids, when combined, can earn the site quite a lot off profit. 

      

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