How to win on Quibids 2: Worst Time to Bid on Quibids

I have already discussed the best and worst times in general in my post here. You can also find my Quibids strategies - just browse through the most popular posts on the right hand side.

Here, I want to give some details about the worst time to bid on Quibids.

The worst time to bid on Quibids is in the night, about 10pm-2am EST. However, this worst time frame is expanding. I would say, don't bid till up to about 5am EST. Here is why:

A number of people who bid on Quibids do so at night because that is the time they are free. Quibids does realize this and usually has more auctions during the night. However, there are almost never enough number of auctions for all the users, so the nights are very competitive. Now, I know many people are nocturnal like me and will stay up late to bid on Quibids.

Quibids has only a very few auctions of late during the nights - around 4-5am EST. Here is a recent screenshot of Quibids around this time. As you can see, there are only 6 live auctions on Quibids at this time. There are, of course, many users online, so they all tend to bid on a few auctions, making this time very competitive.

So I would say, avoid bidding on Quibids at night. This is especially the case when you are in EST. This time zone is at a disadvantage for this particular time frame. If you thought you can wake up till 4am, remember it is still 1am Pacific Time, so there would be many online. You cannot be late in EST but you certainly can be early. In fact, mornings are a good time to bid on Quibids. Thus if you are in EST, perhaps you can put the alarm in the morning and try your luck!

Quibids Review: The Good, The Bad and The Ugly

Here is my first part of Quibids review for my readers:

Quibids is a penny auction site, which is unlike other traditional auctions. If you do not know what penny auctions are, you can read about it at Wikipedia. Remember, Quibids is not a traditional auction site.

For those of you who are looking to answer the question of whether Quibids is a scam or not, here is a simple one word answer: No. However, my Quibids review is not about whether it is a scam, which it is not. You can read my post here to see why Quibids is not a scam.

However, if you happen to try the site out without knowing that it is a penny auction site, you might think it is a scam. This is why, don't join Quibids until you are sure you know what you are getting yourself into.

All penny auctions including Quibids contain elements of luck and risk, and can resemble a lottery.

My Quibids review here is about what is good and bad in Quibids, assuming you already understand the risk in Quibids.

The Good:

• Not Scam!: This is the biggest good for Quibids review, simply because most penny auction sites are outright scams. Quibids has a sustainable business model. Quibids uses game theory and elements of psychology and economics and can make for a good business model, which it is. Quibids recently completed the millionth auction on the site. It is quite unlike sites like Swipebids/Swipeauctions that are outright scams.
  

• Real Auctions: Quibids has real auctions, which means the auctions are not all about bids and virtual products. By real auctions in my Quibids review, I mean that what you can win is real and tangible. You can win a Quibids macbook or Quibids iPad or something smaller, like headphones or mouse, but there are physical products that you use. Many penny auction sites only have points and coupons to win, which are seldom tangible. Thus they work akin to a ponzi.
  

• Fast Product Delivery: The product delivery from Quibids is fast. You will get what you win within a week or two. They are prompt with ensuring that the winners get their products well in time.
  

• The 'Buy it Now' Feature: This feature of Quibids is unique and can be highly useful for bidders. If you fail to win a product, you can use the amount towards the bids to purchase it at the market value. This is a good feature that greatly minimizes your losses, especially if you are interested to buy the product you are bidding anyway.

The Bad:
My Quibids review needs to be balanced and neutral, so here are some of the bad things about Quibids that might change with time.

• Weekend competition: The best time to participate in penny auctions is the weekends when people are relatively free. However, it seems that there are just not enough products for the weekend, and so everyone bids on the same few auctions. This causes immense amount of competition, and thus the customers end up losing a lot. Quibids is naturally aware that far more people participate in auctions during the weekends, but I guess they just want to book profits above the user convenience in this case.
  

• Hidden charges: Let me be honest - I hate hidden charges and hidden fees everywhere, not just Quibids. They have a delivery cost that be totally unjustified. For example, they charge $2 for adding bid after you win a bid voucher from Quibids. This is ridiculous as there is nothing physical being transferred. The bids are added immediately to your account, so why the extra fees?
  

• Misleading Information: There are several things in this category. For example, a lot of advertisements seem to be showing very high discounts without telling the users about the risk. This is why so many think Quibids is scam. I don't think withholding information is the right way to go especially at this stage. I'll probably write a whole post on this topic soon.
  

So that was my Quibids review and I hope to hear from you - what you like and what you don't, so I can take those into account for my next review.

How to Win on Quibids: Part - 1

Learn how to win on Quibids before you spend money on the site. This is an extension post to my existing post on Quibids strategy-1: Volunteer's Dilemma. The purpose of this post is to make things simple and explain once more, in detail, how this works.

When deciding strategies or how to win on Quibids or any other penny auction site, it is important to consider 2 factors:
1. Economics
2. Psychology

People tend to ignore the last one, but it turns out that the psychology of the bidders plays a more important role than the economics of the situation. This is why, there is no universal Quibids strategy that will always win. However, you can maximize your chances depending on the auction at hand. Any person with some experience on Quibids or a similar penny auction site will tell you the same.

The Quibids strategy based on the Volunteer's Dilemma works because you are being aggressive. Highly aggressive. This tends to scare bidders, especially the careful ones. This is important to remember because most of the bidders at Quibids are simply looking to get lucky - place a bid and pray no one outbids them. This is ridiculous - Quibids is famous and has many people at any given time. You can easily beat most of the Quibids bidders this way by being aggressive.

When 2 people are being aggressive simultaneously, only one can win. The person who can remain tenacious longer will be the winner, as simple as that. This is how to win on Quibids - you have to hold your own against aggressive bidders. If you are looking not to waste bids, then you will end up winning almost nothing while spending a few bids on all auctions, thus losing a lot in total.

When you start out on an auction, you should make sure that you never quit. If you do, you will end up losing much more than what you bargained for. However, if your total bids exceed the price of the item, you can as well stop and use the "But it Now" option of Quibids. This is great so that your losses are limited but your profits are not.

I have a whole series on how to win on Quibids and Quibids strategies, so make sure you understand the rules of the game before going out there and winning. Good luck to all my readers!