Monday, April 30, 2012

Largest Penny Auction Site

What is the largest penny auction site? A lot of bidders wonder about this. The answer is Quibids. It is actually by far the largest penny auction in the world. It has always been at the forefront of penny auctions, even though initially Quibids did not identify itself as a penny auction.

As an industry veteran, I am impressed by how Quibids survived and thrived as plenty of new penny auctions came and went bust. Even as other penny auctions were dying, Quibids was building a mark for itself. It has a nice, slow and steady progress growth.

What's also impressive is that the growth of new bidders has slowed at almost every site except Quibids. It still attracts a good amount of traffic every single day. You can look at the Alexa rank of Quibids and you will know just how impressive it has been all the while. No other single penny auction even comes close to being the industry heavyweight. I think Quibids does some things just right, e.g. Buy Now on all the auctions from a very long time, so it couldn't be criticized as gambling.

That being said, the obvious drawback is everyone knows about Quibids! This means increased competition because there are not enough products for everyone to bid on. This of course works against bidders. Worse, Quibids separates bidders as new, experienced, etc. and the more winnings you have, the harder your competition gets.

So which penny auctions do you bid on? 

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