QuiBids

so, i stumbled across this website this evening where you bid on stuff & can get it really cheap. it's called QuiBids, and it's truly brilliant! i just watched an auction for a BRAND NEW ipod nano & someone bought it for $4.34. each auction starts at $0.01 and every bid moves the price up by $0.01, BUT each bid costs the bidder $0.60 and adds 3 seconds to the clock for additional bids. so even though the final bidder only paid $4.34 (plus $11 shipping), QuiBids got paid $260.40 for an item with a retail value of $199.99. so they're able to sell stuff AND MAKE MONEY DOING IT while we're able to buy stuff for a mere fraction of the cost. and just cuz the retail value is $199.99 doesn't mean that that's what they paid wholesale. amazing!

but i don't think i have the patience to sit and bid on stuff. since each bid costs $0.60, if it takes you 20 or 30 bids to finally win an item, if you just come in at the end, you're still paying $12 to $18 on top of the purchase price + shipping. and since each bid adds 3 seconds to the clock they take forever to end. when i started watching the ipod nano auction, there were only about 15 seconds left. but i watched for about 45 minutes (off & on *smile*) before it finally ended. but even if you used 80 bids, which would be $48, but managed to get something like an ipod nano for $5, you're still getting it for more than 50% off. and all the people who lost the auction just spent however much to TRY to get the item, & the price of your bids is non-refundable if you lose the auction. so losing an auction at QuiBids sucks a LOT more than losing on eBay. you're actually losing more than just your time. cuz i'm sure the people who lost the auction placed at least 10-20 bids, which means they spent like $12 so that someone else could have the item they wanted. that blows! :)