You are charged $0.60 each bid, and this seems like a way for the company to break even. Each bid is either 1 or 2 cents increments. 1 dollar of bidding is either $60.00 @ 1cent or $30.00 @ 2 cents. So when you see an iPad2 or Playstation three for "95 percent less" this is what it means: The Playstation 3 on there for $66.78 @ a 2 cent bid, which means the company has made $2,003.40 off of a $300 dollar Playstation.in this example, Quibids is a great way to sell a PS3 for 6.67 times its actual value while giving you a lottery's chance (rather than a true bidding chance) of buying something for less than retail.
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