The Quibids Featured Auction of the Week was again a Quibids MacBook Pro Bundle, priced at about $4000. The final price for the ending auction was $535.40. Congratulations to the winner, banyquis!
You can find the Auction here.
The winning bid was placed by a BidoMatic. This is not always the case with Quibids mainly because it limits its automatic bidding tool usage, quite unlike penny auctions like BidRivals where almost every auction is won by automatic bidding tools only.
So what were the economics of Quibids auction for MacBook Pro? Here is a small calculation:
Cost Price of the Bundle= $3935.95
No. of Bids Placed: $535.40/$0.01 = 53,540
Selling Price of the Bundle = $535.40
Total cost of bids placed = 53540x$0.60 = $32,124
Quibids Profit = $32124 + $535.40 - $3935.95 = 28,723.45
Total Quibids profit for MacBook Pro Bundle is $28,723.45! That sure is a significant amount. However, the winner got this for a 79% discount and had to place 461 bids to win the auction.