>>>So is QuiBids a Scam?
When one comes to the point to ask that question, the answer has to be “Yes” until proven otherwise in my book.
Sounds more like gambling.
For a $20 item, it takes a winning bid of about $0.33 for QuiBid to break about even. If that same item sells for $1.00, QuiBid nets $41.00.
They make their money (if any), because people keep trying to get something else for a penny more, forgetting that each attempt costs them 60 times that much.
Disclaimer -- I have not used QuiBid, but have decided to avoid it.
I don’t understand which bidder wins - the one with the most number of bids or the last bidder?
None of the “penny auctions” are actually auctions. Every one of them is essentially a lottery: the more tickets you buy, the greater your chance of winning, and if you don’t win, you don’t get any of your money back.
In effect, all penny “auctions” are gambling and they should all be outlawed.
Total scam for sure. They use fictitious bidders who keep pumping up prices and it costs 61 cents for every penny increase when you bid.
Stay FAR away from that website! I researched them about a month ago and they’re definitely NOT a legit and honest business.