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Friday, September 24, 2010

Quibids- The 3 Biggest Mistakes Beginners Make

Those who have a negative experience on penny auction sites usually do because they don't understand how the site works. has a great explanation on mistakes beginners make. See below:

The 3 Biggest Mistakes Beginners Make

1) Setting Unrealistic Expectations
We can't stress this enough, but users need to set realistic goals when participating in auctions.  If someone is new to an online auction, he/she shouldn't expect to win a MacBook on his/her first auction with the cheapest bid pack there is.  Not saying it couldn't happen... it could and it has... but it is highly improbable and more than likely it won't happen.  Odds will be against you at that point.  Instead, we encourage new users  to start using the site by participating in a smaller auction.  The beginner's auctions are a perfect place to start because not only are they smaller items, but they're easier to win! Start small and grow from there.

2) Setting Your Sights Too High
It wouldn't be wise to come in and immediately go after the most popular item on our site.  Yes, these are the more "sexy" products, but there are more competitors for these products, not to mention some of our more skilled 'in-it-to-win-it' veterans.  Once acquainted with the site and knowing how it all works, if you then decide to go for those sexy products, know that you need to be committed to that one specific auction and should highly consider buying the item through our "Buy it Now" option if you don't win.  Don't spread yourself too thin when bidding on the big ticket items.  Make sure to devote a little bit more time and money.  Usually any participant who is willing to spend 1/3 of the value of the item in bids has a great shot of winning the item.

3) Not Taking Time to Familiarize Oneself with the Site. 
  As with anything, do some research before you jump into the world of QuiBids penny auctions.  Each penny auction is going to be different from the next.  With QuiBids, read through and know our Terms & Conditions, know about the "Buy it Now" option, the Bid-O-Matic tool, our pricing structure and even sit back to watch other auctions.  This will give you a much better understanding of "the nature of the business" as well as what we strive to accomplish with our site.  If you don't know what's offered, you very well could set yourself up for a disadvantage in auctions.

I cannot stress enough mistake #3. Every auction site has its own unique rules. Take the time to learn the site you are on before you spend money. On mistake #2, I recommend bidding on low ticket items first. If you spend your bids, you can always choose the Buy it Now option on If you buy a $10.00 gift card, you can apply your bids towards that gift card and purchase it for retail price, $10.00. One other piece of advice I'd like to offer, is only bid on items that you do intend on buying. If you loose the auction, you can still buy the product at retail price.
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