Thursday, January 20, 2011

Alternatives to Quibids: OMGiWON

There are several alternatives to Quibids that you might be interested in. The auction model of Quibids is a bidding fee model, which is called as a penny auction. If you do not know what this means, read my post on How Does Quibids Work.

So why should you be interested in alternatives to Quibids? After all, Quibids has, for a long time, been one of the best penny auction sites on the internet and its success is inspiring with over a million auctions. The reason is, as many people have noticed, Quibids is getting increasingly crowded and thus more and more competitive. This reduces your chances of winning, and even if you win, you might need to spend a lot of bids and thus money on winning the item.

To my readers, I recommend a new website OMGiWON. This is still new and has many promising features for the future. Being new, I can immediately see the lower competition. You can simply use Quibids Strategy Waiting Game or Quibids Strategy Volunteer's Dilemma to win on OMGiWON.

While choosing alternatives to Quibids, it is important that you look for legit penny auction sites. This is important because a few new sites are just a scam. This is why I recommend this particular site. You also get 7 free bids on registering. In addition, the site has a special bonus of 5 bids by using the coupon code - wow. This can be redeemed from the My Account tab of the site.

With 12 free bids, you can win something good already from the site. I have seen gift cards going for a few cents, which translates to just a few bids. This is not surprising since the site is quite new.

Here is a small case study: Both these auctions are from yesterday, January 20th 2011. Both the products are similar - Bose Headphones/Earphones of similar pricing. The two auctions, one at Quibids and one at OMGiWON are shown below:

Quibids auctionOMG AuctionAs can be seen, the difference is significant - OMG is cheaper by more than 10 times. This becomes significant considering how much money you have to spend if you win/lose this auction.

I would be happy if you can share your own success stories on this site here.

3 comments:

  1. Thanks for letting us in on the new site. I am pretty much a newbie to the whole thing. While getting a deal is great I'm actually finding it very interesting watching the ebb and flow of the bidding process. I've even started collecting data from the auctions that gives me a little insight into winning price ranges, number of bids used, winning efficiency, etc. As I've been collecting the data it's helped me (along with your strategies) to improve my success rate. Do you happen to know if there is a database of some sort that might already be out there with similar data?
    Thanks

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  2. MTM, thanks for dropping by. I hope you enjoy the blog.

    There is one database that I am aware of, which is at bidcentz.com You might be interested in it. The data is not very well organized for now, but I think you will find it useful.

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