QuiBids is the current online penny auction industry leader and one of the largest and most popular auction sites existing today.  The US based company out of Oklahoma City, Oklahoma has been online since 2009.  During this short amount of time, they have quickly demanded the attention of the penny auction audience and driven many competitors out of business with their desirable features.  Read on to learn more about QuiBids’ unique aspects that may explain their popularity.

Prizes

QuiBids has a large product variety which means it can attract a lot of different players.  Many of these items are some of the hottest on store shelves today.  Every prize is guaranteed new, factory sealed and with the warranty included if applicable, so you know you are not getting used merchandise.  Some of the great deals QuiBids boasts are at least 95% off retail on electronics like Samsung 3DTVs and brand new MacBook Pros.  They have also been known to auction off special experiences, like vacations to the Caribbean or trips to the NCAA finals.  Other everyday items include Cuisinart cookpiece sets, Dyson vacuums and KitchenAid mixers.

Reduced risk with the Buy It Now feature

One of QuiBids unique attractions is the Buy It Now option which exists on every one of their auctions.

The competing sites either don’t use a But It Now feature at all or it is on limited auctions.  This option gives those who don’t win their QuiBids auction an opportunity to purchase the product at the retail price less the amount they have already spent on unsuccessful bids.  The risk for players is greatly reduced on QuiBids because of this feature.

Bid Pack pricing

QuiBids has competitive pricing and currently offers bids at 60 cents each.  This is priced below the industry standard of 70 cents per bid.

Promotions and specials

QuiBids frequently gives opportunities to earn free bids by having contests on Facebook, promotions for using certain features on their site like Autobid and by rolling out their new QuiBids Achievements addition.  QuiBids Achievements is a reward system that allows you to earn more bids, set goals and, frankly, brag about your skills on QuiBids by displaying ‘badges’ you have won.  Also, for those new to penny auctions, QuiBids offers beginners auctions.  They are only open to new players who have yet to win an auction and offer newbies a chance to strengthen their bidding skills and confidence in the game.

Better Business Bureau

In an effort to maintain transparency with existing and potential players, QuiBids heavily promotes their A rating from the Better Business Bureau.  It is an achievement to be applauded considering QuiBids is so large and the smaller online auction sites have not attained this.  One reason for the great standing is their dedicated customer service staff who work hard to resolve any complaints or issues.

There is a drawback to all of the positive features of QuiBids.  Because they are so popular, there is a lot of competition on this site.  This makes it harder to win auctions, especially the ones with exciting products that have a higher retail price.  For certain products, like gift cards, it may better serve bidders to go to smaller penny auction sites with less traffic.

All that being said, QuiBids has a nice model for online penny auction sites to follow.  The question is, will the other sites be able to last with this stiff competition?  I guess that remains to be seen.

To visit QuiBids please click here, to see other penny auction reviews click here.