QUIBIDS.com is an Internet "penny auction" site. They tell you that if you do not win the item you bid on, you can apply all the money you bid on the item to the purchase price or the "Retail Value" of the item. What they do not tell you is that what their "retail value price" is A LOT (sometimes twice as much) as the real retail value. For example, an Ipad that you can buy from Apple or Best Buy for $499, they say the"retail value" is $730. When I wrote them about this, they claim it is because the item is "very hard to get." First of all, even if that was true (which it is not), why would that make the price so high. Secondly, I purchased the item the next day for $499 with no problem from Apple and a friend bought one from Best Buy for $499.instead of telling you the truth, they make it sound like any money you spend can be applied to the "buy now" price. Unfortunately, they never tell you that THEIR retail price is totally made up by them and has nothing to do with what the item costs anywhere else. The reason I bought all the bids that I did was I planned on applying that money towards a purchase. However, not at a total rip off price. I am now stuck with all these bids I bought and sice I do not like to gamble, I have no where to use them. They are dishonest and i would stay away from them at all cost.
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