Saturday, May 7, 2011

Jewelry on Quibids

At Quibids, jewelry is becoming more and more common these days and I see lots of auctions for these items. These can range from necklaces to earrings. I have absolutely no problem with jewelry but I think they are misleading.

Jewelry is one of those few items that are hard to price and not uncommon to see ordinary auctions offering 70-80% discounts on the "retail" price. I think it is a marketing strategy: When you see a $100 necklace being sold for $20 you sure are tempted. This is bad enough in ordinary auctions but becomes worse in penny auctions like Quibids.

So when Quibids auctions jewelry, it shows the full retail as the buy it now price. This price is grossly inflated. This means people who don't win and want to buy it now might be paying 4-5 times the actual cost of the item! This is certainly not pleasant.

If you really want to know the "real" price of a piece of jewelry, you should visit ordinary auctions like eBay. For example, eBay has a section on Daily Deals. Here you can scroll down to best deals on jewelry and you can immediately see discounts of up to 85%! This means the real price you should be comparing with when you bid on jewelry items at penny auctions like Quibids is the price at sites like eBay. Of course Quibids isn't going to make it easier for you, so I urge you to do your homework before you jump on jewelry auctions at Quibids. There are many places where you can get great discounts without the risk of penny auctions like Quibids.

2 comments:

  1. I just found your webpage by doing a Google search. Unfortunately, I learned too late. I bid my a*s off on Quibids to win three different pieces of jewelry. One was a 10K gold flower ring with diamonds in the middle, one was a lever back earring, and the other was a diamond pendant. The values that Quibid stated were $850, $900, and $275, respectively. I was all excited and thought I was going to make a killing by selling these online. I WAS WRONG. I couldn't sell them to save my life (at least, not at the price that I thought would work). I ended up taking these pieces to three different local jewelers, where all three of them told me the same thing. "This jewelry is junk". They compared it to "costume jewelry' and said that what they are advertising on the auction site is flat out dishonest. Quibids even listed the color and clarity of the ring, and they said "No way" and they weren't even close. So, lesson learned----NEVER EVER buy jewelry on Quibids!!

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  2. Thank you for this information!





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